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 Kotak Bank but I don’t. However we both want to apply an education loan in this bank. So, for me, Kotak Bank will provide an education loan? Or is it necessary to have an account in this Bank for applying an education loan?

Not having an account in the said bank will not be an issue, if you are looking for an education loan. Having an account can make the process easier, because KYC is already done and they won't ask for any documents related to address and identity.

Hence, even if you don't have an account, you can open it by giving the documents. These days it takes lesser time to open a bank account. Chances of getting an education loan will depend on your credit score and guarantor.

No, it is not necessary to have an account in Kotak Bank to apply for an education loan. If you apply for an education loan in Kotak Bank and if it is sanctioned, then the bank will open an loan account for you. So, you don’t need to have a account in Kotak Bank to apply for an education loan. You should have secured admission to higher education course in a recognised college/ university to be eligible to apply for an education loan in Kotak Bank.