Education and Career Forum

Can i take 10 lakh loan for doing B.tech in Automobile Engineering from private college?

Yes, you can take an education loan of 10 lakhs for doing B.Tech in Automobile Engineering from private college. However, there will be many terms and conditions of the bank for getting your loan request sanctioned. You need to keep mortgage of some property such as house, land or vehicle to the bank for getting your education loan sanctioned along with third party guarantor and security margin deposit. For details you need to talk to the concerned branch manager of the concerned bank from where you want to take education loan. You need to get admission in an institute having good exposure facilities and recognition from competent authorities.

All nationalized banks provide educational loans for all eligible and meritorious candidate's to pursue higher education. Generally, the banks provide a maximum educational loan amount is Rs.7.5 lacs for studies in India and Rs.15 lacs for studies in abroad. As graduation from automobile engineering is a valid and recognized course you can apply for educational loan. If your college is recognized by the government of India then you can apply for the loan.