Education and Career Forum

hey
i am economically poor if i get a seat in iim
how can i pay fee without having any
property to show banks to take loan???
please clear my doubts

If you get seat in IIM, most of the banks will come forward to offer you loan. This is because IIMs are the best places from where students are recruited for high profile and high salaried jobs. There is a huge prospect of jobs in IIMs, hence banks sanction loan for IIM students easily with very few norms. But you need to show property in order to take loan if you take a loan of more than 7.5 lakhs. Since you do not have property to show you can keep a third party's property as mortgage who will also be a guarantor if you take loan of more than 7.5 lakhs. However, if you take loan less than 7.5 lakhs, then there is no need to show property or keep any property as mortgage to the bank.