IS AADHAAR CARD MANDATORY FOR AN EDUCATION LOAN?

An education loan is a personal loan for students. An applicant to apply for an education loan may either be the student itself applying for a college or university, or the parents of a minor student who wishes to pursue an education in a right school. Buddy Loan forsees these challenges and is thus providing the support through your educational journey.

Two kinds of education loans are available; one is domestic, and the other is foreign. Domestic education loan is a loan procured for attaining education in a university, school, or college within India. On the other hand, foreign education loan or education loan abroad is for those students who would wish to study abroad. Buddy Loan
perceives education to be an essential tool for not only gaining knowledge but also gaining perception.

Education loans can either be secured or unsecured. Secured education loans are those that require collateral for attaining the loan. On the other hand, unsecured education loans do not require any collateral for procuring a loan.

Buddy Loan offers unsecured personal loans for students for their educational purposes. Further, Buddy Loan also provides instant loan after the loan amount has been approved. Apply for online education loan, Buddy Loan allows the application of an online education loan with just a few simple steps that are to be followed by the applicant at any time and any place at his/her convenience.

The steps are:
 Fill out the details in the application form that relate to personal, financial, past educational achievements and          details regarding the educational course that the applicant wishes to pursue.
 Submit documents required along with the application
 Choose the loan amount between Rs. 1000 to Rs. 15 lakhs.
 Choose tenure for repayment of the loan, the choice for which ranges from 6 months to 5 years.
 Wait for your approval
 If approved, the loan amount would be credited to your bank account within 48 hours. Documents required for        applying for an education loan.

Following are the documents that would be required while applying for a student loan:

 An identity proof which can include Aadhar card, passport, driving license, or voter’s ID. Either one of the                   identity proofs is sufficient. There is no necessity for only the Aadhar Card.
 Address proof that can either be utility bills, ration card or passport
 Proof of income of the applicant’s parent/s or guardian.
 Certificate of the course completed by the applicant.
 Admission proof to the college or university or school for a specific educational course.

About the author

Mounika DV

View all posts

Leave a Reply