Paperwork needed to apply for an education loan in India

This is written for incoming Indian students of Queen's MBA program.

I thought of posting the details for paperwork needed to apply for an education loan in India.

Before looking at the list, you may want to take note of following couple of points:

1. Until and unless you get the loan sanction letter, you can't apply for Visa.(assuming you don't have other sources of fund)

2. It takes 1.5 to 2 months of relentless followup and a lot of paperwork to get a loan from a nationalized bank.

I want to portray the right picture based on my own experience so that the reader can plan accordingly.

Pre-work:
Before you visit a bank, try to get get a solid contact inside the bank. Else it is unlikely that you will get any attention. If you/your guarantor have an existing account with the bank, that may help.

After getting rejected by around 5-6 banks, I reflected and created a 1 page bio that helped me to sell my case. You can think of creating one with the following content:
1.About You
  - your academic achievements
  - your career development
  - schols etc if any
2. About Queen’s and how you got admission to it.

    - gmat, toefl, essays, reco, interview- 

    - Prospect after doing the MBA.
    - Total expenses. 

    - How much of loan is needed.
3. Your financial stature(Savings, PF, Stocks, MF, Property etc. etc)

     - What can be mortgaged. 
4. Your guarantor's/co-signer’s financial stature.(Savings, PF, Stocks, MF, Property etc. etc)

     - What can be mortgaged. 

5. If you have pre-paid any loan in the past.(Proof of a strong credit history)

This will help to accelerate the conversation with the loan officer.

Documents needed as stated by SBI loan officer:
From you
1. Photocopies of:
a. PAN, Passport
b. Address proof.
c. Two year's Form 16+ITR
d. 6 Months Bank Statement
e. Property papers (the property to be given as security)
- Sales Deed
- Allotment letter
- Possession letter
f. Admission letter
g. Academic certificates since class 10.
h. Details for scholarship obtained.
i. GMAT and TOEFL reports
j. Details for Fee structure

2. Two photographs
3. Cheques:[May obviously vary from bank to bank]
a. Property valuation- 1700/-
b. Lawyer- 1000/-
c. Sanction fee- 5000/-

From your co-signer
1.ID Proof, Photographs
2.Address proof
3.Income proof(PPO)
4.Bank statement 6 months
5.ITR/F16 copy- 2 years
6.Asset proof- Property, FD, Shares, etc. etc.

Requirements may vary from bank to bank. Also, some banks want attested copy which, to me, is like pouring salt in an injury.

It is a painful process but will be done eventually. Good luck!