Documents Required for Education Loan

The application for education loan generally  requires four basic categories of documents:

1. Identification-or KYC documents
2. Financial proof documents
3. Academic documents
4. Collateral documents (Not required by Leap Finance)

Indian banks require collateral, thus you are over-burdened by a pile of documents. Though Leap finance has simplified the loan application process and since we do not require collateral, lesser documents are required to sanction the loan.

Leap Finance has a quick, simple, and transparent approach to providing you with all the information you need to apply for an education loan. At Leap, we have simplified the application process tremendously, allowing you to apply online from the comfort of your home. No more running around obtaining multiple documents and giving up key moments of your life before flying off to study at the college of your dreams.

Student documents

●      Application form (fully completed and signed)

●      Two passport size photos (both Applicant and Co-Applicant)

●      Letter of admission from the University (on its letterhead with the address of the Institute)

●      Cost break-up of the educational program from the Institute (specifying the tuition fees- term-wise, year-wise and any other expenses involved)

●      The academic record of the student:

1. 12th board mark sheet
2. Certificates of subsequent years of education- graduation and post-graduation (if any)
3. Mark sheet of any entrance exam taken by the student (if applicable)
4. Scholarship documents (if applicable)

●      Affidavit or Declaration that confirms that no loan has been availed from another bank or financial institution

●      ID Proof (any one of the following): Passport, PAN card, Voter’s ID card, Driving License, Aadhaar card, etc.

●      Address Proof (any one of the following): Driving license, Ration card, Voter’s ID card, Passport, Aadhaar card, etc.

●      Age proof (any one of the following): Birth certificate or Class 10th certificate

●      Visa approval and travel papers

Now, the documents required from your co-signer vary, depending on their occupation. Your co-applicant can be self-employed or salaried. The documents required in each case will be-

Co-applicant (Salaried) Documents

●      Address proof

●      Identity proof

●      Last 3 months salary slips or salary certificate on employer’s letterhead

●      Last 2 years Form 16 from your employer or last 2 years Income Tax returns

●      CIBIL Report

●      Any other income proof that is not reflected in the above-mentioned documents

Co-Applicant (Self-employed)

●      Address proof

●      Identity proof

●      Last 6 months bank statement

●      Last 2 years Income Tax Returns

●      Proof of office (any one of the following: lease deed, utility bill, or the title deed)

●      CIBIL report

●      Any other income proof that is not reflected in the above-mentioned documents

Cut the Clutter with Leap Finance

At Leap Finance, we want you to have the smoothest loan application process experience. The application process is 100% online and since we do not ask for collateral to sanction your loan amount, the application process is hassle-free and requires less documentation.

How do I submit my education loan documents?

Everything is online! Relax and fill up the application form here >>link

You can finish the online application in just 10 mins and get your personalized offer immediately. Your loan offer is finalized in just 3 days!

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