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#1
12th February 2018, 02:30 AM
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Is it possible to change the guarantor for educational loan once it is sanctioned?
Hi, this is gurjot. I have an education loan sanctioned last month of 7 lakhs from union bank of India whose guarantor is my uncle. Now I want my father to be the guarantor of the same loan. Can I do that? Given circumstances that I have not disbursed any amount from the loan yet. Also what my father will require being eligible to be the guarantor?
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#2
19th February 2018, 08:24 PM
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Re: Is it possible to change the guarantor for educational loan once it is sanctioned?
You need to contact with the bank and ask them about the procedure. They will cancel your application and initiate a new one, with father as your guarantor.
It will depend on your father's income and his property, which will decide the fate of your education loan now. If your father has income like your uncle, then there shouldn't be any problem. |
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