#1  
25th August 2015, 05:45 PM
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Education Loan scheme for a candidate whose father's Income is Rs. 3.46 Lacs per annum?


Sir,
My son want to study B.Tech course. I want to know about Education Loan scheme as we belongs to General category and my Income is Rs. 3.46 Lacs per annum. Please tell me about the Bank Education Loan scheme. Thank you!





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  #2  
28th August 2015, 02:34 AM
aashisranjan784
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Join Date: Sep 2012
Posts: 8,021
Default Re: Education Loan scheme for a candidate whose father's Income is Rs. 3.46 Lacs per annum?

Yes, with annual income of Rs 3.46 rupees per month, you are eligible for the Education loan for bachelor of technology course from any bank of India. Upto four lacs of rupees, you can get loan from any bank of India without collateral or mortgage. If the overall fee structure of your son for whole course is more than four lacs then you need to submit a collateral.

What you need to submit to bank for Education loan:

>>Loan letter issued by the institute having fee structure and details.

>>AICTE approval letter of college.

>>Income certificate of parents.

>>Marksheet upto 10+2.

>>Result of competitive exam.

Recently the government of India launched a portal for education loan where you can put your details to know how much loan you can get from different banks and the eligibility criteria and documentation required for the loan. Click here for Education loan portal of India .
  #3  
28th August 2015, 09:06 AM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Education Loan scheme for a candidate whose father's Income is Rs. 3.46 Lacs per annum?

Education loan can definitely be opted to meet the expense of the B.Tech course of your son. There is no problem concerning your income for opting education loan. You need to approach any bank close to your residence along with your son after he gets admission call from any recognized engineering institute. You need to take the prospectus of the concerned college. Have a discussion with the concerned bank's branch manager, get to know the details of education loan, the terms and conditions and the norms which you both need to follow. Act as per the instructions of the concerned authority to get the loan sanctioned. You can take education loan up to 10 lakhs (with mortgage) for study in India.
  #4  
31st August 2015, 11:33 PM
ArunavaBasu
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Join Date: Mar 2015
Posts: 2,155
Default Re: Education Loan scheme for a candidate whose father's Income is Rs. 3.46 Lacs per annum?

Your son is eligible for a Bank Educational Loan.
You need to apply for the Loan to a Bank of your choice.
You must provide the Letter of Admission that will be provided to you by your University as a Document for the Bank for your Educational Loan.
You must also provide the Income Tax return that is filed by you in the last financial year.
Once you do this your Loan will be sanctioned by the Bank where you are applying for the Loan.
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