J&K Bank - Education Loan
PSU BANKS
No collateral needed
Loan Margin : 15%
7 days avg loan processing time
Margin
15%
Collateral
No
Loan Tenure
Upto 15 Years
Processing fee
1.0% onwards
Early Repayment
No
Living Cost
No
Secured Loan
Amount
Up To 30Lac
Un-Secured Loan
Amount
Up To 0
UniCreds Guarantee
Quick Loan Sanctions
100% Transparency
No Hidden Fees
24x7 Support
Feature
Jammu and Kashmir Bank provides a range of study-abroad loans per students' needs. The loan schemes serve different purposes enabling students to pursue their education abroad without any financial hurdles. Various J&K Bank education loan schemes are available, whether pursuing higher education abroad or undertaking M.Ed or B.Ed courses. They aim to empower financially disadvantaged but academically exemplary students to pursue their dreams of studying abroad.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto ₹30Lac (Collateral) Note: Higher quantum of loan may be considered on course to course basis (e.g. courses in IIMs, ISB etc.) taking into account the future prospects, employability and reputation / recognition by Educational Institution |
| Margin money | 15% |
| Processing fee | 1.0% onwards For Studies abroad –Processing fee (upfront) @ 1% of the loan amount sanctioned with a maximum of Rs.5,000 for considering loans for studies abroad. The fee would however, be refunded upon the student taking up the course (loan is disbursed) or if the loan is not sanctioned by the bank. The fee would not be refunded if a sanctioned education loan for studies abroad is not availed by the student. |
| Processing time | 7 Days |
| Loan tenure | 15 Years |
| Prepayment charges | Nil |
| Repayment holiday | Course period + 1 year |
Looking for
Faster and
streamlined Process?
100% Transparency
100% Free
Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Eligibility
- To be eligible for this scheme, you must be an Indian national.
- You should have gained admission to a higher education course in a recognised institution in India or abroad through an entrance test or merit-based selection process after completing HSC (10 plus 2 or equivalent).
- The upper age limit for this scheme is 35 years, but it may be relaxed on a case-by-case basis.
For Co-Applicants/ -
International students applying for a J&K Bank student loan must have a co-applicant or a co-borrower when applying for their education loan. Some of the documents required to be submitted by the co-applicant in order for the education loan to be -
- Latest Qualification Certificates
- Proof of Admission to the University
- Proof of Income
- Proof of Identity
- Proof of Residence
- Any other documents, if specified by the Bank
Eligible Courses
Students pursuing the following courses are eligible for the J&K Bank education loan -
- Graduation: Job-oriented professional/technical courses offered by reputed universities.
- Post-Graduation: MCA, MBA, MS, and other similar courses.
- Courses conducted by institutions like CIMA-London and CPA in the USA.
- Degree/diploma courses in fields such as aeronautical, pilot training, and shipping, provided they are recognized by competent regulatory bodies in India/abroad for employment in India/abroad.
It is important to note that the above list is not exhaustive, and the bank may approve other job-oriented courses leading to technical/professional degrees and post-graduate degrees/diplomas offered by recognized institutions under this scheme.
Documents Required For J&K Bank Education Loan
When applying, there are certain documents that students must submit/attach. The following are the documents required -
STUDENT
1. Pan Card
2. Aadhar Card
3. Passport
4. University Admission Letter
5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc.
6. Academic: 10th, 12th & Degree - All semester Individual Marksheets
7. Resume
8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors)
9. 3 months Salary slips (If Applicable)
10. 6 months Bank Statements (If Applicable)
11. Form 16 / ITR (If Applicable)
MOTHER & FATHER (BOTH COMPULSORY)
1. Pan Card
2. Aadhar Card
3. Mobile Number & Email ID
CO-SIGNER (Salaried-Job)
1. PAN Card & Aadhar card
2. Latest 3 months salary slips
3. Latest 1 Year Salary Credited Bank Statements
4. Latest 2 Years Form 16
5. Electricity Bill
6. Mobile Number & Email ID
IF
CO-SIGNER (Self Employed/Business)
1. PAN Card & Aadhar card
2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet
3. Business proof (GST, UDHYAM ADHAR, and GUMASTA)
4. Latest 1 Year Bank Statement (Income Credited)
5. Electricity Bill
6. Mobile Number & Email ID
For Collateral Loan :
Collateral Documents
1. Registered Sale Agreement (All chains)
2. Share Certificate
3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt
4. NA conversion certificate in case of Plot.
5. OC/CC and Approved Building Plan.
6. 7/12 Extract
7. Society NOC
8. Any other Documents associated with Property
| Type | Requirement |
|---|---|
| Eligibility Criteria | 1. Should be an Indian National. 2. Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). 3. There is no specific restriction with regard to the age of the student to be eligible for education loan. 4. The upper age limit shall be capped at 35 years, which can be relaxed on case to case basis. |
Benefits
Benefits Of Getting Your Education Loan Through UniCreds
Get Guidance at every step of your loan application
We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.
Need Guidance Faster? Call us at:
18001217661
Start your journey now
Help us with a few details
Need Guidance Faster? Call us at:
18001217661
How to Apply
- Once you've established your eligibility, you can submit an online application or get in touch with one of our expert education loan counsellors to schedule a callback.
- After you've submitted your profile information, our specialists will carefully review it and, based on your eligibility, recommend the next course of action to you.
- UniCreds enables students to upload documents digitally, sparing you the trouble of presenting your documents at the bank and allowing you to do it from the convenience of your home.
- In addition, it gives you a customised set of documents to submit based on your profile and the loan you've applied for to speed up the process.
- Once your documents are uploaded & KYC is verified, you can expect your loan to get sanctioned within a few working days, as specified.
A few disadvantages of applying for a JK bank education loan directly through the bank, i.e. the traditional approach -
- You may not get the accurate list of required documents the first time you visit the branch.
- Banks usually dismiss applications in case of missing documents/paperwork, property issues, or other problems.
- It may additionally be time-consuming due to several branch visits and long queues at the bank.
To make it easier & convenient, we helps students secure their abroad education loan with JK Bank by directly getting in touch with the bank officials & finding the best solution.
Looking forFaster and
streamlined Process?
100% Transparency
100% Free
Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.
Documents
| Type | Documents Required |
|---|---|
| For Borrowers | STUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID |
| Co-Signer | CO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business) 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID |
| Collateral Loan | Collateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property |
Loan Repayment
For a JK Bank student loan, the moratorium period is for the entire course duration plus an additional year. The repayment period for the same is 15 years*, inclusive of the moratorium period.
This aside, students with a Jammu and Kashmir Bank education loan can also close their loan payment before time. Here’s how -
- Pre-payment options
- Opting for a shorter repayment duration
- Loan transfer to another bank
The displayed EMI amount is approximate & is subject to change based on various factors.
What our Students say about us
Frequently Asked Questions