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Documents Required for Education Loan in SBI- Applying for an education loan from the State Bank of India (SBI) can be a smooth process if you have all the right documents. Many students face unnecessary delays simply because they’re unaware of what paperwork is required and when.
In this blog, we’ll break down the documents required for education loan in SBI in a structured manner, covering application, sanction, post-sanction, and disbursement stages. Let’s simplify the process so you can focus on your studies, not paperwork!
This Blog Includes:
Why are Documents Required for Education Loan in SBI?
SBI offers a wide range of education loans, especially for Indian students planning to pursue higher studies abroad. One of the most sought-after options is the SBI Global Ed-Vantage Education Loan, specially designed for overseas education.
However, students often underestimate the importance of documentation. SBI clearly states that it begins the process once you submit your completed loan application with all supporting documents required for education loan in SBI.
All loan-related documents should be executed by both the student and the parent/ guardian as joint borrowers.
If the student is a minor, the documents must be signed by the guardian both for self and on behalf of the minor.
SBI typically takes a maximum of 15 working days to process your loan. This timeline only starts after receiving all the necessary documents. Any delays in submission or incomplete paperwork from your side won’t be counted in these 15 days.
Also Read: SBI Zero Balance Account: Features, Account Opening
Document Checklist for SBI Education Loan
To make it easier for you, we’ve divided the documents required for education loan in SBI into four key categories:
SBI Documents Required at the Time of Loan Application
The loan application is the first and most crucial stage. Missing any of these may result in delays or even rejection.
Below is the list of documents required for education loan in SBI to be attached with the loan application-
- Completed SBI Education Loan Application Form
- Passport-size photographs of the applicant and co-applicant
- Photo ID proof (Aadhaar card, PAN card, passport, or driving license)
- Address proof of student and co-applicant
- Academic records:
- Class 10th, 12th mark sheets
- Graduation mark sheets (if applicable)
- Entrance exam scorecards (GRE, GMAT, IELTS, etc.)
- Admission letter from the educational institution
- Fee structure from the university or college
- Proof of admission expenses such as accommodation, travel, etc. if available
- Bank account statement of last 6 months (of co-applicant)
SBI Documents Required During Loan Sanction
Once your application is accepted, SBI may ask for additional documents to verify your loan eligibility. Thus, the applicant is required to submit documents related to income and collateral.
Check out the list of documents required for education in SBI during the sanction period.
- Income proof of the co-applicant (Form 16, salary slips, ITR, etc.)
- Statement of assets and liabilities of co-applicant
- Proof of collateral (if applicable, especially for Global Ed-Vantage loans)
- Affidavit of relationship between applicant and co-applicant
- Legal and valuation report from SBI-approved advocates/valuers (for secured loans)
However, in the case of SBI’s collateral-free education loan to study abroad, you don’t have to worry about collateral documents.
SBI Documents Required After Loan Sanction
After your loan is sanctioned, you’ll be required to sign the necessary agreements and submit more documents. Most of these documents include undertakings and signing the terms and conditions.
Below is the list of documents required for education loan in SBI after loan sanction.
- Loan agreement signed by both student and co-borrower
- Sanction letter acceptance by the applicant
- Undertaking for course completion and repayment
- Insurance papers, if availing of loan insurance
- Post-dated cheques or ECS mandate for EMI payments
SBI Documents Required for Loan Disbursement
Loan disbursement is usually done in instalments as per the requirements of the university. The following documents are needed for each disbursement:
- Disbursement request letter from the student
- Fee demand letter/invoice from the university or college
- Forex remittance form, if the disbursement is for an overseas university
- Proof of previous disbursements/ utilisation (bank statement or university receipts)
Documents Required for Education Loan in SBI PDF
To make things easier for you, we’ve compiled a detailed checklist of the SBI education loan documents required into a simple, downloadable format.
Whether you’re applying under the Global Ed-Vantage scheme or a regular education loan, this section ensures you won’t miss out on any critical paperwork.
You can use this as your personal document checklist for an education loan from SBI and keep it handy while preparing your application!
Also Read: SBI Personal Loan: List of Loans, Interest Rates & More
Common Mistakes to Avoid While Submitting SBI Education Loan Documents
Even if you have all the necessary documents, a few small but critical errors can lead to delays or rejections in your SBI education loan process.
Thus, taking extra time to review your SBI education loan document checklist can save you from unnecessary stress and delays. Getting it right the first time can help you receive your loan within the promised timeline and focus on your academic journey stress-free.
Here are some common pitfalls that students and parents should avoid:
Incomplete Forms
One of the most common mistakes is submitting the loan application form with missing or incorrect information. Even a single blank field can delay your loan process.
Tip: Fill out the form carefully and double-check every section before submission. Verify details like course name, university address, fee structure, and bank details to ensure accuracy.
Missing Signatures
SBI mandates that the student and the parent/guardian must sign the documents as joint borrowers. If the student is a minor, the guardian must sign both “for self” and “on behalf of the minor”.
Tip: Go through every page of the application and agreement to ensure all required signatures are in place. Don’t miss any initials or pages that require signature confirmation.
Expired or Invalid ID Proofs
Submitting documents like Aadhaar, PAN card, or passports that are expired or not updated with current details (e.g., address or photo) can result in rejections or verification delays.
Tip: Always use valid and up-to-date identification proofs. Renew expired documents beforehand and ensure consistency in details across all documents (like name spelling and address).
Unclear or Illegible Photocopies
Banks will not accept blurry or poorly scanned copies of essential documents. This can especially be problematic for important records like mark sheets, admission letters, or ITRs.
Tip: Submit clear, high-resolution photocopies or scanned versions. Always carry the original documents when visiting the bank so they can be verified if needed.
To sum up, the documents required for education loan in SBI might seem overwhelming at first, but organising them by stages makes the process far more manageable.
Remember, the faster you submit a complete set of documents, the quicker SBI can process your loan. With schemes like the SBI Global Ed-Vantage, thousands of Indian students are making their international education dreams come true.
If you have any questions, check out the FAQs section below or drop them in the comments.
FAQs
To apply for an education loan in SBI, students must submit:
– Identity proof (PAN, Passport, Voter ID, etc.)
– Address proof (Aadhaar, utility bills, Driving License, etc.)
– Admission letter (even a conditional one is accepted)
– Past academic records
– Statement of expenses
– Passport-size photographs
– Bank statements (if applicable)
– Co-applicants also need to submit their ID proof, address proof, photographs, and income documents.
SBI requires that both the student and the parent/guardian sign the documents as joint borrowers. If the student is a minor, then the guardian must sign both for self and on behalf of the minor. This ensures legal accountability and smooth processing.
No, SBI generally requires self-attested photocopies of all relevant documents. However, during verification, the bank may ask to see the original documents. It’s a good idea to carry them when you visit the branch.
Yes, SBI requires income proof for all co-applicants or guarantors, whether they are salaried or self-employed. This includes salary slips, ITR, bank statements, and a statement of assets and liabilities. The bank uses these to assess repayment capacity.
No, not all SBI education loans require collateral. For example:
– Global Ed-Vantage Scheme (for studying abroad) requires collateral security.
– SBI Student Loan Scheme (for Indian institutions) may not need collateral for loan amounts under a certain limit.
Always check with the bank based on your loan amount and chosen scheme.
SBI processes education loans within a maximum of 15 working days from the date of receiving a complete application with all supporting documents. Any delays in submitting the required documents by the applicant will not be counted in this 15-day timeline.
Yes, SBI accepts conditional admission letters as valid proof of admission during the loan application stage. However, final sanction and disbursement will typically require the final admission letter or confirmation from the university/institution.
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