Education and Career Forum

Sir,
I am a B.E. 1st semester student.
My family is not in the condition to
pay for my studies further.
So,now I can apply for Education Loan?
Can Bank gives me Education Loan?
Please help me and guide me.

Originally Posted by Unregistered

Sir,
I am a B.E. 1st semester student.
My family is not in the condition to
pay for my studies further.
So,now I can apply for Education Loan?
Can Bank gives me Education Loan?
Please help me and guide me.

Yes, definitely you can apply for education loan. There are certain criteria set by all most all the banks that the college from which you are pursing B.E should be recognized i.e. should be approved from UGC or AICTE or any government body.

You must be able to provide all the documents which are listed below at the time of documentation. Bank provides loan for Indian studies at maximum of Rs 10 lacs. If you are taking loan less than 4 lacs then no margin, if its above 4 lacs then margin will be 5%(Punjab National Bank case).

Up to 4 lacs, No security required, parent or guardian can be made joint borrower. List of documents below

• Passport size photograph
• Loan application on Bank's format.
• Proof of Address.
• Proof of Age.
• Copy of PAN of student Borrower*.
• Proof of having cleared last qualifying examination.
• Letter of admission including your course fees, admission fees and other expenses.
• Details of Assets & Liabilities of parents/co-obligants/guarantors.
• In case loan is to be collaterally secured by mortgage of IP, copy of Title Deed, Valuation Certificate and Non-encumbrance Certificate from approved Lawyer.

Hello Dear,
Ya, Of-cos you are able to get loan for your B.E 1st year study . And there are lot of banks which are giving loan. You have to do some formalities for passing loan.Go to the bank branch and just take a loan form submit the required documents. And you are able to get loan by the bank at the time of paying to the college. And also there are not so much education loan interest also for the students. And you also have to pay it after your graduation .

Best of luck...