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  #1  
20th April 2016, 11:42 AM
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Can I get an Education Loan if salary of Co-Applicant is less than Rs. 10000? Should I switch to 3rd party guarantor?


Dear Sir,
It is very urgent for me to know whether I can get an Education Loan or not, if the co-applicant salary is below Rs. 10000. If not, can I go for third party guarantor to avail the same?




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  #2  
23rd April 2016, 02:56 PM
Saikiranreddy47475
Senior Member+++++
  
Join Date: Jul 2013
Posts: 14,288
Default Re: Can I get an Education Loan if salary of Co-Applicant is less than Rs. 10000? Should I switch to 3rd party guarantor?

No, you cannot get an Education loan if salary of Co-Applicant is less than Rs.10000. Most of the banks accept the Co-Applicants only if their salary is more than Rs.20000 per month. You can go for third party guarantor whose income is more than Rs.20000 to avail the education loan. To get an Education laon of more than Rs.7.5 lacs, you must have to submit Collateral Security to bank in the form of House/ Land documents equal to loan amount for sanction of your Education Loan.
  #3  
17th February 2018, 08:55 PM
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Default Re: Can I get an Education Loan if salary of Co-Applicant is less than Rs. 10000? Should I switch to 3rd party guarantor?

Hello Sir, I am an orphan and I want to pursue MBA. For that I need an education loan of 3 lakhs. Being an orphan I don't have any guarantor nor any person whose salary is more than 10000 .. What should I do?
Do you have any question? or have anything to say?



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