Education and Career Forum

I have work experience in an IT company and now I am looking to do MBA from UK. So, I need education loan of 15 lakh for it. I have good credit score till now but I do not have a co-borrower or any asset. I will be able to take sabbatical leave from my current company. Will I be able to get the education loan on my work merit? Which bank I should approach?

As per my knowledge, you cannot get subsidy in repayment of education loan.

Bank only provide full interest subsidy to minority candidates whose family income is less than 4.5 lakhs.

Banks donot give any facility of subsidy in repayment to education loan holders.

Yes, you can get education loan for pursuing MBA. Various Banks in India are providing education loan to working persons.

Few of them are:-
State Bank of India
Avanse
Bank of Baroda
Oriental Bank of Commerce
IDBI Bank

You can apply for education loan based on your admission, but presence of a guarantor is mostly required for education abroad. Also, you need to have collateral to support a big loan of 15 lakhs.

Just contact the nearest bank for education loan and apply for it. They will review your application and let your know about the process further.