Education and Career Forum

Dear friends, I want to apply for an Education Loan from Central Bank of India for doing MBA course. Kindly tell me what are the verification does this Bank will do for an education loan for my MBA course? Please help me out about the verification? Thank you!

The candidate should be an Indian national in order to apply for the Central Bank of India education loan.
The candidate should have secured admission to a higher education course in recognise institutions in India abroad 3 entrance test.
The bank will ask you for certain documents in order to verify your identity such as identity documents, admission letter, marksheets etc.

http://centralbankofindia.co.in

Before granting any loan, banks do check the financial capability of student and their guardian.
Before sanctioning a huge loan amount , banks do check
Copy of admission letter of institute along with fees schedule
Passbook of last 6 months
Marksheets etc
They also take into take if there is any default in bank payment made by the student.
Candidate must have secured admission I a recognised institution on the basis of merit.
These above are the things that are being considered by bank before granting loan.

Verification process depends on the loan amount. The higher the amount, the complexity of verification process increases.

Following verification are done by the bank:-

Authenticity of the documents submitting concerning college and fees structure.

Authenticity of income tax and house tax profs.

A person from bank will come to your residence for checking the property as well as the location.

All signatured documents submitted for education loan.

Discussion conducted internally by a certain group of bank employees to take the final decision for sanction of the loan or rejection of the loan request.

Verification process depends on the loan amount.
Following verification are done by the bank:-

1 - Authenticity of the documents submitted concerning college and fee structure.

2 - Authenticity of income tax and house tax proofs.

3 - A person from bank will come to your residence for checking the property as well as residential location.

4 - All signatured documents submitted for education loan.

5 - Discussion conducted internally by a certain group of banke employees to take the final decision for sanction of the loan.