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26th August 2015, 01:50 PM
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Should I have to mortgage my property to apply for Bank Education Loan of Rs. 16 Lacs for study PG in UK? Requirements to apply?


Hello Sir,
I am planning my study in Abroad in UK for my PG. Please help me out to sort out the best possible option for the Bank Education Loan available. My total study expense will go upto Rs. 16,00,000 maximum. I want to repay the amount after my studies as soon as I get my job within a span of 2 or 3 years. Will I have to mortgage property for an Education Loan? What all details do I need to take care of? Please do the needful.
Thanking you!
Pradhyumn Sharma





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  #2  
29th October 2017, 02:23 PM
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Default Re: Should I have to mortgage my property to apply for Bank Education Loan of Rs. 16 Lacs for study PG in UK? Requirements to apply?

Quote:
Originally Posted by Unregistered View Post
Hello Sir,
I am planning my study in Abroad in UK for my PG. Please help me out to sort out the best possible option for the Bank Education Loan available. My total study expense will go upto Rs. 16,00,000 maximum. I want to repay the amount after my studies as soon as I get my job within a span of 2 or 3 years. Will I have to mortgage property for an Education Loan? What all details do I need to take care of? Please do the needful.
Thanking you!
Pradhyumn Sharma

Yes, you should mortgage your property to get an education loan of Rs 16 Lakhs for studying PG in United Kingdom. There are various banks in India offers education loans for studies in abroad countries. For a loan of over Rs 7.5 Lakhs, the applicant has to provide Collateral security of suitable value. Following types of Collateral are accepted for education loans: Fixed Deposits, Plots, House, Flat, Apartment, Life Insurance etc. For PG studies in the UK, you have to provide 15% margin money. You can apply online or contact bank branch to get an education loan of Rs 16 Lakhs. You have to apply with necessary documents like letter of admission, academic records, proof of identity, proof of residence, bank statement of last 6 months, brief statement of assets & liabilities, proof of income, fee schedule etc.




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