Documents Required for Education Loan
A complete checklist of the documents banks and NBFCs ask for, for the student, the co-applicant and any collateral, plus the extra papers you need for studying abroad. Having everything ready is the fastest way to a sanction letter.
Download the checklist (PDF)Written by Deepak Agrawal, Founder & CEO, FundMyCampus · MBA, IIM BangaloreReviewed by Ashmita Agarwal, Director, FundMyCampusUpdated on
Quick answer
- KYC for student and co-applicant, PAN, Aadhaar, passport, address proof, photos.
- Academic records, 10th, 12th, graduation marksheets and test scores.
- Admission letter and fee structure (plus I-20 / CAS / CoE for abroad).
- Co-applicant income proof, salary slips & Form 16, or ITRs, and 6 months' bank statements.
- Collateral papers, only for secured loans.
1. Identity & KYC (student and co-applicant)
- PAN card
- Aadhaar card
- Passport (mandatory for studying abroad)
- Address proof: voter ID, driving licence, utility bill or registered rent agreement
- 2 recent passport-size photographs each
2. Academic documents (student)
- Class 10 and Class 12 marksheets
- Graduation marksheets and degree certificate (for postgraduate courses)
- Entrance or test scores: JEE, NEET, CAT, GRE, GMAT, IELTS or TOEFL, as applicable
3. Admission documents
- Admission or offer letter from the institution
- Fee structure with a semester- or year-wise breakdown
- For studying abroad: I-20 (USA), CAS (UK), CoE (Australia) or letter of acceptance (Canada)
4. Co-applicant income documents
- Salaried: last 3 months' salary slips and Form 16 for the last 2 years
- Self-employed or business: 2–3 years of ITRs with computation, audited financials, and GST returns if applicable
- Last 6 months' bank statements (salary / main savings account)
- Details of existing loans and EMIs, if any
5. Collateral documents (only for secured loans)
- Title deed / registered sale deed of the property
- Latest property tax receipt
- Encumbrance certificate (typically covering 13 years)
- Sanctioned building plan / approvals
- Valuation report from the lender's empanelled valuer
- Or: fixed deposit receipts / LIC policies if used as security
ITR requirement and processing time by lender
How many years of income tax returns each lender asks of a self-employed co-applicant, and how long sanction typically takes once your file is complete.
| Lender | Self-employed co-applicant ITRs | Processing time |
|---|---|---|
| SBI | 3 years | 15–25 working days |
| Canara Bank | 3 years | 10–15 working days |
| PNB | 3 years | 15–25 working days |
| Bank of Baroda | 3 years | 12–20 working days |
| Prodigy Finance | Not applicable | 10–14 working days |
| Union Bank | 3 years | 12–20 working days |
| Credila | 2 years (or bank statements) | 5–8 working days |
| ICICI | 3 years | 7–14 working days |
| Axis Bank | 3 years | 7–14 working days |
| IDFC First Bank | 3 years | 7–10 working days |
| Yes Bank | 3 years | 7–14 working days |
| Poonawalla | 2 years | 5–8 working days |
| Tata Capital | 2 years | 5–7 working days |
| Avanse | Bank statements accepted | 5–7 working days |
| Auxilo | 2 years | 5–7 working days |
Tips for a faster approval
- Make sure names, dates of birth and addresses match exactly across PAN, Aadhaar, passport and marksheets.
- Keep self-attested copies ready and originals available for verification.
- Apply 6–8 weeks before your visa appointment if you need the sanction letter as financial proof.
- Check your eligibility first so you apply to lenders likely to approve you.
- Plan repayments in advance with the education loan EMI calculator.
Pilot training loans
Pilot training has a few extra document checks on top of the usual list.
- 10+2 with Physics and Maths
- A DGCA Class 2 medical, and ideally Class 1, before the loan is disbursed
- An offer letter from a flying school, or an LOI from a sponsoring airline
- Without property, with an LOI from a sponsoring airline: a co-borrower earning at least ₹6 lakh a year for most amounts
- Without property and without an LOI: co-borrower monthly income about ₹30,000 more than the EMI
Check your pilot loan route
See which route fits your property, co-borrower income and programme cost.
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Documents Required for Education Loan FAQs
Straight answers to the questions students ask us most
You'll need KYC for the student and co-applicant (PAN, Aadhaar, passport, address proof, photos), the student's academic records (10th, 12th, graduation marksheets and test scores), the admission letter and fee structure, the co-applicant's income proof (salary slips and Form 16, or ITRs, plus 6 months' bank statements), and property papers if you offer collateral.
A valid passport, test scores such as GRE, GMAT, IELTS or TOEFL, and the university's official acceptance document, the I-20 for the USA, CAS for the UK, CoE for Australia or the letter of acceptance for Canada. Lenders also need the fee structure to plan disbursements to the university.
For a self-employed co-applicant, most banks ask for 3 years of ITRs, while NBFCs such as Credila, Auxilo, Poonawalla and Tata Capital accept 2 years. Avanse also considers bank statements for informal income. Salaried co-applicants usually need salary slips and Form 16 instead.
Yes. Many lenders give an in-principle approval or pre-admission sanction based on your profile, which helps with visa financial proof. The final sanction and disbursement need the admission letter and fee structure.
No. Collateral papers are needed only if you're taking a secured loan. Loans up to ₹7.5 Lakhs at public sector banks, and larger unsecured loans from private banks and NBFCs for eligible universities, don't need property documents.
With a complete file, NBFCs typically sanction in 5–8 working days and banks in 7–25. Missing or inconsistent documents are the most common cause of delays, so check names and dates match across all papers before submitting.
More education loan guides
- Education Loan Without Collateral
- Education Loan Without Co-Applicant
- Compare Study Abroad Education Loans
- Education Loan Interest Rates
- Education Loan Eligibility
- Education Loan EMI Calculator
- Education Loan for Study Abroad
Related articles
- How to Close an Education Loan and Get Your No Objection Certificate
- Parents' ITR and Marks in an Education Loan: What Lenders Ask For
- Education Loan Without ITR: What Lenders Ask From a Self-Employed Co-Applicant
- How to Secure an Education Loan With a Retired Co-Borrower
- Education Loan for Students With Divorced Parents: Who Can Be the Co-Applicant?
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