Welcome to the viewing of the 30th episode of Loanflix. This episode will tell you all about the education loan documents required for unsecured education loan. The education loan documents required for an education loan with collateral was discussed previously in the 4th episode of Loanflix. In this episode, our education loan expert will give you the complete list of the documents required for unsecured education loan in India.
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan.
No education loan process can run smoothly without the appropriate documentation. The unsecured education loan process is not any different. More than government banks, NBFCs are very particular about education loan documents in the unsecured education loan process. To many, the process of collecting their documents for education loan may seem like a tedious process. With this episode, we aim to give you a clear picture of the various categories of documents required for education loan in India.
The following categories of documents required for education loan are discussed in this 30th episode of Loanflix.
Education Loan Documents to Be Submitted By Co-applicants
This statement may seem unbelievable, but a lot of students who apply for Non collateral education loans are very confused about most of the documents that their co-applicants need to submit at their lending NBFC. Also, when it comes to borrowing non collateral education loans, NBFCs are very particular about the documents submitted by co-applicants.
In order to reduce further confusion, we have divided the list of documents into two categories, based on the nature of employment of co-applicants. Do pay attention to the information being shared at the beginning of this 30th episode.
Income-Related documents to be submitted by Salaried Co-applicants
What are the documents required for education loan to be submitted by co-applicants who have a stable source of income? Is the list of documents separate for those who are salaried? If these questions are on your mind, then you should definitely watch out for this part of the 30th episode. In this section, Damini, our education loan expert, lists out the various income-related documents that salaried co-applicants need to submit.
Income-Related documents to be submitted by Self-employed Co-applicants
Is it compulsory to submit ITR documents for unsecured education loans? What if my co-applicant does not possess them? Will it still be possible for me to get an unsecured education loan? Watch out for the second half of the beginning of this 30th episode of Loanflix to get a better understanding about what kind of education loan documents are to be submitted by self-employed co-applicants.
Education Loan Documents to Be Submitted By Loan applicants
Candidate’s Academic Documents:
A candidate’s academic documents are equally important in the unsecured education loan process as the co-applicant’s income documents. In this part of the 30th episode, you will get to know all the education loan documents, specific to a candidate’s academics, that are to be submitted at the lending NBFC for unsecured education loans.
Common KYC Documents to be Submitted by Both Applicants as well as Co-applicants
Apart from the separate list of education loan documents, there is a list of certain common documents required for unsecured education loans. Learn about the entire list in this part of the 30th episode.
Other Documents To be Submitted by Candidates
We understand that not all candidates who borrow non collateral education loans are unemployed. If you are someone who has worked prior to getting enrolled in a university abroad for higher studies, then you may have to submit certain specific documents that provide proof of your employment. Watch out for this section of the episode if your profile is somewhat similar to this description.
Safety Of Your Documents
As is our nature, we happen to be too concerned about the safety of our documents. Well, prevention is better than cure, right? In this section of the 30th episode, you will get to learn what are the risks of sending the digital copies of your education loan documents to NBFCs and how you can prevent any of them from happening.
In conclusion, it can be said that, by the end of this episode, you will be well aware of the various education loan documents that are to be submitted to get your unsecured education loans in a hassle-free manner.
Date And Time
Timezone : (GMT+05:30) Chennai
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Damini is the Cofounder & CEO of WeMakeScholars.com. It’s a BITS start up supported and funded under the IT Ministry, Govt. of India. The organisation’s motive is to offer unbiased collateral/non-collateral based education loan support to students who are planning for studying abroad. As this initiative is under the digital India campaign, it's at free of cost. WMS works with 14+ banks (public/pvt) in India and help you get the best edu loan matching your profile.
Prior to launching WeMakeScholars, Damini had done her masters from the University of Sheffield, UK. Her education was funded under the Developing Solutions Masters Scholarship which covered her full tuition fee ($ 38,000). Damini is also a gold medalist in her Bachelors and also won the outstanding student award from the Vice president of India.
She was the speaker at TiECon 2016 at Silicon valley, San Francisco in the social entrepreneurship segment. She was also covered in the Asian Entrepreneur magazine in the “Women on Top in Tech”, a global series of Women Founders, CEOs & Leaders in Tech.