Personal Loan
A personal loan is an unsecured loan that is typically used for a variety of purposes, such as debt consolidation, home improvement, medical expenses, or major purchases. Unlike a mortgage or car loan, which are secured by property or assets, personal loans do not require collateral. The lender evaluates your creditworthiness, income, and other factors to decide if they will approve the loan.
The Education Loan will be provided to those students who have:
- Indian Citizenship
- Secured at least 50% marks during HSC & Graduation
- Who have obtained admission to career-oriented courses e.g. Medicine, Engineering,
- Management etc., either at the graduate or post-graduate level
- Secured admission in India or Abroad through entrance test / merit based selection process post completion of HSC (10 + 2)
Documents for Education Loan for all other Individuals
- KYC documents
- Pass Book / Bank Statement of last 6 months
- Optional – Guarantor Form
- Copy of admission letter of the Institute along with fees schedule
- Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses
Documents required for first disbursement documents required for the first disbursement
- Demand letter from college or university.
- Loan agreement signed by applicant, co-applicants
- Sanction letter signed by applicant, co-applicants
- Disbursement request form Receipts of margin money paid to the college/university along with bank statement reflecting the transaction signed by applicant, co-applicants
- Documents for collateral security (if applicable
- Form A2 signed by applicant or co-applicants in case of overseas institute.
Documents required for subsequent disbursement
- Demand letter from college or university
- Disbursement request form signed by applicant, co-applicants
- Receipts of margin money paid to the college/university along with bank statements reflecting the transaction
- Exam progress report, mark sheet, bonafide certificate (Any one)
- Form A2 signed by applicant or co-applicants in case of the overseas institute.
- For Terms and Conditions, please contact the D.M.A. TFL.
Eligibility Criteria
- Applicants must meet the following requirements to be eligible for the loan:
- Should fulfill KYC documents requirements Age should be between 18 to 58 years Should not have an adverse credit record Should meet the acceptable credit norms according to JFG
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