Education and Career Forum

Hello,

I asked for education loan from Credila and Avanse. Both said NO to me for without collateral loan which they provide upto 25 lacs. According to them being farmers there is guarantee of income or there is no fixed income for farmers every year. Also they do not accept agricultural land as collateral too. Does any bank provide education loan for MS on agricultural land? Or is there any other way of getting loan for MS on agricultural land as being farmers that is the only thing we have? Please help. Thanks in advance !

Yes, public and private sector banks especially the nationalized banks will accept your study loan request against agricultural land as collateral security. However, directly agricultural land will not be taken as collateral security. Instead, you need to sign the agreement that if you are unable to repay the loan, then the land will be treated as commercial land giving bank the full discretion to perform any activity concerning it. Once you accept this clause, banks will provide you loan. The list of banks is attached for your reference.

Normally, banks accept any kind of land as collateral, provided it has some value. If the value of land is good enough, then it will definitely serve the purpose.

The problem will be when the value if land if not good enough to support an education loan of big size. You can try at any PSU bank which is situated near your residence.

Can I get education loan for bams course with agricultural land