Education Loan Process

Direction to use

· Payment of Registration Amount at IIBS

· Issuance of Bank Loan Manual from the Admission Department.

· Collection of required document for the procedure of education Loan [Call letter, Selection Letter, Loan Document etc.,] Refer th column below-'Documents to be finished'.

· Screening of the Sanctioned Education Loan from the Manual for analog our Banks and Stats.

· Visit your respective Bank for the information and applying for the Education Loan.

· After getting the Loan Sanctioned, deposit the original Loan Approval letter and Fee Demand Draft in the admission Department of IIBS.

· Receive the original Fee Receipt with loan Acknowledgment Letter from the College.

Document to be furnished

· Passport size photograph

· Proof of Address [Permanent]/ID proof/Voter ID card/ PAN Card.

· Proof of Age/Passing Certificate of 10^th Standard.

· Proof of having secured passed mark in last qualifying examination [Mark sheet].

· Admission Letter of professional or technical courses.

· Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc, are mentioned.

· Detail of assets & Liabilities of parents.

· Loan up to ₹4.00Lacs- No security is required. In case loan amount is above ₹4.00 Lacs:

o Particulars of Guarantors and detail of their assets & Liabilities.

o If immovable property offered as Collateral Security- Copy of title Deed, Valuation Certificate and Non-encumbrance Certificate from approved Lawyer of the bank.

o Collateral in the form of a suitable 3^rd party guarantee. The bank may, at its discretion waive 3^rd party guarantee if satisfied with the net-worth/means of parent who would be executing the document as ‘Joint borrower’

· Any other document/Information, depending upon the case and purpose of the loan.

NOTE: All these details may vary according to the bank and amount of loan requirement. Students are requested to attain the appropriate information from the respective bank.