Education and Career Forum

Sir/Madam, I want to do Commercial Pilot Training course. I have searched and came to know that it cost above Rs. 10 Lacs. I have a mortgage property. So, in this situation, bank will give me loan for studying Commercial Pilot Training?

Mortgage property can be pledged against an education loan.
It can be pledged as collateral security for availing the loan amount.
Bank can finance upto 100% of loan if it's upto the limit of 7.5 lacs.

Can I get Bank Education Loan against Mortgage property?

Yes, you can use the loan against property for higher education. This loan is offered to students who are going for higher education in India or overseas.
However, there is a common misconception among aspirants that they cannot pledge a housing loan property as collateral security for a secured education loan.

Can I get Bank Education Loan against Mortgage property?

Yes, co-owned properties are eligible as long as all owners co-apply for the loan against property. What criteria must my property meet for approval? To qualify for a loan against property, your property's title should be free of litigation. There should be no existing mortgage on it.