Can I take an education loan for studying abroad and what documents or salary proof are required for the loan?

Yes, you can take an education loan for studying abroad if you meet the eligibility criteria. You’ll typically need to be an Indian citizen, have admission to a recognized foreign university, and provide a co-applicant (usually a parent or guardian) with a stable income. For loans above ₹7.5 lakh, collateral is usually needed.

Key documents required:

For the student:
- Completed loan application
- Photo ID and proof of residence
- Academic records and admission letter
- Standardized test scores (if applicable)
- Proof of age, scholarship documents (if any), and gap certificate (if needed)

For the co-applicant:
- Photo ID and residence proof
- Income proof:
- Salaried: recent salary slips, Form 16/ITR
- Self-employed: ITRs, business proof, financial statements
- Bank statements (6-8 months)
- Collateral documents (if required)