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#1
29th January 2017, 03:28 PM
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Can a minor apply for an education loan at SBI worth rupees 10 lakh if have two lands in Greater Noida, Uttar Pradesh?
Hello sir, I have no parents except care taker and I am a minor. I have two lands in Greater Noida, Uttar Pradesh. Please tell me can I apply for an education loan at SBI worth 10 lakh?
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#2
31st January 2017, 07:53 AM
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Re: Can a minor apply for an education loan at SBI worth rupees 10 lakh if have two lands in Greater Noida, Uttar Pradesh?
Yes, a minor can apply for education loan for higher studies. However, there has to be a co-borrower along with you who should not be a minor. Even though you have lands and can take education loan by mortgaging them, still the bank will require a co-borrower and a third party guarantor for your education loan. It is one of the mandatory clause of education loan scheme and you need to abide by it.
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