Education and Career Forum

Hello,
I wish to take a Bank Education Loan for doing MS in Finance in UK which is costing Rs. 9 Lacs approx. This is a one year course and I can manage the course fee but I can't bear the living expenses. I have insurances in many banks and private institutions. Also I have some shares of approx Rs. 2 Lacs. I am working in an MNC from the last 4 years. These are the only above documents I can show as my asset. How much amount of Education Loan is easier for me to secure without any collateral in any Bank? If I wish to take upto Rs. 5 Lacs without any guarantor?

You can take education loan up to 20 lakhs for study in abroad. You have good number of assets and can opt for education loan against them . There is no need of any mortgage of collateral security for education loan up to 7.5 lakhs. However, for loan above 7.5 lakhs, you need to mortgage your assets. Since you want to opt for education loan of 5 lakhs, so you can readily opt for it without any mortgage. Third party guarantor is a mandatory clause for education loan of 5 lakhs. If you do not want any third party guarantor, then you can take education loan only up to 4.5 lakhs.