Why should you choose the Bajaj Finserv Loan Against Property for Education

Why should you choose the Bajaj Finserv Loan Against Property for Education

A loan against property for education is your ticket to arranging for funds for higher studies with ease. But, take a look at why you should partner with Bajaj Finserv when you’re shopping for this loan.  

Are you looking to meet expensive education expenses without cashing in your investments or dipping into your savings? A loan against property for education is the right option to turn to. But, as is the case with all loans, picking the right loan provider is imperative.

Bajaj Finserv’s Loan Against Property for Education is packed with benefits that make it an excellent option. Take a look at why you should pick Bajaj Finserv.

High loan amount:
Higher education, especially if you’re studying abroad, can be extremely expensive. Keeping this in mind, Bajaj Finserv offers Loan Against Property for Education. This way, you don’t have to take multiple loans or rely on various sources of finance. Choosing this loan is enough to meet education expenses, as Bajaj Finserv allows you to borrow up to 75% of your property’s value.

Easy top-up loan:

If you have taken a loan of less than 75% of your property’s value, Bajaj Finserv allows you to avail a top-up loan with no extra paperwork, should you need it. This top-up loan also benefits from the same long tenor and nominal interest rate.

Flexible tenor:

Along with a significant loan amount, you also stand to benefit from Bajaj Finserv’s flexible tenor. Ranging from 2 years to 20 years, you have ample time to repay the loan. Depending on your financial situation, you can pick a repayment period that is convenient for you.

Affordable interest payments:

Besides the high loan amount and the choice of tenor, the nominal rate of interest offered by Bajaj Finserv’s Loan Against Property for Education makes it a worthy contender. This keeps your loan light on the pocket and easy to repay.

Hybrid Flexi Loan feature:

What sets Bajaj Finserv’s Loan Against Property for Education apart from other similar loans is this Hybrid Flexi Loan feature. When you choose this option, you get a loan limit, against which you can borrow sums of money as and when you need to. Its USP is that you will only have to pay interest on the amount of money that you actually use, and not the entire sum. So, if you only use Rs.40 lakh out of Rs.70 lakh, you only pay interest only for Rs.40 lakh. Bajaj Finserv allows you to borrow, repay, and re-withdraw as many times as you wish to, making this loan unique. You can use this Hybrid Flexi Loan to fund educational expenses that vary from year to year with ease.

Easy application and processing:

The simple application process—that can be completed online or offline—allows Bajaj Finserv to disburse the loan amount to your bank account within 72 hours of the document verification. This means that you can count on this source of finance for meeting your educational expenses.

Simple eligibility criteria and minimal document requirements:

Just about anyone can apply for this loan. You must meet two criteria:

  • You must be an Indian resident
  • You must be a salaried employee

Since the loan is given against a property that you own, you only have to submit a few basic documents such as:

  • Copy of papers of the property that is to be mortgaged
  • Filled application form
  • Address proof
  • Salary slips of the past 3 months
  • Bank statements of the past 3 months
  • PAN card/ Aadhar card

Online loan management:

Apart from applying for the loan, Bajaj Finserv also allows you to see and track your loan details online. Using your customer ID and password, you can check interest statements, balance due and other such details at your convenience. Bajaj Finserv gives you digital access to this information so that you can get a quick overview of your loan’s details whenever you want.

Pre-approved offers:

If you’re an existing Bajaj Finserv customer, you have more reason to celebrate. You can make use of the Loan Against Property for Education on a pre-approved basis. This means that you don’t have to go through the entire application procedure from scratch as your basic details are already in Bajaj Finserv’s records.

The high loan amount, combined with low interest rate and no hidden charges makes make Bajaj Finserv’s Loan Against Property for Education the best in the market.

What do I need to apply for a Loan Against Property for Education?

What do I need to apply for a Loan Against Property for Education?

If you have decided to use a loan against property for education to finance your education costs, this guide will tell you all you need to know on how to apply.

A loan against property for education offers a sum that you can use for your child’s education. This secured loan offers funds up to 75% of the value of a property that you mortgage. It has a lower interest rate as compared to other loans and has a longer repayment period too. This makes your EMIs more affordable and thus makes the loan a convenient source of finance. Here’s what you need to do to apply for a loan against property for education.

