Education and Career Forum

Sir,
I need an Education Loan of Rs. 14 Lacs for doing BS(Engineering) in UK. I don't have any property and my father also don't have IT File but I need an Education Loan for this course. Please help me.

To get an Education Loan of Rs. 14 lacs to get study BS (Engineering) in UK, you must have to submit Collateral security documents related to land or buildings to bank. It is mandatory to submit Income Proof such as latest 6 months salary slips or Income Tax returns, in addition you also need to submit Collateral Security to bank to get an Education loan. If you don't have any property and IT files, you can't get an Education loan from any bank.

I am extremely sorry to state that you cannot avail education loan from any financial organization in India if the co-borrower does not have a IT file. Pan card is compulsory for you and IT file along with Pan card for the co-borrower. However, if you can have someone else who has IT file , then you can opt for education loan with him/her as the co-borrower and no involvement of your father. The co-borrower must have a stable source of income. In that scenario, you need to approach the concerned bank from where you want to seek education loan and have a discussion with the branch manager. Furnish all requisite bank documents and act as per bank's instructions to get your loan sanctioned.