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  #1  
24th June 2016, 05:43 AM
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Can I get an Education Loan without security deposit to study B.Tech?


Hi Sir,
I belongs to very poor family and has a desire to study B.Tech. My parents couldn't bear the expenses of my course, so I want to get an Education Loan. I don't have anything to deposit as a security for Bank Education Loan. Can I get an Education Loan without security?




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  #2  
26th June 2016, 04:52 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get an Education Loan without security deposit to study B.Tech?

Yes, you can get education loan without any security deposit. There is no problem with the poor background as education loan scheme was formulated basically for financially unstable students. You can get education loan up to 7.5 lakhs in order to study B.Tech course. However, you cannot get education loan above 7.5 lakhs since for loan above 7.5 lakhs you need to mortgage property as security to the bank. You should also try for scholarships to have financial aid apart from the education loan.
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« What kind of tangible assets can be kept as a security under Education Loan scheme of Oriental Bank of Commerce? | Drawbacks of Bank Education Loan for B.Tech aspirant? »

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