Meet the eligibility requirements
Before zeroing in on a loan, see if you’re a good fit for it. Matching the loan’s eligibility criteria is the first step in the application process. To avail this loan, you must be an Indian resident, at least 25 years of age, with a regular source of income. If you check all these boxes, you can move on to the next step. If not, you run the risk of receiving a higher rate of interest or your application being rejected.

Submit the necessary documents
Once you establish your eligibility, you must submit pertinent documents. This step requires you to submit important documents like the application form, PAN card, Aadhar card, and address proof. To prove that you can repay the loan, you also have to submit salary slips of the past 3 months and bank statements pertaining to the same period. Lastly, you have to submit a copy of papers of the property that you are pledging.  

Make a checklist of all these documents and organise them. This will ensure that you are prepared. Your application will be processed faster and won’t come back to you because of missing documents.

Ensure that your property matches the value of the loan
Owning a property is a requisite when you want to take this loan, but its value must match the value of the loan as well. For example, if you are borrowing a loan of worth Rs.1 crore and the property that you are submitting as collateral is worth Rs.2 crore, you’re in the clear. This is because the loan allows you take up to 75% of the value of your property as a loan. So, your property must be of a marginally higher value.

Follow the application process
This loan gives you the option to apply in two ways. One method is offline application and the other is online. Both the procedures are relatively simple and take no time to complete. The online procedure only requires you to fill and submit the application form and documents, after which, a representative will verify your documents and approve the loan. The amount will then be credited directly into your bank account. The offline procedure involves sending an SMS to the lender. A representative will then get in touch with you and take the process forward.

If you’re choosing the online procedure, take care to fill details like your name, address and telephone number in the application form correctly. Filling incorrect details, intentionally or unintentionally, is likely to cause problems later on.

Follow this checklist and maximise your chances of receiving a loan against property for education. If you are looking for loan providers, don’t forget to check Bajaj Finserv. Their Loan Against Property for Education offers a tenor of up to 20 years, Hybrid Flexi Loan feature, pre-approved offers and more.

5 things you should know before applying for a Loan Against Property for Education

5 things you should know before applying for a Loan Against Property for Education

A loan against property for education can be an effective and affordable way to finance your child’s education. To make the most of this loan offering, keep factors like eligibility, tenor, and interest in mind.

Financing your child’s education at prestigious universities in India and abroad is easier when you take a loan against property customised for education. Not only does this loan offering give you a considerable amount, up to 75% of the property value, but also gives you flexibility when it comes to using and repaying funds. Before you apply for it, keeping the following things in mind can help you make the most of it.

5 things to know when applying for a loan against property for education:

  1. Interest rates and other charges involved

Since a loan against property is a secured loan, it offers funds at nominal interest. Still, it is wise to shop around and find a lender who offers it to you at the lowest interest. You can use an EMI calculator to apply different rates of interest to your chosen loan amount and tenor for easy calculation. Another factor to keep in mind is fixed and floating interest. If you plan to take this loan for a longer tenor, your fixed interest may be a better option. Keep this in mind and read the terms and conditions carefully. Apart from the interest, there are other charges associated with every loan, which holds true for a loan against property too. Check to see what the processing fees, penal interest, EMI bounce charges, foreclosure charges and part-prepayment charges are.

  1. Eligibility criteria that you need to match

Meeting the eligibility criteria for your chosen loan against property is the key to getting your loan application approved. Usually, you need to be an Indian resident, at least 25 years old, and salaried to be qualified for the loan. However, lenders will also check your income and job stability, your property, your existing obligations, and your credit history before sanctioning the loan. So, ensure that your credit score is high and your pay check has seen a steady rise to better your chances.

  1. The type of property you can mortgage

As a loan against property is mortgaged against your property, you should also check your lender’s criteria when it comes to property. Usually this loan is sanctioned against both commercial and residential property. However, it is a good idea to check if your lender has other specifications. For example, some lenders may not accept vacant lots or agricultural land to be put up as collateral, while others may need your property to be insured before accepting it as security.

