22nd July 2015, 02:08 PM
Posts: n/a

Is it necessary to have a Bank Account to apply for an Education Loan?

Dear Sir/Madam,
I don't have a Bank Account but my father has in State Bank of India. I want to study B.Tech and I would like to know that for getting Education Loan I must have a Bank Account? Is it necessary?

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23rd July 2015, 09:35 PM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Is it necessary to have a Bank Account to apply for an Education Loan?

No, it is not necessary to have a prior bank account in order to avail education loan. You can apply for education loan even if you do not have an account. However, once you have discussion with the branch manager and start the completion of the requisite formalities, the bank will ask you to open account with your name. At that time, you must open the account.
Do you have any question? or have anything to say?

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