#1  
30th March 2015, 01:32 PM
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How can I get Bank Education Loan of Rs. 16 Lacs to study MS in UK? Can I repay Loan after getting job? Do I have to Mortgage the property to apply for Bank Education Loan?


Hello Sir,
I am planning to go UK for my MS. Please help me out to sort out the best possible option for the Bank Education Loan available. My total expense will go upto Rs. 16,00,000 maximum. I want to repay the amount after my studies as soon as I get my job within a span of 2 or 3 years. Will I have to Mortgage property and what all details do I need to take care of. Please do the needful. Thanking you!




  #2  
9th April 2015, 12:34 PM
SudeepKumarSaha
Senior Member+++++
 
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How can I get Bank Education Loan of Rs. 16 Lacs to study MS in UK? Can I repay Loan after getting job? Do I have to Mortgage the property to apply for Bank Education Loan?

You can get education loan of 16 lakhs to pursue your MS degree in UK. However, you need to fulfill certain norms of the bank from which you are taking loan. The detailed norms and terms and conditions can be availed by visiting the bank and having a discussion with the branch manager concerning the education loan. Some of the important terms and conditions are given below.

- You need to get admission in recognized, reputed institute which offers good exposure to its students.
- You need to have the confirmation letter of admission and should have valid passport.
- You need to keep mortgage of property like land, vehicle, house,etc.
- You should have a third party guarantor and should be able to pay the security deposit which is usually 20-25% of the loan amount.
- You have to start repaying the loan after six months from completion of the course or on getting job whichever is earlier.
- Your family should have a stable source of income.
- You should perform well in the course for which you are taking education loan.




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