  1. Loan amount available vs. your educational needs

Usually a loan against property gives you funds worth 75% of the total value of the property you put up. So, ensure that you calculate how much you require for your child’s education and then carefully plan how much you want to apply for. Let’s assume that the education expenses exceed what you have borrowed. In such cases, you can easily avail a top up loan. As long as the value of your loans do not exceed 75% of the value of your property, you can borrow additional funds to finance your child’s future. In case you are unable to predict the exact amount you need, since cost of tuition and housing can vary each year, you can also opt for a Flexi Loan Facility. This gives you a loan limit, which you can withdraw from as many times as you like. The advantage here is that you have access to maximum funds while you pay interest only on what you actually use. Ensure that your lender has these provisions in place.

  1. Application formalities and disbursal time

Keep in mind that since a loan against property is a secure loan, your lender may take some time to evaluate the property that you are putting up as security. So, it is best to plan in advance and ensure that you have enough time between the loan application and the tuition fee deadline. You can also choose a lender who is known to disburse these loans faster and more effectively. Another way to help hasten the process is by getting all the documents needed for the application ready beforehand. These may include the KYC documents, your IT returns, bank account statements and the copy of your property papers. This will help your lender with the verification process. Bajaj Finserv has a hassle-free loan disbursal process that takes only 72 hours to complete.

  1. Choosing the right tenor and evaluating the risk

Last but not the least, be aware that choosing the right tenor can greatly impact your repayment. A shorter tenor leads to higher EMI but attracts lowest interest. A longer tenor may reduce your EMIs, but means that you end up paying more as interest. So, understand these dynamics carefully and make a smart decision. Ensure that you are financially capable of repaying the loan and have other sources of income and investments to make timely EMI payments.

5 top US universities for undergraduate studies

5 top US universities for undergraduate studies

If you have always dreamt of being a college student in the US, it’s time to aim for these top-notch universities.

A quick glance at any list of the world’s top colleges is enough for you to know that when it comes to world-class higher studies, few countries compare to the United States of America. Home to the world’s oldest and most prestigious educational institutions, USA is the top choice for students with a keen ambition to succeed and thrive in the global environment. The diversity of people and cultures, the country’s growth rate, and its high quality of life together makes for a well-rounded experience for academic and personal growth.

 Whether your passion lies in the liberal arts or the sciences, if pursuing an education in America is on your bucket list, here are the colleges worth aiming for.

Princeton University, New Jersey

Among the oldest academic and research institutes in the country, Ivy League Princeton University’s alumni list boasts the likes of President John F Kennedy, mathematician John Nash, and Amazon founder Jeff Bezos. It was also among the first colleges in America to favour scholarships and grants instead of need-based loans. Princeton follows a highly selective admissions process and international students make up only a quarter of the total number of students, which makes getting in rather competitive. Courses at the undergraduate level are quite rigorous, with every student required to submit an independent research project.

Acceptance rate: 6.5%

Annual cost: $47,500

Harvard University, Massachusetts

A fixture in every list of the world’s top 10 colleges for over a decade, Harvard is the oldest educational institute of USA. Its undergraduate courses are among the most varied—3,900—and students have the freedom of crafting their own specialisation after the first year. Personal academic goals are taken very seriously, with each student given an individualised study plan best suited to his/her goal and ability. If you are interested in interdisciplinary studies, Harvard is your best bet—here you can study subjects as diverse as medicine and music. Even though it is among the most expensive schools in the world, it is also the most liberal when it comes to financial aid. Notable alumni include President and First Lady Barak and Michelle Obama, Facebook founder Mark Zuckerberg, and Ratan Tata.

Acceptance rate: 5.4%

Annual cost: $63,025

Yale University, Connecticut

America’s second-oldest Ivy League school lays a strong focus on liberal arts. Its theatre and music programmes are the most reputed in the country. It’s no surprise then that some of Hollywood’s most famous actors including Meryl Streep, Paul Newman, Edward Norton, and Jodie Foster were students at Yale. The school offers over 40 majors at the undergraduate level, categorised into the four areas of science, writing, arts, and international studies. Special seminars are conducted where students are divided into small groups and made to interact with the college’s most eminent faculty members, while its directed studies gives students access to the world’s most influential texts, regardless of their major.

