Education and Career Forum

If my parents not have the income proof then bank give education loan or not?
Plz tell me sir

Proof of income is required for all student loans. However, since the applicant may not be gainfully employed at the time of applying for the loan, the co-applicant (like the parent) must provide proof of income.

In case a candidate cannot provide parents income proof then the alternative option is education loan with collateral , where a candidate pledges an asset as security against the loan amount.In this case the collateral serves as a guarantee for payment.
Yo some extent , it also depends on the loan amount, if the amount exceeds 4 lacs , then a collateral security is required and if loan amount exceeds 7.5 lacs then both collateral security as well as third party guarantee is required.

Yes, you can still get an education loan even if your parents do not have income proof.

You will need to provide other documention to support your application, such as:
Your own income proof
A co-applicant
Collateral.

List of banks that offer education loan without income proof:-
State Bank of India
Punjab National Bank
Bank of Baroda
HDFC Bank
ICICI Bank etc.