Education and Career Forum

Hi friends, I want to apply an education loan in Corporation Bank. I want to study Diploma in Engineering course 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 Corporation Bank for Diploma Engineering aspirant:

You should be a citizen of India.

You should have passed you previous examination with at least 60% marks (55% for student belonging to SC/ST category).

You should have secured admission to Diploma Engineering course in recognized institutions in India through Entrance test / Merit based selection process.

Collateral security is a secondary thing and guarantor will be the first thing you will need. If an education loan is of the big amount then only you will need collateral security. Just make sure you have a co-applicant or guarantor first, which is compulsory for education loan.

Collateral security will be asked by the bank if it is required. Any agricultural property will not be considered as collateral.