Acceptance rate: 6.3%

Annual tuition: $49,480

Stanford University, California

If you are an avid technology enthusiast who dreams of working with the best companies of the world or starting your own tech start-up, Stanford University is the place for you. Elon Musk, Sundar Pichai, Evan Spiegel, Mukesh Ambani, and Azim Premji are just a few of its notable alumni. Its computer science and engineering programmes are top-notch, but to maintain a good teacher-student ratio (1:4), the undergraduate enrolment every year is quite limited. Located near California’s Silicon Valley, Stanford’s campus is also counted among the world’s most beautiful.

Acceptance rate: 4.8%

Annual tuition: $48,987

Massachusetts Institute of Technology (MIT), Massachusetts

The country’s powerhouse of technology and innovation, MIT’s most famous alumni include astronaut Buzz Aldrin, former UN Secretary General Kofi Annan, physicist Richard Feynman, and India’s former RBI Governor Raghuram Rajan. The college boasts a strong entrepreneurial culture and, like Harvard, encourages students to design their own course of study. Its Undergraduate Research Program admits over 60% students every year, giving them access to the best facilities and faculty guidance. MIT offers 53 major and 58 minor programmes at the undergraduate level and encourages interdisciplinary collaboration through its Experimental Study Group initiative and Media Arts and Sciences Freshman Program.

Acceptance rate: 7%

Annual tuition: $48,452

Financing Your Undergraduate Studies in USA

Pursuing an undergraduate course in one of America’s top universities can cost you anywhere between $45,000 and $70,000. Add to that your daily living expenses and you will see that studying in USA can be quite expensive. While most of these universities offer scholarships and grants to American students, such options for international students can be rather limited. If you are in need of financial assistance, it is best to check the university’s scholarship programme before you apply. There are also several private institutions that grant scholarships to international students, though these are largely merit- or quote-based and can get quite competitive. A loan against property for education can be a convenient way to fund your child’s education. Unlike unsecured loans, the interest rate for such a loan is much less. You can avail an amount of up to 75% of the property’s value, which can cover not just your tuition fee but also living expenses.

How to manage your finances better while living abroad

How to manage your finances better while living abroad

Make the most of your education abroad with these financial tips and tricks.

Studying in a foreign land—away from the comfort and familiarity of your home, family, friends, and country—can be both rewarding as well as humbling. Apart from the bright prospects that await you once you get your degree, it offers a new learning every step of the way. While exposing you to a brand-new geography and way of life, it also makes you come across fellow students from different parts of the world, who bring with them their own unique cultures and views, helping you shape a more evolved and tolerant world view of your own.

As exciting as it sounds, studying abroad comes with a fairly heavy price tag. But with meticulous planning and mindful spending, you can keep financial woes at bay and focus on making your time abroad as enriching as possible. Moreover, this is also a good time to learn some money management skills.

Here’s how you can manage your finances better while studying overseas.

Get familiar with the foreign currency

Understanding the currency you will now be using, and knowing its exchange rate, is the first step towards sound financial planning. A common mistake students make is to compare prices abroad to prices in their own country. A better way to plan your budget is to first understand the general standard in the new town and convert everything in your head, until you get used to the new currency. For instance, if you pay $10 for a hotdog in the US, it may give you the impression that you’re only spending 10 bucks, which doesn’t seem like a lot. However, those $10 actually amount to more than Rs.600!

Cash or card?

Before you go abroad, make sure you know what kind of money is commonly used there. Some countries prefer the use of actual currency bills, like Japan, while at countries like USA and UK, you can easily get by with plastic money. If you are planning to purchase a forex card, check with your bank if they have any tie-ups with banks in the country you will be residing in. This will help you save on withdrawal or ATM fees.

Make a budget

Because of the high conversion rate of the Indian rupee (in terms of US dollars, euros, and pounds), the cost of living for an Indian student in a foreign country tends to be quite high. However, the pressures of this high cost can be easily alleviated. Before the start of every month, make a list of what you need and what you want, always prioritising the former over the latter. Then start putting aside money for your fixed and basic expenses like rent, bills, food, transportation, books and study material, and so on. If you find that you are on a tight budget, start putting aside some money as savings every month. That way, in a few months’ time, you will have enough money saved to allow yourself some indulgence. Always make sure you have some cash in your contingency fund.

