#1  
23rd April 2015, 02:24 AM
Unregistered
Guest
 
Posts: n/a

Possibility to change Personal Loan into Education Loan if applied in SBI to study B.Tech?


Hello,
I have applied for a personal loan
from SBI Bank but now I want to change
my loan. I want to take education loan for
my daughter's education. She is getting admission
in B.Tech so I want to get education loan.
Is it possible to change?




  #2  
14th June 2015, 02:59 PM
ArunavaBasu
Senior Member++++
 
Join Date: Mar 2015
Posts: 2,155
Default Re: Possibility to change Personal Loan into Education Loan if applied in SBI to study B.Tech?

Yes it is but you will have to give the letter admission of your daughter.
Since your Loan amount will not increase you will be able to change your Loan type to Educational Loan from Personal Loan.
So you will have to go the Branch from where you have applied for the Personal Loan and the Branch Manager will give you the rest of the details that you will have to fulfill in order to change the Loan to an Educational Loan.
  #3  
15th June 2015, 03:26 PM
Sam James
Senior Member
 
Join Date: Aug 2011
Posts: 246
Default Re: Possibility to change Personal Loan into Education Loan if applied in SBI to study B.Tech?

Quote:
Originally Posted by Unregistered View Post
Hello,
I have applied for a personal loan
from SBI Bank but now I want to change
my loan. I want to take education loan for
my daughter's education. She is getting admission
in B.Tech so I want to get education loan.
Is it possible to change?
Yes it is possible. But care should be taken regarding the interest rate. You need to provide the admission details + Fee quotation from the respective college as well as the authorized signatory document from the head of the institution that your daughter studies there.
Do you have any question? or have anything to say?



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