Documents Required for Education Loan: A Detailed Insight

Identity-related documents required from both applicant and co-applicant

KYC Documents

• PAN card 
• Driving License 
• Aadhar Card

Address Proof

• Aadhar Card 
• Valid water/electricity/ LPG bill
• Voter’s ID card 
• Current House lease agreement 
• Valid passport 

Documents related to the academic record of the applicant

• 10th Result
• 12th Result
• Under Graduate Result Semester Wise (If required)
• Entrance Exam Result - Abroad institutes (GRE, GMAT, TOEFL, etc.)
• Entrance Exam Result- Domestic institutes (CAT, CET, GMAT, CMAT, JEE, NEET, GRE, etc.)
• Proof of Admission 

Documents related to the financial history of the co-applicant

Income proof for salaried co-applicant

• Salary slips of the last 3 months.
• Copy of Form 16 for last 2-3 years or copy of IT Returns for last 2-3 financial years, acknowledged by Income Tax Dept.
• Bank account statement for the last 6 months (Salary Account).
• A brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

Income proof for self-employed co-applicant

• Business address proof (If applicable).
• TDS Certificate (Form 16A, if applicable).
• Last 2 years IT returns (If IT Payee).
• Certificate of qualification (for C.A./ Doctor and other professionals).
• Bank Account statement for the last 6 months.
• A brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower

Collateral Related Documents

Common Documents

• Title deed & Sales Deed
• Registration receipt
• Allotment letter
• Chain deed of 30 years
• Tax copy or electricity bill
• Government-approved building plan
• OC and Completion Certificate (if the property is constructed)

Commonly unaccepted immovable properties 

• Agricultural land
• Open land without boundaries

State-wise unacceptable properties 

• In Telangana: Notary registered property
• In Karnataka: B Khata Property
• In Delhi: GPA or Leasehold Properties

Co-applicant Income Documents

If Co-applicant is salaried

• 6-month bank statement of salary account
• Minimum 3-month pay-slip
• 2 years ITR or Form-16

If Co-applicant is Self-Employed

• 6-month bank statement of the business account
• 3 years ITR
• Business proof such as GST registration or P&L (Profit & Loss) Statement

Academic Documents

• Past certificates- 10th, 12th, degree certificate or semester grade sheet up to a pre-final year.
• Test Score Certificate- GRE, GMAT, IELTS, etc.
• University’s unconditional admission letter.
• I-20 is not mandatory for the US

Identity proof for both student & co-applicant

• Passport-size photograph
• Pan copy
• Aadhar copy
• Passport copy (student’s)