DOCUMENTS REQUIRED FOR EDUCATION LOAN (TECHNICAL AND MEDICAL COURSES):
Introduction
Our Rural area needs educated manpower. Lending for the purpose of education has attained a national priority. It should be our Endeavour to extend financial help to promising students from Rural area in the pursuit of their education
Eligibility Conditions:-
- Letter of admission from the college.
- Proof of admission to the course (Fee receipts, Transfer Certificate obtained from the institute
- Photo copy of mark sheet of the applicants latest qualifying public exam for college.
- CET ranking Certificate.
- Duly filed and signed loan application form.
- 2 recent passport size photographs.
- Statement of cost of study.
- PAN Card, AADHAR Card of student and parent/guardian.
- Proof of identity and proof of residence.
- IT returns of previous two years of the co-borrower.
- Statement of assets and liabilities of parent/guardian.
- Proof Income of parent/guardian.
- LIC Policy and Property Extract to be obtained of borrower, parent/guardian and bank Lien is to be noted.
- The Loan is to be repaid in 4 years after one year of completion of course or six months after getting the job whichever is earlier.
- Loan is to be advanced only to merit student (CET ranking not below 5000).
- Photo copies of mark sheet for every year to be obtained till the completion of course.
- Borrower and both the sureties to be nominal members of the bank.
- Rate of Interest is 12%.
