Education and Career Forum

Hello, I want to study BTech and for this I need to apply an education loan. My friend has an account in Bank of Maharashtra but I don’t. However we both want to apply an education loan in this bank. So, for me, Bank of Maharashtra will provide an education loan? Or is it necessary to have an account in this Bank for applying an education loan?

It is not it necessary to have an account in Bank of Maharashtra to apply for an Education Loan. If you have an account in Bank of Maharashtra, it will be easier for you to avail loan application approved. Just make sure you should be an Indian national and have a secured admission to BTech course in India or Abroad through entrance test or merit based selection process after completion of HSC or 10+2.

Having a bank account in the concerned bank is not a criteria to apply for education loan and even if it is necessary then you can open it quickly by providing the KYC documents. It's not a big issue and you can apply for education loan without any issues if you have secured admission in a recognised college.

Just make sure you have a guarantor and all the required documents when you are applying for education loan at the bank.

No, it is not necessary to have an account in Bank of Maharashtra to apply for an education loan for pursuing B.Tech course. If you apply for an education loan and if it gets approved, the bank will automatically open an education loan account for you. You should have secured admission to higher education course in a recognised college/ university to be eligible to apply for an education loan in Bank of Maharashtra.