Education and Career Forum

Hello sir, I am BE IT engineer and have 7 years working experience in good company. Now, I want to study MBA course in distance mode from any foreign university. Please tell me am I eligible to apply for an education loan in security of my PF account?

Yes, you can definitely apply for education loan in order to pursue your MBA course. You can get the loan against security of of account since it is a government bond. However, you will need collateral security only if you take loan above 7.5 lakhs. It depends on the amount in your PF account as to what amount you can get as Education loan. Apart from this , you will also need to comply with the terms and conditions of the education loan and complete all formalities as per instructions from the bank to get your loan sanctioned.