IDBI Education loan for Studies abroad
IDBI Education loan for Studies abroad
Education loan is extended as a term loan granted to students who have secured admission for pursuing higher studies abroad.
Documents Required
Documents in respect of Student-applicant: Age Proof & Proof of Identity and Address based on Officially Valid Document as per KYC norms Mark sheets from Class 10th onwards till the last qualifying examination, result of entrance exam Proof of admission secured: Offer Letter /Admission Letter from the Institution for the course. Schedule of expenses for the course Passport-size photographs Details of previous / existing loan, if any, from Banks/Lenders. Pan Card Aadhaar (mandatory for availing benefit of Govt. subsidy scheme) If eligible for benefit under Government subsidy scheme- relevant documents to be furnished Security documents if applicable Any other document as specified by Sanctioning Authority Self-attested valid passport Self-attested I 20 form (wherever available or any other document issued by the institute for visa purposes) Self-attested copy of VISA. Self-attested copies of travel documents, if borrower claims reimbursement of travel expenses
Eligibility Criteria
Should be Indian National including NRIs Student who have secured admission for full time regular courses in recognized institutions abroad through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).
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Additional Information
Documents in respect of Co-applicant / Guarantor: Age proof, Proof of Identity, address and signature as per KYC norms Passport-size photographs Details of previous / existing loan, if any, from Banks/Lenders. Pan Card Employment or Business or Income Proof Asset liability state of co-applicant /guarantor for ascertaining Net worth, if applicable Income proof depending on profile – if income is considered for the purpose of calculation of loan eligibility. For availing the benefit of Government Subsidy schemes, Income certificate/ proof from the designated officials of the respective states/Competent Authority is mandatory before sanctioning of loan. Also relevant documentation formalities to be completed Any other document as specified by Sanctioning Authority to take the credit decision.
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Education loan is extended as a term loan granted to students who have secured admission for pursuing higher studies abroad.