Arrange before you arrive

Tuition cost aside, a clear evaluation of your living expenses before you set out to live abroad is going to make the finances of your stay a whole lot manageable. Once you get there, you may realise that the cost of living is higher than you expected, or you might have to take up an expensive accommodation or it may turn out that your college doesn’t permit students to take up jobs. Be prepared for these circumstances by making sure that the money you are taking with you is more than your projected requirements. A good way to stay on top of your living expenses is to take a loan with a low interest rate and long tenor, so that you don’t have to worry about repaying it as soon as you graduate. For instance, a loan against property for education comes with a tenor of up to 20 years and also has flexible payment options.

Sharing is saving

While some colleges offer on-campus accommodation for students, these are often limited. In case you are required to rent your own place, sharing accommodation with a few other people can help you cut down your costs to a great extent. Apart from rent, you will also be sharing bills, food money and—if your roommates go to the same college as you—conveyance cost. An added advantage is that your household chores can also be equally divided among the roommates, so you don’t get too daunted by doing laundry, washing the dishes, or keeping tab of bills.

Scout for discount

In your free time, scan the market and the internet or, even better, befriend a local who can guide you to stores giving you the best deals. For instance, in big cities, supermarkets usually have discounts on grocery and household items. A good way to save on basics is to do your monthly shopping at one of these stores in bulk. This because often the larger quantity you buy, the more you end up saving. For items like furniture and appliances, check out second-hand stores or websites that have listings for sale of used items (like Craigslist in America). For recreation, look for movie theatres, sports clubs, and music venues that offer student discounts. Most good colleges often host events such as music, food or theatre festivals, sports tournaments, movie screenings, and ice-breaker sessions for students. Frequenting these will take care of your leisure needs but also save you a lot of money, and you may even make some good friends in the process.

Explore additional income options

When studying abroad, it is common for students to take up part-time jobs in order to make some extra money. If you are open to this idea, first look for job opportunities within your university. Working on campus in the library, the administration, or as a research assistant will make sure your work hours don’t clash with your classes. Another option is to look for freelance projects pertaining to your field of interest, such as writing or editing, designing or translating. When looking for work, make sure you keep an open mind. Remember, no job is too small.

Finally, try not to stress too much about finances, and this is where good planning will play a big role. Studying abroad is as much about experiences and adventures as it is about academics. Spending wisely and saving money will ensure that you have enough to go out, meet people, try new things, take up a hobby or just explore a new country.

Top Universities in USA to Study Data Science & Engineering

Top Universities in USA to Study Data Science & Engineering

The demand for skilled professionals in the field of data management and analytics is on the rise. If you think you have the aptitude for data sciences, it’s time to give your ambition that extra push by enrolling at these American universities.

According to Linkedin’s projection of the hottest skills for last year, data and cloud computing is right at the top in countries like Germany, France, India and Ireland, closely followed by statistical analysis and data mining. With Big Data becoming bigger than ever, permeating every field of work, this projection is no surprise. More and more science and engineering students are opting for careers as data scientists, data analysts, information engineers, statisticians, and programmers.

With increase in competition however, educational qualifications tend to play a large role. In fact, the world’s biggest users of Big Data are known to hire strictly from the best of colleges, that too students with prior work experience. If you have a knack for data management or aspire to play a major role in the way data is consumed and understood, a master’s degree from one of these reputed American universities will surely bolster your career trajectory.

Stanford University, California

A frontrunner when it comes to science and technology, Stanford’s close proximity to the Silicon Valley makes it quite attractive to students who wish to pursue a career in computers and applied sciences. The university’s Department of Statistics, in collaboration with the Institute for Computational and Mathematical Engineering (ICME), offers a Master’s of Science in Statistics: Data Science. The course aims to inculcate mathematical, computational, statistical, and programming skills among its students and widen their understanding of Big Data and its application in science and engineering.

University of California, San Diego

The university’s Jacobs School of Engineering offers a data science and engineering programme at the master’s level, where aspiring engineers are trained in software programming, database management, and statistics. The programme comprises 10 courses spanning programming, analysis, applications management and visualisation. For early- or mid-level data scientists looking to broaden their understanding and career prospects, this programme is ideal as it also connects you to engineering experts from all over the country.

