Documents Required For
An Education Loan

List of documents required for borrower and co-borrower


KYC Documents Academic Documents
Aadhar card Academic Marksheets ( X and XII )
PAN Card Admit Letter
Photo ( Passport Size ) Fee Structure
Passport ( Abroad ) Exam Score ( GRE, GMAT, CAT etc. )


If Salaried If Self Employed
Aadhar & PAN Card Aadhar & PAN Card
Address Proof ( Electricity / Water / Municipality Bill ) Address Proof ( Electricity / Water / Municipality Bill )
Last 2 Form 16 Last 2 Year ITR
Last 3 Month's Salary Slips Current Account Bank Statement ( Last 8 Months )
Salary Account Bank Statement ( Last 6 Months ) Saving Account Bank Statement ( Last 6 Months )
Company ID / Offer Letter Proof Of Existence Of Business


  • KYC documents of parents are necessary, even if the Co-Applicant is not one of them.
  • The Bank Statement date needs to be within 10 days of the loan application.
  • Collateral documents are required if it is Secured Loan.
  • Salaried documents similar to co-borrower for students, if he/she was ever employed.

Borrower different cases

The applicant can avail an education loan for both abroad and domestic cases. The borrower may even have a job experience before, which gives rise to a few changes. If in case the applicant has had a job experience, then the bank also needs his 6 months’ Salary A/C statement, ITR of last two years/Form 16, Income proof (Salary slip), Company ID/Offer Letter The differences between both of themare listed below:

DOMESTIC CASES: For cases where education loan is taken to study in India, only the above-listed documents are required. But the student must have the college admit letter, without it, the loan cannot be availed.

ABROAD CASES: When a student applies for an education loan for studying abroad, the bank asks for a passport. Unlike domestic cases, the student can avail an education loan without an admit letter from college, just by showing the scorecard (GMAT, GRE, etc).

Co-borrower different cases

A co-borrower is someone who takes the responsibility of repaying the loan, if the borrower fails to do so. Not every person can be a co-borrower, the bank has certain criteria regarding who can be the applicant’s co-borrower (parents, husband or father in law in case the applicant is married). A salaried co-borrower has to provide a different set of documents than a self-employed co-borrower. The list of documents that should be submitted by a salaried and a self-employed co-borrower is provided in the table. A pensioner is also treated as a salaried person but you may need to have multiple borrowers in that case.


A collateral is required to diminish the risk involved. Since the student hasn't started earning so there is a great uncertainty that whether the student will be able to repay the loan, hence collateral is needed.A collateral can be anything like FD, property etc. They are divided into two parts, liquid and solid. Liquid assets are movable like FD, insurance policy etc whereas, the solid ones are immovable like property, etc.