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  #1  
24th October 2015, 06:03 PM
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Is it possible to apply for Education Loan from two banks simultaneously?


Hello sir,

I want to pursue my MS Planning from the US. The total course fee might go upto Rs. 30 Lacs. I have applied for education loan from Union Bank, but they offer upto Rs. 20 Lacs of education loan. So i want to know if i can get rest of the amount from some other bank or not?




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  #2  
25th October 2015, 05:29 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Is it possible to apply for Education Loan from two banks simultaneously?

No, you cannot opt for education loan from other bank if you have already opted from one bank. It is not possible to opt for education loan from two banks simultaneously. This is because as soon as you opt for a loan, your account is made in the database of Reserve Bank of India and every detail of loan is linked to it. So any bank to whom you go for education loan after opting from one bank, will check the linked account and as soon as they find out concerning the education loan already opted they will reject your loan request. Since now Aadhar Number is linked to your account, so finding out such details is easier.
Do you have any question? or have anything to say?



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