Saraswat Bank Education Loan

Saraswat Bank Education Loan gives you clear loan options with a simple document list, online application, and interest rates beginning at just 9%.

(supported by Govt. of India) Enter your registered Email address to login Proceed Not have an account? Signup here Submit Resend OTP Check Your Eligibility Connect with us +91 988 988 10 70 (only for Indian users) By subject Arts Scholarships Architecture Scholarships Sports Scholarships Engineering Scholarships Law Scholarships MBA scholarships Undergraduate Scholarships Masters Scholarships PhD Scholarships Post-Doc Fellowships Scholarships for women Postgraduate scholarships By country of interest US Scholarships UK Scholarships Germany Scholarship Australia Scholarships Canada Scholarships Ireland Scholarships France Scholarships New Zealand Scholarships Netherlands Scholarship Education Loans Education Loan SBI Education Loan Bank of Baroda Education Loan Avanse Education Loan Canara Education Loan Incred Education Loan Punjab National Bank Education Loan Auxilo Bank Education Loan ICICI Bank Education Loan VidyaLoans Tools Education Loan EMI Calculator INR to USD Loan Calculator Loan Take over calculator Tax Rebate Calculator Loan Eligibility checker Connect with us +91 988 988 10 70 (only for Indian users) We're hiring! About us Blog Testimonials FAQs Contact us Feedback Terms & Conditions Privacy Policy Media coverage Sitemap Partner Login International Campus Delegate Program Consultancy Preferred Partners Report a error

Saraswat Bank requires an applicant to mandatorily submit the below listed necessary documents: Application form Education loan form with 2 attested photographs of passport size(An online application form filled out on the Subraxo website is acceptable). Basic documents for Applicant (student) and co-applicant and/or Guarantor Address proof of applicant and guarantor – Passport/ Voter ID Card/ Telephone Bill/ Electricity Bill/ Ration card/ Aadhar card/ Statement of bank account (if current and permanent address are same, then 2 different proofs will be required) Identity proof – PAN Card (and Passport of the student if going abroad) Last 6 month’s bank account statement (Personal/ Salary). It should show the salary credits if salaried or 1 yr business transactions if the co-applicant is self-employed. Statement of personal asset & liability (verified by the branch professional) Documents must be self-attested. Applicant's academic documents Fee structure as given by the college or university Certificates and mark sheets of class - 10th, 12th, Degree Entrance exam scorecard Admission proof for the course (mentioning estimate of course fees and other expenses) Fee receipts or proof of payments made Income documents of co-applicant If Salaried Employers ID card Form 16 of last 2 years Last 3 month’s bank statements Recent salary slips (for the last 3 months) Income Tax Return of last 2 years If Self-employed ITR of last 3 years The balance sheet of the last 3 years with all profit and loss statements of business Address proof of business Bank statement for the last 3 months Other Documents Statement of the co-applicant mentioning that all other expense

The repayment of the education loan at Saraswat Bank is quite simple and is spread up to a maximum tenure of 12 years (without including the moratorium period in the 12 years) For instance, if a student takes an education loan of Rs 50 lakhs at 10% interest to pursue studies in foreign Universities and he/she chooses to pay back the loan in 12 installments then the amortization schedule would be as follows: Repayment Cycle EMI Interest portion Principal portion Loan Outstanding Start of loan EMI 67223 46875 20348 5604652 End of year 1 67223 44930 22293 5369314 End of year 2 67223 42596 24627 5086854 End of year 3 67223 40017 27206 4774817 End of year 4 67223 37168 30055 4430106 End of year 5 67223 34021 33202 4049299 End of year 6 67223 30544 36679 3628616 End of year 7 67223 26703 40520 3163882 End of year 8 67223 22460 44763 2650485 End of year 9 67223 17773 49450 2083329 End of year 10 67223 12595 54628 1456783 End of year 11 67223 6875 60348 764630 End of year 12 67223 556 66668 0 Usually, a monthly EMI is all that must be paid till the repayment dur

The application process to take an education loan from Saraswat Bank is: Step 1: Reach out to Subraxo by requesting a callback or filling out a common application form Step 2: Give all your education loan details to your assigned financial officer over a call After analysis of your loan profile, your financial officer will suggest to you the best lenders to process your education loan. Step 3: Tell your financial officer about the lender with whom you want to start your loan process. Step 4 : Submit all the documents to the bank, as mentioned in the document checklist provided by your financial officer, to start your education loan process. Step 5: Your financial officer will take care of the process. If required, take follow-ups from them. Step 6: Take your loan sanction letter from your lender bank within 1 week from a private bank and within 15-20 days from a government bank. What will happen if you go directly to the banks to process your education loan? The process of sanctioning an education loan directly from the banks is not as simple as it is if you process your education loan with WeMake Scholars. If you go directly to the banks, you face the following issues: Unavailability of correct information Issues in legal and valuation reports Lack of proper customer service No particular list of required documents Multiple visits to the banks Delay in the process No clear idea about the eligibility for an education loan Read More