Education loan documents required by banks- Get to know the full list

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education loan documentsThe most common complaint we hear from the study abroad education loan applicants is that the unclear list of documents to be arranged on time. Interestingly, submitting improper education loan documents is the most common reason for the rejection of the education loan application. Hence it is prudent to know all about the education loan documents required by the bank to process your education loan application on time. This article covers a detailed description of Documents for Education loan, the fourth episode of the YouTube series “Loanflix- Education loan Simplified“.


Loanflix- Episode 4

If you are interested in watching the episode on “Documents for education loan” rather than reading the article, below is the video. It is the episode #4 in the weekly YouTube web-series Loanflix. As you might know, this web series is aimed to bridge the gap between study abroad aspirants and the banks offering abroad education loans.


Types of collateral

There are two types of Collaterals:

  1. Immovable properties (house, flat, non-agricultural lands)
  2. Liquid securities (FDs, Insurance policies, gold, govt. bonds)


Education loan documents required for immovable properties

The required list of documents for education loan when pledging immovable properties is higher when compared to liquid securities. Here is the list of education loan documents required if the collateral is an immovable property:

  1. Property title deed and the registered sale agreement.
  2. Original registration receipt for the above agreement.
  3. If any Allotment Letter issued By Municipal Corporation / Authorized Govt. Authority Like MHADA (Maharastra), CIDCO (Maharastra), HUDA (Haryana), DDA (Delhi), JDA (Jaipur), GIDC (Gujarat) etc. then that is required.
  4. Chain deed or link document or clearance document or even Encumbrance certificate (EC). It is required for a period of 30 years. This document actually shows the track record of who sold the property to whom in last 30 yrs.
  5. Latest property tax copy or Latest electricity bill.
  6. Copy of municipality approved building plan or plot layout is also required.
  7. If it is a flat then completion certificate and occupancy certificate is required for constructed properties.

Note: Banks do accept partially-constructed properties which don’t have completion certificate or OC but that’s rare. In under-constructed properties, a commencement certificate is required.


Additional education loan documents required in specific states

Apart from the above-mentioned education loan documents, there are some states that require additional documents for your education loan process.


  1. NOC from the builder/society is required in bank’s format- WeMakeScholars team will be able to assist you with the format.
  2. All payment receipts of transactions to the builder or seller are required.
  3. Index II is required.
  4. A share certificate issued by the society.
  5. Conveyance Deed of the society.
  6. Certified copy of board resolution or Power of attorney from Builder, is required.


  1. Khata extract and Khata certificate are required. Only A and E Khata properties are acceptable. B Khata properties are not acceptable.


  1. LRS is required for lands and BRS for buildings. Notary registered properties are not accepted. Proper registration papers are mandatory.

Delhi NCR:

  1. Leasehold properties are not accepted.

abroad education loan

Education loan documents required for liquid securities

If the collateral placed is liquid security, then the Education loan documents required are fewer when compared to the education loan documents required for the immovable property. Education loan documents required for different types of liquid securities are:

  1. Fixed Deposit (FD): The FD must be with the bank you are taking a loan from. An FD paper/certificate is the only education loan document required.
  2. Insurance policy: Education loan documents required are Policy paper and Surrender value certificate.
  3. Gold: Deposit gold at the bank along with proof of purchase.
  4. Government bond: A Bond certificate is the only education loan document required.


Advantages of applying for education loan through WeMakeScholars

There are other alternatives available if you do not have all the mandatory education loan documents. Commencing your loan process through WeMakeScholars will entail that our financial officers are constantly in contact with you to guide through the entire process.

Lawyers or land evaluator, more often than not, ask for the documents that are not mandatory for the education loan process. This issue can be resolved if you choose WeMakeScholars because we connect you directly to those lawyers who are both approved by the bank and are student friendly. There are many other benefits, which you can read in detail here.

If you have any other questions regarding abroad education loan or any other related topic, feel free to request a call from WeMakeScholars support team for clarifications. We are very active online and would love to answer your comments. So, feel free to leave your comment at the end of this article or on our YouTube page.


Note: WeMakeScholars is an organization funded and supported by the Government of India that focuses on International Education finance. We are associated with 10+ public/Pvt banks/ NBFCs in India and help you get the best abroad education loan matching your profile. As this initiative is under the Digital India campaign, it’s at free of cost. The organization has vast experience dealing with students going to various abroad education destinations like the US, Canada, UK, Australia, Germany, Sweden, Italy, China, France among others.

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Curiosity and Tenacity are the characteristics that dictate most of my life.


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