Education and Career Forum

Hello,
I am having NRI Account in HSBC Bank. I would like to take an Education Loan for my daughter who want to study MBBS in US. Please guide me how to get it.

• Check your eligibility: The first step is to check if you are eligible for an education loan. The eligibility criteria vary from bank to bank, but you will typically need to meet the following criteria:
  
  • You must be a citizen of India.
  • You must have been admitted to a recognized university in the US.
  • You must have a good academic record.
  • You must be able to provide collateral, such as a property or a guarantor.
• Choose a bank: Once you have checked your eligibility, you need to choose a bank that offers education loans. HSBC Bank is one of the banks that offers education loans to NRIs.
• Apply for the loan: Once you have chosen a bank, you need to apply for the loan. The application process will vary from bank to bank, but you will typically need to provide the following documents:
  
  • Your application form.
  • Your 12th standard mark sheet.
  • Your income certificate.
  • A letter from your school principal.
  • A property document, if you have one.
• Get the loan approved: Once you have submitted your application, the bank will review your application and decide whether to approve the loan. If the loan is approved, you will be required to sign the loan agreement and the loan will be disbursed to the university.
• Repay the loan: Once you have completed your studies, you will need to start repaying the loan. The repayment period will vary depending on the terms of the loan agreement.