Education and Career Forum

Which Banks provide Education Loan upto Rs. 7.5 Lakhs without collateral security ? I am a state Govt Employee having an account in SBI Karimganj Branch, Assam but the State Bank of India refuse to pay Education loan to my son more than Rs. 4.0 Lakh without security. I have no property like land or building. My son is studying B.Tech Marine Engineering (2nd Semester) in MANET, Pune.

I am extremely sorry to state that there is no bank which will offer education loan of 7.5 lakhs without collateral security. Loan upto 4 lakhs is possible without collateral security. State Bank of India will not give loan above 4 lakhs without any mortgage. Other banks, however, will provide loan upto 7.5 lakhs without any mortgage. But you need a third party guarantee as a collateral security for the loan.

I am extremely sorry to state that there is no bank which will offer education loan of 7.5 lakhs without collateral security. Loan upto 4 lakhs is possible without collateral security. State Bank of India will not give loan above 4 lakhs without any mortgage. Other banks, however, will provide loan upto 7.5 lakhs without any mortgage. But you need a third party guarantee as a collateral security for the loan.