Education and Career Forum

What are required for loan and how much i get loan please give me details supposing that my education will cost 10 lacs?

Requirements for education loan :-

- You must get admission in an institute which is recognized by competent authorities like AICTE, UGC, MCI, etc. as per your course.

- Your college should provide good exposure to the students and have goodwill in the market.

- Your college should have good placement record.

- Your academic background should be good and you should maintain a good performance in the course for which you have taken loan.

- You need to fulfill the norms of education loan like providing essential documents, providing securities, intimating the bank if you get any scholarship, etc.

You can get a loan of 10 lakhs if your course fees cost 10 lakhs. However, you need to fulfill the norms in order to get education loan of 10 lakhs. Some of the essential norms for taking education loan are as follows.

- You need to keep mortgage of property like land, house, vehicle, etc.
- Third party guarantor is required for taking a loan of 10 lakhs.
- You need to pay 20% of the loan as a security.