At DreamDev Loan, we believe that education is the key to unlocking a brighter future for everyone. We are a passionate team dedicated to empowering individuals with the financial support they need to pursue their dreams. Each of us experienced firsth and the challenges and barriers that can stand in the way of higher education. Together, we’ve made it our mission to break down those obstacles by offering accessible and affordable education loans tailored to meet diverse needs.
To be eligible for an education loan, applicants must be aged 18 to 35 with a good academic record, and have secured admission to a recognized institution. The loan covers professional and technical courses, and the co-applicant must have sufficient income to ensure repayment. Collateral may be required for higher loan amounts, and the applicant must be an Indian citizen or NRI.
* Loan Application Form
* Proof of Identity: PAN card, Aadhar card, passport, voter ID, or driving license.
* Proof of Address: Utility bills, Aadhar card, passport, or rental agreement.
* Proof of Age: Birth certificate or 10th-grade certificate.
* Proof of Admission: Admission letter from the educational institution.
* Academic Records: Mark sheets, certificates of previous education.
* Income Proof: Salary slips, IT returns, or Form 16 of the co-applicant.
* Bank Statements: Recent 6 months' bank statements of the co-applicant.
* Collateral Documents (if applicable): Property papers, FD certificates.
* Passport-sized Photographs (recent).
What is an education loan?
An education loan is a financial assistance program that is designed to help students pay for their higher education expenses, including tuition, books, and living costs.
Who is eligible for an education loan?
Students who have secured admission in recognized courses from recognized universities in India or in abroad. Typically, the student must be a citizen of the country and may need a co-applicant, such as a parent or guardian, who meets the financial criteria.
What is the interest rate in Education Loans ?
Interest rates vary by lender and depend on factors such as the course, loan amount, and borrower’s credit profile. Rates can be fixed or floating and are generally between 8% to 15% per annum.
