Education and Career Forum

Hello Everyone,
For my further studies, I have to get an amount of Rs.30 Lacs. I am in a position to fund Rs. 8 Lacs myself. Most bank are offering Loans only upto Rs.20 Lacs, but my property is worth Rs. 1.5 crores. Is there any chance for me to get an Education Loan of Rs. 22 Lacs?

Yes, definitely you can get an Education loan of Rs.22 lacs against property worth of Rs.1.5 crores. To get education loan of Rs. 20 lacs for pursuing your higher studies in Abroad, you must have to submit a Collateral security in the form of documents related to land, property, etc.,. If you submit all the required documents asekd by bank, your education loan will be approved within 10-15 working days.

Even if you provide a mortgage of very high amount Banks in general sanction an Educational Loan of up to Rs 20 Lacs this is the rule that is followed in general.
To sanction an Educational Loan of Rs 22 Lacs depends on the Branch Manager from where you are applying for the Educational Loan.
You need to make a request with the Branch Manager and tell in him detail about your problem. If he sanctions your Loan you will get the extra 2 Lacs otherwise your Loan can not be sanctioned.