Apply for Education Loan from SBI

1. Money Maya Blog • A/3, J1/14, KHIRKI EXTN, • MALVIYA NAGAR, NEW DELHI 110017 • -7982367598 • How to Compare Education Loan in India? • May 04, 2017 • For all of our small or big personal requirements, we look towards, personal loans. There are many private and public sector banks, those offer personal loans on very easy terms. However, it is always advisable to read all the terms and conditions before signing any loan document. Apart from this, it is a fact that personal loans are available at a very high rate of interest. Therefore, before planning a personal loan, it’s very important to compare Personal Loan in India. There are few points which you should consider while planning for a personal loan. • Recommended Read : SBIStudent’sLoan • HowtoCompareEducationLoaninIndia? • Documents Required to Apply for a Personal Loan: • our 3 Passport size photographs • Identify Proof (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card) Moneymaya.in is a Personal Finance Blogging site where you can find & share information about various Loans, Creditability,Loan related Insurance. http://www.moneymaya.in

2. And, Address Proof (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card) • Also, Proof of business address for non-salaried individuals • In addition, Statement of Bank Account or Pass Book for last six months • Signature identification from present bankers • Also, Personal Assets and Liabilities statement • In addition to the above, following additional documents are also required for salaried persons: • Original Salary Certificate from employer; and • TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt • Also, additional documents required for Professionals/self- employed/ other IT assesses are: • Acknowledged copies of three years I.T. returns/ Assessment years; and • Photocopies of challans evidencing payment of Advance Income Tax. Moneymaya.in is a Personal Finance Blogging site where you can find & share information about various Loans, Creditability,Loan related Insurance. http://www.moneymaya.in

3. How to Apply for Education Loan from SBI? • If you have grabbed an opportunity to pursue higher education in India or abroad. And, want to apply for an Education Loan from SBI, this is how you do it: • First of all, you should have taken admission in your desired course. At the same time, make sure that the course of your desire or choice is one of the coursescoveredbySBIEducationLoan. • Choose the nearest branch of SBI to your residential address. • Walk in to the branch and discuss your case with the branch manager. • And if, branch manager agree for the loan, then either collect the application form from the branch or download application form from SBI website. • Fill in the complete application form. • Enclose copies of the following documents along with the application form: Moneymaya.in is a Personal Finance Blogging site where you can find & share information about various Loans, Creditability,Loan related Insurance. http://www.moneymaya.in

4. DocumentsRequired: 1. 2. 3. 4. 5. 6. 7. 8. 9. Letter of admission 2 passport size photographs Statement of cost of study Your and your Parent’s or Guardian’s PAN Card AADHAR Card of both you and your Parent or Guardian Proof of identity (Driving Licence or Passport or Aadhar or any photo identity) Address Proof (Driving Licence/Passport/Electricity bill/Telephone bill) Student, Co-borrower and guarantor’s bank account statement for last 6 months IT return or IT assessment order of previous 2 years of Parent or Guardian or other co-borrower (if IT Payee) Brief statement of assets & liabilities of Parent or Guardian or other co-borrower Income Proof (i.e. salary slips or Form 16) of Parent or Guardian or other co-borrower • For a safer side, keep a copy of all the documents with you as well along with filled up application form. Banks may ask anything any time, you never know ! • Now submit your form and the enclosed documents to the branch manager. • First of all, bank will check your CIBILScore.If it is acceptable to the branch manager, then the loan department will move to next step. Moneymaya.in is a Personal Finance Blogging site where you can find & share information about various Loans, Creditability,Loan related Insurance. http://www.moneymaya.in

5. And, next step is that the loan department will go through your document and will check if all the documents are as per bank’s norms. • Next, they will verify your residential address by physical inspection by bank’s team. • If you clear this step as well, then loan department will proceed for some legal and technical verification as a part of the LoanapprovalProcedure. • And, if you clear all the steps, then your Education Loan will be sanctioned. • You will get the amount as per your Course payment schedule. Banks pay Education Loan direct into Institution’s Account as per the schedule given by your Institution. • Money Maya is a Personal Finance Blog. You can find Complete information about “How To” of Banking, Loans, Provident Funds, Credit Card and Credit Score on MoneyMaya.in. It is also give information about how to get Important Indian Government Documents such as PAN, Passport, AADHAAR? Their retrieval, and how to update these IDs online and offline. • For more information visit the site http://www.moneymaya.in/OR Call 7982367598 Moneymaya.in is a Personal Finance Blogging site where you can find & share information about various Loans, Creditability,Loan related Insurance. http://www.moneymaya.in