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  #1  
19th March 2016, 10:52 PM
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Can my brother become a guarantor against an Education Loan if my father is unemployed?


Hello Everyone,
I am pursuing MCA and need an Education Loan for that. But my father is a Physically Disabled person so he is not working. Can my brother act as a guarantor or is there any way I can get an Education Loan?




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  #2  
20th March 2016, 11:11 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can my brother become a guarantor against an Education Loan if my father is unemployed?

Yes, your brother can definitely become the guarantor of your education loan since your father is unemployed. There is no problem in this as long as your brother is willing to do so, has a stable income source and complete all the formalities as a guarantor as per bank's instructions. For education loan above 4.5 lakhs, guarantor is must. Hence if you take education loan less than 4.5 lakhs then there is no need of guarantor. For loan above 4.5 lakhs, your brother can definitely become the guarantor.
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