This is a reference format, not legal advice. Exact wording, stamp paper requirement, and whether a co-applicant must also sign vary by bank. Always confirm current requirements with your specific lender before relying on this format.
When You Need This
Most banks and NBFCs ask for an affidavit-cum-undertaking before disbursing an education loan, especially for loans above a certain amount or when applying under a government interest subsidy scheme - it declares that the loan will be used only for education and that you commit to repaying it.
Have a break in your academic record before this course? Some banks separately ask for a Gap Year Affidavit alongside this one.
Enter Your Details
Answer a few quick questions and we'll generate a properly worded affidavit below - typed straight into the document, no leftover "[bank name]"-style placeholders when you print.
Click anywhere in the document above to fine-tune the wording before printing - the verification/notary date and place are left blank on purpose, since those are only decided when you're at the notary's office.
Confirm with your bank whether this needs to be on stamp paper/notarized, or accepted as a plain declaration.
Check if your bank also needs your parent/guardian (co-applicant) to sign a declaration.
Sign it, and submit along with your loan application documents.
Frequently Asked Questions
Most banks and NBFCs ask for an affidavit-cum-undertaking before disbursing an education loan, especially for loans above a certain amount or when applying under a government interest subsidy scheme (like the Central Sector Interest Subsidy or PM-Vidyalaxmi) - it declares that the loan will be used only for education and that you commit to repaying it.
Only if there's a break in your academic record before this course - some banks ask for a separate gap year affidavit explaining the gap, alongside this loan affidavit. See our Gap Year Affidavit format if that applies to you.
Most education loans require a parent or guardian as co-applicant/co-borrower, who typically signs a separate declaration or the same affidavit jointly, depending on your bank's process. Check with your specific lender.
This varies by state and by bank - commonly Rs. 10-100 non-judicial stamp paper is used. Some banks accept a plain self-declaration instead. Confirm with your specific bank before executing this.