Education and Career Forum

Friends, I want to study MBA in India. My father got retired from his service. But he got pension. So, can I liable to get education loans from bank? Will bank provide me the education loan?

Originally Posted by Unregistered

Friends, I want to study MBA in India. My father got retired from his service. But he got pension. So, can I liable to get education loans from bank? Will bank provide me the education loan?

Yes, you can get an education loan to study MBA being a child of retired serviceman. Usually, education loans are offered to students on the basis of their academic background, type of course and university, etc. You have to provide necessary collateral security or third party guarantee based on the education loan amount to get an education loan. You have to contact any bank branch near your house and follow the instructions given by the bank manager for getting an education loan. You have to provide necessary documents for getting an education loan. You can get up to Rs 10 Lakhs to study MBA in India.

Dear if you want to borrow loan for education from any bank working in India then you must know about the standards demanded by various private and nationalised banks which are following :

If you want to apply for education loan in a nationalised bank which is the enterprise of Indian Govt. then you should have following eligibility :

You want to pursue MBA then you should have completed your bachelor's degree from a recognised university with at least 50% marks.

The university in which you are going to get admission for MBA should be a recognised university by UGC or NCERT.

You have to show future prospects and job or other business opportunities after your MBA means how will you repay the loan you are borrowing that is whether job or business or any other profession after MBA.

You will have to provide original fee receipt of every single semester/ year you will pay in the university then bank will issue DD - Demand Draft or Directly transfer the fee amount to the account of the university if your loan is approved.

Your father is retired but you do not have to worry because the bank will look at your future chances and about your previous and current study standards that you can repay the loan or not.

If you want to apply for education loan in private bank then submit your original schooling and degree certificates with other identity proof and course details then they will provide you loan.

Thanks and Regards