Student Education Loan by Kotak Mahindra Bank | Eligibility, Documents & more

Scholarship Examination in India

In this article, you will find the complete details of the Student Education Loan provided by Kotak Mahindra Bank such as Eligibility, Eligible courses, Documents required and more.

 

Eligibility:

Age Eligibility

  • There is no specific restriction regarding the age of a student in order to be eligible for an education loan.
  • Age of joint applicant/co-borrower/guarantor should be minimum 21 years at the time of loan origination and maximum age at the time of loan maturity can be 70 years.

If the student was a minor while the joint applicant/co-borrower/guarantor executed the document for the loan, the bank will obtain a letter of ratification from him/her upon attaining majority.

 

Student Eligibility:

  • The student should be an Indian National
  • The student shall have secured the admission in India or abroad through an entrance test or through the merit-based selection process

 

Eligible Courses:

India

  • Post-Graduation Courses: Masters and Ph.D. from accredited institutions.
  • Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, and Computer Sciences.
  • Other professional courses such as CA, ICWA, CS, and CFA.
  • Masters and Diploma Management Programs.
  • Other courses leading to degree/diploma conducted by colleges/universities approved by UGC / Govt. / AICTE / AIBMS / ICMR, etc.
  • Regular Degree/Diploma course like aeronautical, pilot training, shipping, nursing or any other discipline approved by Directory General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  • Any other course as shall be declared from time-to-time.

 

Studies abroad

  • Graduation: Reputed universities.
  • Post-graduation: MCA, MBA, MS and other courses as shall be declared from time-to-time.
  • Other courses such as CIMA – London, CPA in the USA, CFA, CISA, and other approved courses as shall be declared. Degree/Diploma course like aeronautical, pilot training, shipping, etc. provided these are recognized by competent regulatory bodies abroad for the purpose of employment in India/abroad.

 

Documentation:

Document

Applicant

Co-applicant/ co-borrower

Guarantor

Application Form

Yes

Yes

Yes

2 photographs

Yes

Yes

Yes

Proof of Identity

Yes

Yes

Yes

Proof of Residence

Yes

Yes

Yes

Signature verification from bank

Yes

Yes

Yes

Income Details

No

Latest payslip or Form 16 or 2 years ITR

Latest payslip or Form 16 or 2 years ITR

Proof of Ownership

Yes

Yes

Yes

Proof of Relationship

Yes

Yes

Yes

Confirmed admission letter

Yes

No

No

Letter from college

Details of course and fee structure to be paid

No

No

Academic Pass out Mark sheet/Certificate

Yes

No

No

 

  For further details, please click here
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