Process And Documents For Abroad Education Loan


This blog  I believe will be fruitful for all those aspirants who believe that budget is one of the big obstacles in learning abroad. You all know almost all banks provide Abroad Education Loan, but you have no. of queries regarding it and looking for its answers. After reading this blog just keep your worries aside and pay your complete concentration on your preparations. Here we give all the information related to documents, process, eligibility, charges, etc. for getting Abroad Education Loan. So let’s get started…

First and foremost as you are a student, you need a co-applicant or guarantor who must be salaried or self-employed (i.e. parent/guardian) for getting the loan repayment security.



  1. Applicant’s Document (i.e. student):
  1. a) Identity Proof – PAN Card
  2. b) Residence Proof – Aadhaar Card & Passport is compulsory
  3. c) Credentials: 10th Result, 12th Result
  4. d) NEET Score Card
  5. e) Proof of admission i.e. Admission/Offer letter from Institution
  6. f) Statement of cost of study/ schedule of expenses
  7. g) Two-Three Passport size photograph
  8. h) If any previous loan from any Bank/Lender then its account statement of the last year.
  1.  Co-applicant/Guarantor:
  1. a) Identity Proof – PAN Card
  2. b) Residence Proof – Aadhaar Card
  3. c) Two-Three Passport size photograph
  4. d) If any previous loan from any Bank/Lender, then its account state of last one year
  1.  Income proof for salaried Co-applicant/Guarantor:
  1. a) Salary Slip or Salary Certificate of last three months
  2. b) Copy of Form 16 of the last 2 years or copy of ITR of last two financial years, acknowledged by IT Department
  3. c) Salary Account statement of last 6 months
  1.   Income proof of Self-employed Co-applicant/Guarantor:
  1. a) Business Address Proof (if applicable)
  2. b) ITR of last 2 years inclusive of Balance Sheet and Profit & Loss Statement
  3. c) TDS Certificate (Form 16A, if applicable)
  4. d) Certificate of qualification (for C.A./Doctor and other professionals)
  5. e) Bank Account Statement for Last 6 months
  1. Collateral Security is required above a fixed loan amount (differs from bank to bank)
  2. Processing fee cheque (in some banks they add it to your loan amount)
  3. Few signed cheques as security (8-10, differs bank to bank)

So with the availability of these documents, you are eligible to fill the form for the loan process and after its submission, the flowchart of the loan process begins:


  1. Your file is logged-in; CIBIL is pulled out and is forwarded for sanction.
  2. The underwriter team goes through it and calculates your eligibility for the loan amount requested for.
  3. If everything goes well your loan gets sanctioned for the amount requested/downsized.
  4. Before downsizing the amount the bank informs you about it and confirms whether you want to proceed further and then it is sanctioned.
  5. Once it gets sanctioned the processing fee is charged, make sure to maintain balance in your account if the bank has taken cheque for the processing fee, because if it bounces your loan gets rejected.
  6. After processing fee clearance, your documents are sent for different types of verification i.e. Legal-search report (some banks charge for it), house verification, job/business verification.
  7. Once the positive response is seen, you are called for the loan signing process (you need to bear some notary charges along with stamp paper charges for the mortgage).
  8. After completing the loan signing, the loan moves to the disbursement stage.
  9. The disbursement of the loan amount will be done as per the payment schedule of the institution.
  10. The payment will directly be done to the institution’s account.