Government of India has been focusing for smooth sanctioning of Education Loans to the students studying in India or abroad through Banks on attractive terms.
Brief procedure to be followed is given below:
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Shortlisted candidates as per Admission Process has to register himself/ herself with the KNI by paying the initial registration fees.
- Getting Registration/ Admission Letter from KNI with Fees Details
- Submission of Registration Letter with Fees to the Banker along with the personal documents, photos etc.
- Sanctioning of Loan by the Banker.
- Disbursement of Loan to the Students.
- Speedy disposal of loan application.
The student can cover all his expenses e.g. hostel, stationary etc, while applying for loan.
Illustrative List of Papers / Documents Required for Education Loan
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Admission letter of KNI giving details of year wise fee, boarding and lodging expenses. Letter confirming scholarship, if any.
- Attested copies of documents for proof of age/date of birth and proof of residential address.
- Passport size photo of the applicant, co-obligates and guarantors.
- Copy of mark sheets/degree certificates of previous academic qualifications.
- Income proof/latest income tax return of parents/co-obligates, guarantors. (if any)
- Details of collateral security along-with valuation certificate of Govt approved valuer (if any).
- Details/statements of Bank accounts held with the bank by the student applicant/co-obligate(s)/guarantors (if any) for the last six months.