Documents Required for an Education Loan

A. Application Form

• Completed application form/digital application form

B. Know Your Customer (KYC) Documents

• Permanent Account Number (PAN) or Form No. 60 as defined in Income Tax Rules, 1962 (Mandatory for applicants where PAN details are provided)
• An officially valid document containing details of your identity and address (Any one of the following) KYC needed – Need not match with the address (Present/Permanent)
  • Passport
  • Driving license
  • Voter’s identity card issued by the Election Commission of India
  • Job card issued by NREGA, duly signed by an officer of the state government
  • Proof of possession of the Aadhaar number
  • A letter issued by the national population register containing details of name and address

C. Education Related Documents

• Academic Documents of Student (All the below)
  • Mark sheet/Certificate of 12th or equivalent (Not required for a student who is appearing 12th & planning for UG courses or Executive PG courses)
  • Mark sheet/Certificate of last semester/Year/Degree/Consolidated marks transcript, e.g. BE, BCom, BSc, etc. (Last completed semester's marksheet, in case the student is appearing for the Final semester/degree exam)
  • Mark sheet of any entrance exam (whichever is applicable)*

    Studies in India: CAT, CET, etc.
    Studies Abroad: GRE/GMAT/TOEFL/IELTS

• Proof of admission – Required if received / Waived for Sampoorna applications
• Admission Letter / I-20

D. Financial Documents

D.1 Co-Applicant: Salaried (All the Following)

• Bank Statement: The Latest 6 months’ bank statements of the account where salary is credited.
• If submitting an online statement, it should be up to 30 days old from the date of the loan application.
• If submitting a passbook, it should be updated within 60 days before the login.
• Salary Proof: Any one of the following from the last 3 months:
• Salary slip
• Salary certificate

  (Salary amount should match the bank credit entries)

D.2 Co-Applicant: Self-Employed (All the Following)

Bank Statement Requirements for Self-Employed Co-Applicants

• Current Account (if available): Last 6 months’ bank statements where business income is received.
• Savings Account: Last 6 months’ statements of the main personal account.
• If you're submitting online statements, they must be updated within 30 days before applying.
• If you're using a passbook,it should be updated within 60 days before applying.

Example: If you're applying in October, your statements should be updated at least till the end of August.

Personal ITR:

• Submit last 2 years’ personal income tax returns with an acknowledgement or Saral page.
• Online ITRs are accepted.
• If the complete ITR is available online, you don’t need to submit separate documents like profit & loss statement, balance sheet, or income computation.

If Filed Under Section 44AD (Presumptive Tax):

• Only a Statement of Income is required.
• No need to submit P&L, balance sheet, or get a CA attestation.

If Tax Audit Is Not Required:

• No CA attestation is needed.

If Tax Audit Is Applicable:

• CA attestation is mandatory.

Note: Cases logged in post 1st Nov need to be accompanied by the latest IT returns for all unless timeless have been extended by IT Department

• Copy of qualification/degree certificate – Only for professionals
• GST registration / Shop act licence / Aadhar Udyog for SENP – If available (Proof of Business)

D.3 Co-Applicant: Self-Employed – Proprietorship ollowing

If the co-applicant is self-employed and runs a proprietorship business, here are the documents required:

• Bank Statements:
• Current Account (if applicable): Last 6 months' statements showing business income.
• Savings Account: Last 6 months' statements of the main personal account.
• For online statements, make sure they’re updated within 30 days before applying.
• For passbook entries, they should be updated within 60 days.

Example: If you’re applying in October, statements should be updated at least till the end of August.

• Income Tax Returns (ITR):
• Last 2 years’ personal ITRs with acknowledgement.
• Online ITRs are accepted. If the full ITR is available online, no need to submit a separate profit/loss or balance sheet.
• For Returns Filed Under Section 44AD (presumptive income):
• Only a Statement of Income is needed. No balance sheet, profit/loss statement, or CA signature required.
• If Tax Audit Applies:
• Submit last 2 years’ audited financials (includes income computation, balance sheet, P&L, and all schedules).
• CA attestation is needed only if the business qualifies for a tax audit.

Applicability of Tax Audits:

Any business where the total sales, turnover, or receipts exceed Rs. 1 crore in a year should have a tax audit in India. As a professional, receipts over Rs. 50 lakh makes you eligible for a tax audit.

Note: Cases logged in post 1st Nov need to be accompanied by the latest IT returns for all

D.4 Co-Applicant: No-Income Category (All of the Following)

• Latest 6 Months Savings A/c bank statements of primary account to be enclosed for a period up to 30 days before the date of login (For Passbook – 60 days before login).

D.5 Co-Applicant: Pensioner (All of the Following)

• Latest 6 months savings A/c bank statements of primary account with credited pension amount or Pension Order for a period up to 30 days before the date of login (For Passbook – 60 days before login).

E. Collateral Documents (All of the Following)

• Latest registered sale deed
• The available property tax receipt
• Approved building plan (if applicable) or Occupation certificate

Disclaimer: *T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.