Education and Career Forum

Hello,
Am I eligible to get Bank Education Loan as I have a Savings Bank Account in State Bank of India from the last 7 years? I want to study in Abroad so what conditions are there to get an Education Loan?

There is no eligibility criteria for education loan concerning the tenure of the account which one has to hold in the concerned bank. Even a one day prior account will fetch a person loan as well as older accounts of many years. You need to comply with the terms and conditions of the education loan as laid down by the concerned bank in which you are applying. These depend on the loan amount which you are seeking. For example, for loan above 7.5 (4.5 for SBI) lakhs, bank will ask mortgage, for loan above 4.5 lakhs, bank will ask for third party guarantor, etc. Apart from this, you should have an admission call from a recognized and reputed institute which provides good exposure facilities and should complete all the formalities as per bank's orders.