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  #1  
7th October 2015, 03:30 PM
Unregistered
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Is it necessary to have a Bank Account to apply for an Education Loan?


Sir,
My brother want to study B.Tech in Aeronautical Engineering in Abroad. I want to apply for Education Loan for his education. But he don't have any Bank Account. Is it necessary having a Bank Account?




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  #2  
8th October 2015, 11:08 PM
SudeepKumarSaha
Senior Member+++++
  
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?

There is no compulsion that one should have a prior bank account in order to apply for education loan. There is no such eligibility criteria for education loan. Once the loan request is approved, the bank will ask to open an account and with the speed of internet world, now an account can be opened in one day. So there is nothing to worry. Once the education loan request is approved the bank will open the bank in the name of the person opting for loan and you need to provide all the requisite documents to the bank for opening a loan account.
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