Education and Career Forum

Sir, I don’t have any 3rd party guarantor in my own relation. I am not able to introduce 3rd party guarantor. But, I have a land property in my own name. So, I am eligible to take loan with my land property for education purpose?

Originally Posted by Unregistered

Sir, I don’t have any 3rd party guarantor in my own relation. I am not able to introduce 3rd party guarantor. But, I have a land property in my own name. So, I am eligible to take loan with my land property for education purpose?

Yes, you can apply for an education loan against land property as collateral security. You have to contact the concerned bank branch and explain the reasons. Most of the banks feel safe and secure when collateral security is offered for the education loans. Actually, for an education loan of up to Rs 4 Lakhs no collateral security is required. In general, education loans are offered to students on the basis of academic strength of students, future employment prospects of the course and securities offered.

Yes, you can take education loan against your land property instead of 3rd party guarantor. Banks have this policy in education loan too. You are eligible to apply for education loan but keep this in mind that you can get education loan only if your admission in confirmed in any recognized university.