Education and Career Forum

Hello everyone,
I want to get Education Loan for
doing MBBS in India. I have heard
it cost Rs. 15 Lacs here.
But my father is working in Abroad.
So what I have to do for applying Education Loan?

You need to have a residential certificate to apply for education loan in India. Since you need education loan of 15 lakhs, so you also need to show property like land, vehicle, house, etc. to keep it as mortgage to the bank. Since your father is working abroad, so there are some extra formalities and terms and conditions to which you need to comply. This is because you will be governed by international law rather than Indian law. So if you have guardian in India, it will be easier to get your loan request sanctioned. Otherwise, it will be quite tough to get the loan sanctioned. You need to approach any bank close to your residence and have a discussion with the branch manager concerning the education loan. Then if the bank allows to apply for education loan, you need to act as per the instructions of the concerned branch manager.

Originally Posted by Unregistered

Hello everyone,
I want to get Education Loan for
doing MBBS in India. I have heard
it cost Rs. 15 Lacs here.
But my father is working in Abroad.
So what I have to do for applying Education Loan?

Yes you can take loan for your higher education...Taking loan is quite difficult for you as your dad stays in abroad ...Usually bank gives loan but before giving loan but it has so much of terms and conditions ,rules which you have to fulfill.your case is something more difficult , where you may need to give more information you have to follow their guidelines , terms and conditions upto their mark..

First of all i would like to tell you that you can easily sectioned the educational loan after following some specified criteria. As your father is staying in abroad so you need a residential proof. For applying the educational loan of about 15 Lacs you must have to fulfill below mentioned conditions:::>>>

** First of all you must have to attempt the ALL INDIA ENTRANCE EXAM.

** One more thing is that you must have passed your secondary education from a recognized school with minimum passing percentage.

** You may have to put your land or other source as a security.

** Also you need two or three person that take your guarantee .