Carnegie Mellon University (CMU), Pennsylvania

CMU is among the best universities in the country for pursuing computer science and research. It offers a master’s in computational data science that equips students to excel in the next generation of big data system deployments, analyse large amounts of data, and present it in a readable and understandable manner. The advantage of taking up this course is that you will have ample opportunities to collaborate with some of the biggest names in the country for your research and industrial projects. CMU encourages its students to take up internships and the campus is frequently scouted for new talent by Google and Amazon. A strong base in computer science, whether through education or work experience, is expected of applicants.

Northwestern University, Illinois

If learning on the job is what you’re looking for, the Northwestern University’s McCormick School of Engineering offers a comprehensive MS in analytics that is a balanced mix of work experience and classroom teaching. The programme combines mathematical and statistical studies with advanced information technology and data management, focusing on data mining, optimisation, and interpretation. A three-month internship and an eight-month industry project are compulsory for all students. The university also offers a part-time online MS in predictive analysis.

New York University (NYU), New York City

If you are looking for a time-flexible course in data sciences, NYU’s Center for Data Science offers an MS course that you can complete full-time over two years or part-time over five years. NYU was the first university in the world to offer a master’s degree in data science. The course is largely interdisciplinary, spanning the departments of statistics, bio-statistics, AI, economics, psychology, and business, which also gives you immense research opportunities. You can also opt for Big Data science, data and mathematics, and data and physics as electives.

Financing Your Master’s Degree

Data science is an expensive course, largely because of the technical costs of experiential learning, use of expensive software required for dealing with complex data. Depending upon the college, city, and course duration, it can cost you anything between Rs.25 lakh to Rs.57 lakh for tuition alone. Colleges like NYU offer partial scholarships, while those like CMU offer no financial assistance. Added to this, there is also housing and living expenses that you need to plan for. A loan against property for education is among the most viable options for financing your education. With low interest rates and a tenor that stretches up to 20 years, you will have enough time to repay your loan. You can avail up to 75% of the value of the property, which could be sufficient to support your tuition and living expenses.

Loan Against Property for Education: Explained

Loan Against Property for Education: Explained

If you’re in need of funds for education expenses, why not use a property that you own and get finance against it? A loan against property serves as an excellent way to get the money you need.

Financing higher education, especially an overseas degree requires careful planning and consideration. A part of this planning involves understanding how you will fund the various expenses. Whether it is covering basics such as housing and tuition, or gathering funds for other living and additional expenses such as purchasing a laptop or specific software, you must ensure that lack of finance don’t come in the way of you or your child’s education. Turn to a loan against property for education to finance this need. Use a property that you own as collateral and get a substantial loan against it. 

Take a look at the features and benefits that make a loan against property for education a winner:

Ample loan amount

It gives you access up to 75% of your property value that translates into a substantial sum, so you can cover all the expenses related to education. Taking one loan will help you meet all education costs so you don’t have to rely on multiple loans or sources of finances.

Low rate of interest

Compared to other loans of a similar amount, the loan against property for education gives you the sum at a lower rate of interest. Bajaj Finserv is an excellent loan provider if you’re considering taking a Loan Against Property for Education. It is affordable and offers excellent flexibility that makes repayment easier.

Flexible tenor

To match the high loan amount, this loan comes with a long tenor for repayment. You can pick a tenor as short as 2 years or as long as 20, depending on your financial status and goals. If your focus is to clear the loan quickly, pick a short tenor. On the other hand, if affordability takes precedence, benefit from a longer repayment period.

Convenient Flexi Loan feature

This loan comes with a Flexi Term-Loan option. Using it means that you can withdraw funds as and when the need arises over the course of the tenor. You can borrow, repay, and re-withdraw funds as many times as you wish to. With a long tenor of up to 20 years, this loan gives you the chance to make the most of the loan. The Flexi Interest-only Loan facility only charges interest on funds as and when you use them. You can pay interest-only EMIs, and have the option to repay the principal at the end of the tenor.

High top-up amount

You can also avail a high top-up amount on your existing loan. This helps you benefit from the existing loan’s long tenor and get access to funds quickly and affordably. Say you have only applied for a loan that totals 50% of your property value, you easily take a top-up for the remaining 25% as and when you feel the need.

Preapproved offers

If you’re an existing customer with your lender, you can benefit from pre-approved offers. Instead of going through the entire application process again, enjoy the loan on a pre-approved basis, with minimal documentation and quicker processing. You may also be offered a top-up loan on a pre-approved basis.

