Education is crucial for a successful life. Therefore, all parents try their best to provide their children with quality education. But the cost of education is increasing, and it is becoming difficult for many parents to afford these expenses. Therefore, they have to rely on an education loan to make sure their children can pursue higher studies from reputed colleges and institutes.
What is an education loan?
Education loans or student loans are personal loans to fund education both in India and foreign countries. These loans can be secured or unsecured and cover all the expenses associated with education. Students aiming to pursue higher education from reputed institutions but falling short of funds can avail of Fullerton India Bank personal loan for education with the help of AapkaBank's digital platform.
Features of Fullerton India Bank education loan
- The maximum amount of loan up to Rs.25 lakhs can be availed.
- The customers can opt for a secured loan against the property to avail amount of more than Rs.25 lakhs.
- It covers all the expenses associated with education in India or overseas.
- No margin up to a particular amount.
- Disbursal of the loan amount to the customer's account is done within 30 minutes of approval.
- The repayment tenure is of 12 to 60 months.
- The customer should be a resident citizen of India.
- The age of the customer should be between 21 to 60 years.
- The customer must be employed in a private limited company or public sector undertaking.
- The minimum monthly income should be Rs. 25,000 if staying in Delhi or Mumbai, and Rs. 20,000 if staying in any other city.
- The minimum of 1-year work experience and a minimum of 6 months experience with the current company.
- The customer should have a minimum turnover as per the current policy and minimum yearly profit after tax determined based on the profession/industry.
- Loan application form filled with all necessary details and duly signed along with recent passport-sized photographs.
- Identity proof
- Proof of residence
- Bank statements for the last 6 months
- Form 16
- PAN card and IT return
- Salary slips for the last 2 months with the date of joining the organization mentioned on it.
- Salary account bank statements for the last 6 months.
- Income tax certificates, including the calculation of the income of the last 2 financial years.
- The audited balance sheet for the last 2 years.
- Proof of the latest turnover.
- Income tax certificates carrying the computation of income of the last 2 financial years.
- Audited balance sheet or profit and loss sheet of last 2 years.
- Proof of qualification.
AapkaBank has 16 years of experience in the financial sector and has provided support to many people and creates millions of success stories.
- We are one of the largest financial service providers across the territory of India.
- We offer a wide range of loans in real-time with the lowest interest rates to customers.
- We have partnered with India's leading Banks and financial institutions like ICICI Bank, IDFC Bank, etc.