Education and Career Forum

Hello, I just want to prepare for IAS exams. So, I want to apply for an Education Loan because the fee of VajiRam and Ravi is above Rs. 1 Lacs. So, is there any bank in Delhi who can provide me an Education Loan or VajiRam itself help me to get an Education Loan?

Banks don't sanction loan for coaching purposes. You can only get education loan for pursuing any UGC or AICTE recognized degree.

For coaching classes you have to bear all the expenses on your own because there is no guarantee of success in such pursuits. If you are doing a professional course then you will be eligible for a job after completion which will help in repaying the loan which is not the case in coaching classes.

Educational loan is provided to only those students who are pursuing any professional degree course such as Engineering, Management, Hotel Management etc. You are interested to prepare for IAS exam and want to take the educational loan for paying the coaching fee.

>>No, you can not apply for educational loan. Also, the coaching institute can't help you to get an education loan. There is not any bank in Delhi which provide educational loan for this purpose. The main reason is that educational loan is not provided for preparing the competition exams.

>>If you want to take the loan, then there is an alternate option. You can take personal loan. For this you want a guarantor and security deposit too. The other thing is that personal loan has greater rate of interest than educational loan

There is no other branch except Delhi. Kindly get in here, Delhi, contact with you all financial needs with Vajiram and Ravi.

Originally Posted by Unregistered

Hello, I just want to prepare for IAS exams. So, I want to apply for an Education Loan because the fee of VajiRam and Ravi is above Rs. 1 Lacs. So, is there any bank in Delhi who can provide me an Education Loan or VajiRam itself help me to get an Education Loan?

There are some nationalized banks provide loans for the coaching fees for those who are preparing for Civil Services. The eligibility for this loan is student should be an Indian National. The candidate should be below 26 years for the civil services coaching loan. They should have studied graduation with a minimum of 55% marks. The maximum loan amount is Rs 2 Lakhs. The loan is available in Central Bank of India. You can also check with the coaching institute for the availability of loan arrangements. The Central Bank of India website link is Official Website