Apply For Education Loan
Important Information
KYC and Required Documents for Education Loan: File Charge – ₹3,400
| Form | Signed Application Form with a Photograph |
| Identity Proof | Passport, Voter ID, Driving, License or PAN Card |
| Age Proof | Birth Certificate/ Voter ID Card/ School or College Leaving Certificate |
| Address Proof | Aadhar Card, Voter I’d Card, Passport, Electricity Bill, Credit Card Statements, Mobile Bill, Water Bill |
| Income Proof (If Co-applicant) | Last 3 Month Salary Slip, Last 6 Month Bank Statements, Last 2 Year Form 16 |
| Other | Admission letter along with fee schedule and Mark sheets of passed courses. (10th, 12th, graduation degree etc.) |
Important Information
Education Loan Overview with Take Easy Loan
What does education loan cover?
- 100% coverage of college tuition fees.
- Accommodation charges, including mess fees.
- Exam and library fees.
- Expenses for books and equipment, such as laptops.
- Traveling expenses for studying abroad.
Eligibility Criteria For Education Loan
Take Easy Loan offers education loans for higher studies in India or abroad, subject to meeting specific eligibility criteria. To apply for the loan, applicants must adhere to the following requirements:
- Applicants must be Indian citizens aged 18 years or above.
- Admission confirmation is necessary before the final loan disbursement.
- A co-borrower, such as parents, guardian, or spouse, residing in India, is mandatory.
- Admission should be confirmed in a college/university recognized by UGC/Government/AICTE or a foreign institution.
- Loans are available for both graduation and post-graduation studies, including vocational training.
- Co-borrowers must also meet certain criteria:
- They must be Indian citizens and blood relatives of the applicant.
- A valid Indian bank account allowing cheque signing is required.
- Co-borrowers must act as the primary loan applicant. Furthermore, loans can be availed for various fields such as engineering, management, medical, hotel management, and architecture, among others.
Features Of Education Loan
- Loan amounts can reach up to 1 crore for international students and up to 50,000 rupees for domestic students.
- International students may benefit from preferential foreign exchange rates.
- Repayment periods extend up to 12 years, commencing six months after course completion.
- Co-applicants, typically parents, are required for education loan applications.
- Under specific conditions, 100% financing is available.
- Funding may cover additional expenses, including student travel costs and laptop computers.
Process For Applying an Education Loan
Step 1 – Online Application:
- Complete the online application for an education loan by providing all necessary details on the application profile page.
- Upon submission, receive an instant education loan offer and choose the desired loan amount.
- Contact the GRD IND team for a personal assessment after reviewing the offer.
- Upon assessment, receive a provisional approval letter.
Step 2 – Acceptance and Agreement:
- Submit all required documents and pay a small processing fee to obtain the official acceptance letter.
- Obtain a government acceptance letter for US student visa applications and Form 20.
- Input visa and Form 20 details on the application profile page.
Step 3 – Repayment & Disbursement:
- Sign the loan agreement provided by the lender.
- Pay a nominal processing fee of 1-2% upon loan application.
- Upon completion, request fund disbursement, and the lender will transfer the funds to your account as needed.