Quick processing

Simple eligibility criteria and minimal documentation requirements ensure that your loan is processed and disbursed quickly. In fact, the sum is disbursed to your account within 72 hours, once the lender verifies your documents.


Eligibility criteria and documents required

To be eligible for this loan, you must be an Indian resident and a salaried employee. Then, submit the following documents:

  • Salary slips of the past 3 months
  • Bank statements of the past 3 months
  • PAN card/ Aadhar card
  • Copy of papers of the property that is to be mortgaged
  • Address proof
  • Filled application form

You can apply for a Loan Against Property for Education online through a simple online process.

Whether you want to apply for a loan against property for education or want to transfer an existing loan against property, choosing this loan from Bajaj Finserv’s umbrella of options makes for an excellent choice. It offers all the aforementioned features with the added benefit of excellent credibility, no hidden charges, and great customer service.

Documents needed when applying for a course in Germany

Documents needed when applying for a course in Germany

The first step towards getting admitted to a college in Germany is to send in a complete application. Follow our simple guide to make sure you don’t miss out on anything important before you apply.

With a growing population of young people hailing from diverse backgrounds, Germany has emerged as one of the most popular study destinations in the world. It houses many world-class educational institutions that offer a wide variety of undergraduate, graduate, and doctoral courses.

Cities like Berlin, Munich, Bonn, and Stuttgart offer a good mix of top-quality education, cultural exposure, and avenues for leisure. This makes them attractive to aspiring international students.

To get admitted to your dream college in Germany, it is necessary to acquaint yourself with its admission procedure. While each college has its unique criteria for accepting students, they all require you to submit a mandatory set of documents along with your college application.

Here is a checklist of everything you need to increase your chances of getting enrolled in a German college of your choice.

Application form

The easiest way to apply to German universities is through the centralised admission portal for international students called uni-assist. However, most universities nowadays also accept their own applications. You can downloaded these from their official websites.

Most forms come with a checklist of everything you need to send along with your application. Use this checklist to contact institutions that will issue these supporting documents.

School/university leaving certificates

To apply for a bachelor’s degree, a school leaving certificate is mandatory. If you are applying for a master’s degree, you will also need leaving certificates from each of the colleges you have attended. Some universities or courses also require you to submit copies of transcripts and mark sheets. Make sure that the copies are clearly printed and duly signed or stamped by the issuing authorities.

Language certificates

All international students need to submit a proof of efficiency in the language of instruction of the course they are applying for. For courses that are partially or fully taught in German, you can appear for TestDAF or DSH. Most universities require you to have at least a B1-level certification in German. For courses taught in English, you need to submit IELTS or TOEFL scores. This is applicable even if the medium of instruction at your school or college was English.

Letter of motivation

Your letter of motivation has the potential to make you stand out amid the sea of applications. Remember that the essay is not supposed to be a snapshot of your academic achievements. It should be a clear, concise, passionate, and creative account of why you chose a college or institute. Also include what interests you about the course, as well as that specific university. It is a good idea to talk about your unique qualities, relevant life experiences, and interesting projects or volunteer work that you may have pursued.

Letters of recommendation

To find out how well you will fit in with their educational and cultural environment, colleges will ask you to submit at least two recommendation letters. Ask your teacher or employer to write these, depending upon the course requirements. Make sure you pick those who know you enough to give you a well-rounded recommendation. For instance, a teacher who has taught you for many years or a reporting manager who you have worked with .

Proof of funds

Every college wants to ascertain that their students have enough funds to meet the tuition fee requirements. In fact, when applying for a student visa, it is mandatory to declare funds amounting to 8,800 EUR per year to prove that you will be able to afford the cost of studying in Germany.

You can submit these proofs in the form of your income statements or those of your parents. In case you do not have sufficient funds, you can apply for scholarships that will fund your tuition fee in part or full.

Another way to meet the cost of not only education, but also the cost of living in Germany is to opt for a loan against property for education. This loan offers ample funds up to 75% of your property to fund your education and offers flexible repayment options at a nominal interest.

Other documents

You German college of choice may also need other documents based on the course you are applying for. These include your CV, GMAT/GRE test scores, and medical certificates. Make sure you thoroughly understand these requirements before you proceed with your application.

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