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Documents required for the education loan
When applying for an education loan, you will usually need to provide the following documents:
Proof of identity: a copy of your passport, driver's licence or other official identification.
Proof of address: Documents such as a recent utility bill, rental agreement or bank statement to prove your residential address.
Letter of Admission: A copy of the official letter of admission from the educational institution you plan to attend.
Grade Sheets and Transcripts: Academic transcripts, including grades and transcripts of previous qualifying exams.
Proof of age: Birth certificate or other document confirming your date of birth.
Proof of income: Documents showing the income of your parents or co-borrowers, such as pay stubs, income tax returns or business income statements.
Collateral documents (if applicable): If collateral is required for the loan, you must provide documentation regarding the collateral, such as title deeds or asset valuations.
Course fee details: A breakdown of course fees, including tuition, examination, library and other applicable fees.
Details of expenses: An estimate of additional expenses such as accommodation, books and travel costs.
Guarantor documents: If a guarantor is involved, their identification documents and proof of income may be required.
*Higher age limit is applicable at the time of loan maturity.
