Education and Career Forum

Hi friends, I want to apply an education loan in Allahabad Bank. I want to study MBBS by taking an education loan. Can I know that if I want to take an education loan against my family property then I am eligible to do that? Kindly let me know immediately.

Eligibility to take an Education Loan against family property in Allahabad Bank*is given below.

You must be in the age bracket of 16 to 35 year and must be an Indian Nationals.

You must have secured admission into an Indian or foreign university through an entrance exam or merit based selection procedure i.e. the admission is purely based on marks scored in the qualifying examination.

You must have completed senior secondary education (up till the 10+2 level) and satisfies a minimum cut off of 50% marks.

For education loan, you will need a guarantor or co-applicant. Your family member can be the one and provide all the collateral security, if needed.

Hence, property can surely be used as collateral, if the owner becomes your guarantor or co-applicant.