Education and Career Forum

Hello Sir, Can I get an Education Loan without providing any security for full time MBA course? I have done my B.Com from Vidyasar University through distance education. So, I am liable to get an Education Loan or not?

For MBA admission any distance mode degree is valid for admission but you need to crack exams like CAT/MAT/GMAT for admission in a top college.

Hence, once you secure admission at a premier institution then you will become eligible for education loan provided you fulfill other criteria like guarantor or collateral security according to the size of the loan.

You have completed your B.Com degree from distance education and want to take the educational loan without security for the full time MBA course. Yes definitely you can apply for educational loan.

>>It does not matter whether your have done graduation degree from distance mode or regular mode. The thing is that you have taken admission in full time MBA course. So you are eligible for applying educational loan. You can take the educational loan without any security if your loan amount is less than 7.5 lacs.

Following are the security details for the educational loan:

--Upto Rs.4.00 lacs- No security

--Above Rs.4.00 lacs upto Rs. 7.50 lacs –Satisfactory third party guarantee

--Above Rs. 7.50 lacs: Collateral security equal to 100% of the loan amount.

>>If you still have any doubt regarding the security then you have to visit to the nearest bank branch for more details regarding this.

Originally Posted by Unregistered

Hello Sir, Can I get an Education Loan without providing any security for full time MBA course? I have done my B.Com from Vidyasar University through distance education. So, I am liable to get an Education Loan or not?

The aspirant should get a seat in MBA regular course to get an education loan. There is some eligibility criteria set by the banks for the education loan like the student should be an Indian National. The student should get a seat through an entrance examination by merit. The student should not have outstanding education loan from any other institution. The father/mother should be co-borrower. You can contact the nationlised bank branch near your house for the education loan. There is no margin money for loan up to Rs 4 Lakhs.