Education and Career Forum

Hello Sir,
My name is Palak Khobragade. I am 12th passed with 75.4% marks in PCM. My father is an ex-Bank Officer and he had an annual income of Rs. 3.96 Lacs. I want to apply for Bank Education Loan now for B.Arch course as I have qualified in NATA. So, my father can become a guarantor?

Yes your father can become a guarantor if the Bank feels according to his IT return that he is competent enough to return the Loan that the Bank will give for your studies.
It is entirely dependent on the Bank and the amount of Loan that you are applying for and the IT Return that you father has filled for the last financial year.
So make sure you visit the Branch of the Bank from where you want to take the Loan as soon as possible and you will be given all the details.

Yes, your father can definitely become a guarantor ( co-borrower) of your education loan to meet the expense of your B.Arch course provided -

- Your father gets pension or
- Your father has property whose value is at par with the education loan ( The property can be land, house, vehicle, insurance, NSCs, fixed Deposits, etc.)