Kotak Mahindra Bank Education Loan

Features of Kotak Mahindra Bank Education Loan

1. Kotak Mahindra Bank's education loans are tailored to support aspiring individuals in their pursuit of higher education, whether it's within India or abroad. 
2. Kotak Mahindra Bank education loans offer a swift approval process, ensuring that you can embark on your educational journey without delay. 
3. Experience minimal documentation requirements with Kotak Mahindra Bank's education loans, simplifying the application process and saving you time and effort. 
4. Access substantial loan amounts of up to Rs. 10 lakh for education within India and up to Rs. 20 lakh for education abroad with Kotak Mahindra Bank's education loans, enabling you to pursue your academic aspirations with confidence. 

Eligibility Criteria for Kotak Mahindra Bank Education Loan

The eligibility conditions to apply for a Kotak Mahindra Bank education loan are as follows:

Age Eligibility: 

There is no specific age restriction for students to qualify for an education loan. However, for joint applicants, co-borrowers, or guarantors, the minimum age at loan origination should be 21 years, and the maximum age at loan maturity can be 70 years. If the student is a minor, when the joint applicant, co-borrower, or guarantor signs the loan documents, the bank will require a letter of ratification upon the student reaching adulthood. 

Student Eligibility:

The student must be an Indian National. Admission to a course in India or abroad should be secured through an entrance test or merit-based selection process. 

Eligible Courses for Kotak Mahindra Bank Education Loan

In India:

1. Post-graduation Courses: Masters and Ph.D. from accredited institutions. 
2. Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, and Computer Sciences. 
3. Other professional courses include CA, ICWA, CS, and CFA. 
4. Masters and Diploma Management Programs. 
5. Courses leading to a degree or diploma are offered by the UGC, government, AICTE, AIBMS, or ICMR-approved colleges or universities. 
6. Regular Degree or Diploma courses such as aeronautical, pilot training, shipping, nursing, or other disciplines recognised by regulatory bodies like the Directorate General of Civil Aviation, Shipping, or Indian Nursing Council. 
7. Any other courses declared eligible over time. 

Studies Abroad: 

1. Graduation: Programs offered by reputed universities. 
2. Post-graduation: MCA, MBA, MS, and other courses as declared. 
3. Other approved courses include CIMA - London, CPA in the USA, CFA, CISA, and other courses. 
4. Degree or Diploma courses like aeronautical, pilot training, shipping, etc., are recognised by competent regulatory bodies abroad for employment purposes in India or abroad. 

Documents Required for Kotak Mahindra Bank Education Loan

To apply for an education loan with Kotak Mahindra Bank, you need to provide the following documents: 

1. Duly filled application form 
2. Identity proof 

1. Address proof 
2. Passport size photographs 
3. Form 16/Latest salary slips/Income tax returns for two years 
4. Signature verification from the bank 
5. Confirmed admission letter from college 

1. Letter from college including fee structure and course details 
2. Academic Grade Report/Certificate 
3. Relationship proof 
4. Ownership proof 

How to Apply for Kotak Mahindra Bank Education Loan 

You can apply for an education loan with Kotak Mahindra Bank online as well as offline by visiting the nearest branch of the bank.

The education loan application form is available on the official website of Kotak Mahindra Bank. You need to fill it out with your details and submit it to the bank.  

Kotak Mahindra Bank Education Loan Calculator 

To calculate the Education Loan Equated Monthly Instalments (EMIs), you can use BankBazaar’s EMI calculator. The calculator helps you save time and is simple to use. All you have to do is enter the loan amount, interest rate, processing fee, and tenure. 

The details about interest paid, remaining balance, and principal paid will be displayed

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