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  #1  
23rd March 2016, 12:35 AM
Unregistered
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Is it difficult to get an Education Loan with bad CIBIL record?


Hello Everyone,
I have settled my credit card few months ago. I would like to apply for an Education Loan for my daughter. I would like to know that as I have a bad CIBIL record then is it difficult for me to get an Education Loan?




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  #2  
26th March 2016, 11:54 AM
ArunavaBasu
Senior Member++++
  
Join Date: Mar 2015
Posts: 2,155
Default Re: Is it difficult to get an Education Loan with bad CIBIL record?

It depends on the Loan amount and your IT Return for the previous year.
If you are taking a loan of less than Rs 4 Lacs then it does not matter as you will be sanctioned the Loan once the documents regarding your Loan is verified by the Bank where you apply for the Educational Loan.
You CIBIL Record will not matter at all if the Bank deems that you are capable of repaying the Loan after verifying the your IT Return of the last Financial Year.
Do you have any question? or have anything to say?



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