An affidavit for an education loan is a legal document that states the borrower's commitment to repay the loan amount to the lender as per the agreed terms and conditions. This document is typically required by lending institutions when a student applies for an education loan to finance their studies.
An affidavit for an education loan is a legally binding document, which means that the borrower is legally bound to fulfill the obligations and responsibilities stated in the document. Typically, an affidavit contains information about the borrower's personal details, such as name, age, address, and contact information. It also includes the details of the loan, such as the loan amount, interest rate, repayment period, and any other terms and conditions that the borrower must adhere to.
An affidavit for education loan is signed by the borrower in the presence of a notary public or a magistrate, who certifies the document. This ensures that the document is legally valid and can be used as evidence in case of any disputes or legal issues.
I, (1) Mr./Ms. ___________________________________________ Son/Daughter of ___________________________________(Father's Name/ Mother’s Name), aged about ____________years
(2)________________________________________________ (Father’s Name/ Mother’s Name), aged about _________years, Son/Daughter of ____________________________________, both residing at ________________________________________________ (Address) in ____(State) do hereby affirm and declare as follows:
1. We, the above-mentioned deponents, are permanent residents of the above-mentioned address.
2. I, the first deponent, have been selected for admission and/or have joined ____________________________ Course in the College/Institute ____________________ from the session ____________________.
3. We, both the deponents, confirm that we have not obtained any education loan from any bank or financial institution for the aforementioned course.
4. We, both the deponents, confirm that we have not defaulted on any loan granted to us individually or jointly.
5. I, the second deponent, declare that I will indemnify_________ (Bank’s Name) in the event of any loss caused by granting any loan to the first deponent, who is my natural-born ward.
6. This affidavit is required to be presented before the ________(Branch of the Bank)________(Bank’s Name) in (Name of the state) for the approval of a study loan in the names of both the first and second deponents.
7. We, the deponents, state that the first deponent is not receiving any scholarship or fellowship from the institution or any other source to undertake this course.
8. The aforementioned facts are true to the best of our knowledge and belief.
Identified by me 1. _______________________ Son/Daughter(Student)
2. _______________________ Father/Mother
SWORN BEFORE ME
NOTARY PUBLIC, (NAME OF THE STATE)