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  #1  
1st March 2016, 12:56 PM
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Possibility to apply for an Education Loan from 2 different banks for Abroad studies?


Hello Everyone,
I want to go Abroad for further studies. The total cost of my course is upto Rs. 20 Lacs. I want to know that can I apply for an education loan partly from different banks? It means that can I apply for Rs. 8 Lacs from one Bank and remaining Rs. 12 Lacs from another Bank? Is it possible?




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  #2  
8th April 2016, 08:15 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Possibility to apply for an Education Loan from 2 different banks for Abroad studies?

No, it is not possible to apply for education loan from two banks in this manner. You can apply for education loan from one bank at a time. This is because when you opt for education loan, an account will be opened by your bank in RBI and all details will be stored and bank will also ask for various original docs. So other banks will check this before sanctioning loan. Hence , unless you have a genuine case where you are opting for two different courses, it is not possible to opt for education loan from two banks.
Do you have any question? or have anything to say?



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