Education and Career Forum

Hello, my daughter wants to apply for an education loan for doing BArch course. I have a salaried account in Kotak Mahindra Bank. I have a credit card and my bill is going to Rs. 1.5 Lacs this month. In this case, this Kotak Mahindra Bank will give loan to me for my daughter’s BArch course?

If you been paying all your credit card bills on time, then you definitely have a good chance of getting an education loan for your daughter. Just make sure she gets admission at a recognised institute or university before approaching any bank branch.

You need to become a guarantor for her education loan and you must have a regular flow of income. Also, you shouldn't be under any kind of debt to have more chances of success.

Yes definitely they can sanction the education loan to your daughter. Initially they will take the CIBIL REPORt of yours and Guarantor and Applicant as your daughter. From CIBIL, they will come to know what are the liabilities you have with any other banks including KMB.

Based on CIBIL score they will inform you the required documents to be submitted. Some important documents need to be submitted are given as follows.

>> Marks sheet of Previous Academic year

>> Entrance Exam result (India/Abroad)

>> Kyc documents of Applicant ,Coapplicant and guarantor.

>> Income certificate of yours being a co applicant.