Education and Career Forum

I am interested to apply an education loan in Yes 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?

For loans upto INR 4 lacs , no collateral security is required.

For loans above 7.5 lacs , both collateral security and third party gurantee is required.

Guarantor can be any person to whom you can trust.
Must have a good source of income.

You can also get an education loan without pledging any security.
The CGFEL scheme provides a guarantee for education loan disbursed by bank.
But usually most of the banks need a guarantor and surety of funds and assets for sanctioning of loan.