Education and Career Forum

I am interested to apply an education loan in Syndicate Bank. But I would not be able to provide a guarantor. But my friends told me that guarantor is necessary for applying an education loan. So, I would like to know that I can apply an education loan in this bank without a guarantor?

No, you can't apply for education loan at Syndicate bank without a guarantor. It is compulsory to have someone from your family or relation to support your education loan application because being a student you are not earning.

Banks want a person to secure the loan in case you default they will contact the guarantor to pay the amount. This is for security purpose only.

Yes you can apply for Education loan without guarantor .But you have not mentioned about the course in which you are going to pursue.

In general as per syndicate bank norms you must bring guarantor for Education loans more than 4 lakh upto 7.5 lakh

As per general bank policy ,upto 4 lakh there is no need of any guarantor ,no collateral security and no margin.

But above 4 lakh to 7.5 lakh there is a need of guarantor third party in addition to parents as coapplicant .

In this you need to provide third party guarantor for more than 4 lakh