(SBI Education Loans - Draft format of the Power of Attorney to be executed by the borrower

authorizing the Power of Attorney holder to execute the loan documents or to create
equitable mortgage in case of NRI customer)

[To be stamped as a Power of Attorney as per applicable State Stamp Act, within three months
from the date on which it is received in India]
POWER OF ATTORNEY
TO ALL TO WHOM THESE PRESENTS SHALL COME:-
I, ______________________________________________________________________ (Name)
S/O, W/O,D/O, ____________________________________________________ (Name) of
_________________________________ (place), Indian inhabitant residing at
__________________________________________________________________________.
WHEREAS:

A. I, (Name)_____________________________________________son/daughter/wife
of_________________________________________ am desirous of availing education loan jointly with Shri./
Smt.______________________son/daughter/wife of Shri ____________________________from State Bank of
India (Hereafter referred to as “the Bank”).

B. I/We will be proceeding abroad/ are staying continuously at abroad and therefore I/We will be personally
unable to be present and execute loan documents or to create equitable mortgage in favour of SBI as per the
terms of the sanction. As I/We will not be personally present to execute the documents and to do the
necessary acts required by SBI, It has become necessary to appoint a fit and proper person to act as an attorney
to act on my/our behalf to do all necessary acts and things in connection with the aforesaid.

C. I am hence, desirous of appointing my father/ mother/ wife/ husband/ sister/brother/son/daughter/ Father-

in-law/Mother-in-law Shri/ Smt____________________ son of / daughter of / wife of Shri /Smt.
_______________________________ residing at_____________________________ as my constituted
attorney for execution of loan documents stipulated by the Bank.

NOW KNOW BY THESE PRESENTS SHALL WITNESSETH:-

I,_________________________________________________________S/O,W/O,D/O,________
__________________________________ of______________(place), Indian inhabitant residing
at__________________________________________________(complete address)
_____________________________________________________________________ do hereby
irrevocably nominate, constitute and appoint my father/ mother/ wife/ husband/ sister/
brother/ daughter/ Father-in-law/Mother-in-law Shri/ Smt. _________________ aged about
______________ years ,occupation : ………………, R/o. ………………………………, whose photograph is
pasted below as my constituted attorney to do the following acts, deed, matters and things
among others viz:-
(Page-1/2)
1. To execute Loan documents/ agreement(s) for availing Education Loans from State Bank
of India, or any other documents as required by the bank
2. To deposit the title deeds in respect of the property offered as Collateral Security for
securing Eduction loan/s with the Bank for creation of charge.
3. To execute necessary document for creation of any type of mortgage and all other
documents required by the Bank for creation of valid mortgage.
AND I DO HEREBY DECLARE that the said attorney shall have full powers and absolute authority
to act in the matter and property aforesaid as fully and effectually as I would have acted myself.
And I do hereby declare that I will be bound by and responsible for all the actions of Shri/
Smt/Miss (Name of the constituted attorney) ____________________________under this
Power of Attorney.
AND I DO HEREBY, AGREE AND UNDERTAKE to ratify the acts, deeds, matters and things done
by the said attorney(s) under this Power of Attorney.
IN WITNESS, WHEREOF I have subscribed my signature on this Power of Attorney on
the_________(date) of_________________(month)_________(year) at___________(place)
SIGNED AND DELIVERED by the Within named
“Donor/Executant”
___________________________________________________________in the presence of
_________________________________________________________________________
Before me
Identified by me
SIGNED AND DELIVERED by the within named
“Donee” ___________________________________________________ in the presence of
__________________________________________________identified by me.
1. Attested by Notary Public*/Magistrate
(If Power of Attorney (POA) is executed in India )
2. Attested by Indian Embassy/ Consulate/ High Commission
( Where the document is executed in a foreign)
(Please paste passport size photograph of ‘Attorney’,which has to be attested by the Executant)
(Page-2/2)

STANDARD PROCEDURE FOR EXECUTION OF POA

A (A) When Power of Attorney (POA) is executed in India
(i) Power of Attorney Holder should be a resident of India.
ii) Power of attorney on prescribed format is to be executed on a non-judicial
stamp paper of appropriate value as applicable in the state where it is executed
and duly notarized.
(iii) Photograph of the POA holder should be pasted on the POA and it should be
attested by executants/maker of POA.
(iv) A Judicial Magistrate or Notary Public should attest the signature of the POA
executants/makers.
(v) POA executants/maker must affix his/her signatures on every page of the
Power of Attorney.
(B) When Power of Attorney (POA) is executed outside India
(i) Power of Attorney Holder should be a resident of India.
(ii) The power of attorney should be executed on a stamp paper/plain paper and in
a manner as the case may be as applicable to the country in which the power of
attorney is executed.
(iii) Stamp duty should be paid in India within three months of receipt in India but
before the execution of loan document, as applicable in the state where it is to be
submitted.
(iv) Photograph of the POA holder should be pasted on the POA and it should be
attested by executants/maker of POA.
(v) The POA executants/maker should sign the POA in front of official of Indian
Embassy/Consulate/High Commission in that country where the POA
executants/maker resides. The official will also attest the signature of POA
executants/maker.
(vi) POA executants/maker must affix his/her signatures on every page of the
Power of Attorney.
However, in all the cases the confirmation on prescribed format will be obtained directly
from POA executants/maker after execution of the loan documents by POA holder. The
disbursement in the account will be made only after the receipt of confirmation letter
from POA executants/maker