Education Loan

Most banks aim to provide the much needed financial support to deserving students for pursuing higher professional or technical education in India and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses The Education Loams to students will ensure that worthy students are empowered to take their destiny in to their own hands.

Quantum of Loan

The quantum of finance can vary from Rs 50,000 to Rs 20.00 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc.

Margin

No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 15% margin for higher studies overseas.

Role of the Guardian:

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.

Security

Third party guarantee and/or collateral security may be asked for in appropriate cases. In some cases Additional security may also be taken from the student.

Disbursement:

The student loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution.

Purpose Salaried Others
Proof of identity Passport or Voter's ID card or driving license or PAN card or government department ID card Passport or Voter's ID card or driving license or PAN card
Proof of income Latest salary slip showing all deductions or Form 16 along with recent salary certificate IT returns for the last 2 years and computation of income for the last 2 years certified by a CA
Proof of residence Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or existing house lease agreement
Bank statement or Pass Book where salary or income is credited Last 6 months Last 6 months
Guarantor form Optional Optional
Other Documents Copy of admission letter of the Institute along with Fees schedule, mark sheets / pass certificates of S.S.C, H.S.C , Degree courses Copy of admission letter of the Institute along with Fees schedule, mark sheets / pass certificates of S.S.C, H.S.C , Degree courses

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TESTIMONIALS

Dear Cango, You guys have been part of my life through out this process. Without Meera mam and Shalini I couldn't got my Study Permit I and my mom are grateful to Meera mam and ther lovable staffs.

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Dear Cango, I special thanks to Meera Mam and Shalini Mam, for making my dream come true. After rejection to US Study Permit I felt I cant pursue any higher education. At that time one of my friend suggested me to visit CANGO.

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Dear Cango, I had a nice co-operation with the Meera mam while I had a confusion in selecting the course and Study Permit documents, preparation. But once I had a counseling with mam it was cleared.

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