About Education Loan

When it comes to all the buildingcarrier that form a complete and successful life, nothing is as important as quality education. However, education in India, at least the commonly perceived ‘quality education’ as imparted by acclaimed and influential educational institutions, is decidedly costly and not easily available to everyone- especially those who deserve it based on merit alone.

Thus, education loans are vitally important. A barebones explanation for an education loan is thus, ‘funds offered by financial institutions to meritorious and/or deserving students so that the latter can pursue their basic/higher education, in India or abroad’.

Why International Students are coming to Study in India

The question should ideally be, why choose an education loan over a personal loan, or the money accumulated in your savings account? The versatility and advantages of education loans are listed below-

Education is Expensive-It's a matter of instant availability. A comprehensive educationloan frees you from the task of accumulating sufficient money to fund your son/daughter’shigher education. And, with inflation and shifting prices, can you ever be 100% certain?A good education is expensive and the expenses aren’t changing in a predictable curve.

A good education loan scales accordingly andhelps you be safe from unexpected surprises.Specialised Help-The expenses incurred through a standard study course are many, caution deposits, library fees, building deposits, laboratory fees, etc. With a comprehensive education loan, individual facets of the course can be better addressed without the risk of running out of money. It’s more organizedand seamless with an education loan.

Widely and Easily Available- Comprehensive education loans are a priority product in most banks’ arsenal of products and the RBI lists them as part of the priority sector lending of banks. Conforming to some basic requirements and confirming your ability to repay the borrowed amount is all it takes to get on-board.

Timely Assistance- Often, good intent isn’t backed by good monies. A good education loan offers timely help when it comes to a crucial pillar that promises a successful life- education. Nullifying the worry that accompanies the need to gather up the requisite amount, a full-fledged education loan puts you atease.

Features & Benefits of Education Loans

When it comes to a complete education loan, the features and benefits offered are the designated deal makers. Commonly, the following conveniences are offered as part of the education loan-

Universally available. Anyone with a will to study can apply.

Education loans are provided to pursue all types of academic courses, in India. The courses include graduation, post-graduation, vocational courses and other certificate courses.

Why Apply for an Education Loan with us

VIA through its money lending agents is a user friendly portal that is dedicated to provide education loans.

100% Hassle Free- Save on time and effort as you ditch legwork and fire up your computer to check out the best education loan options. The process is extremely simple, distraction free and incredibly quick. Your eligibility for the loan is determined by an interactive wizard that takes just about 3 minutes to complete.On submission of the following documents immediately the loan amount will be sanctioned. Here on receiving the loan amount the interest alone the beneficiaries have to pay every month on or before 5th of that month.

Documents for Education Loan for salaried individuals

  • Proof of identity (any one of the following)
  • Passport
  • Voter ID card
  • Driving license
  • PAN card
  • Government department ID card
  • Latest salary slip showing all deductions or Form 16 along with recent
  • salary certificate
  • Proof of residence (any one of the following):
  • Bank account statement
  • Latest electricity bill
  • Latest mobile/telephone bill
  • Existing house lease agreement
  • Bank Statement/Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter or the Institute along with Fees schedule
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses

Documents for Education Loan for all other Individuals

  • Proof of identity (any one of the following)
  • Passport
  • Voter ID card
  • Driving license
  • PAN card
  • IT returns of the last 2 years and computation of income of last 2 years
  • certified by a Chartered Accountant
  • Proof of residence (any one of the following):
  • Bank account statement
  • Latest electricity bill
  • Latest mobile/telephone bill
  • Existing house lease agreement
  • Bank Statement/Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter or the Institute along with Fees schedule
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses

Documents required for first disbursement

    1. Demand Letter from college or university.
    2. Loan agreement signed by applicant, Co-applicants.
    3. Sanction Letter signed by applicant, Co-applicants.
    4. Disbursement request form signed by applicant, Co-applicants.
    5. Receipts of Margin money paid to the college / university alongwith bank statement reflecting the transaction.
    6. Documents for collateral security

How to proceed to avail loan

Mail / contact the registered phone no