Education and Career Forum

Hello Sir, My Name is Anjali Agarwal and I am studying my Graduation from Pune and would like to pursue my MBA from Mumbai. I would like to apply for an Education Loan for that purpose. My Dad is expired a couple of years back and my Mom is a housewife. I have an elder brother who is the earning member of our family. So can I keep him as my Guarantor for applying my Education Loan.

Yes, your elder brother can be a Guarantor to apply for your Education loan. Anyone who takes care of the Guardian can become a Guarantor. The Guarantor must be a working employee with at least 20000 to 30000 rupees salary per month. In addition, he must have salary slips as a proof that he is receiving income. If he does not have salary slips even though he is an earner, he is not eligible to be a Guarantor for your education loan. Since, your elder brother is working and if he has salary slips, he is eligible to be a Guarantor for your Education Loan.

Originally Posted by Unregistered

Hello Sir, My Name is Anjali Agarwal and I am studying my Graduation from Pune and would like to pursue my MBA from Mumbai. I would like to apply for an Education Loan for that purpose. My Dad is expired a couple of years back and my Mom is a housewife. I have an elder brother who is the earning member of our family. So can I keep him as my Guarantor for applying my Education Loan.

Yes, you can make your brother as Guarantor or a co-applicant of the education loan. The co-applicant should be working individual from any government or private sector companies. The co-applicant should have very good employment record. The co-applicant should have good employment record with minimum 2 years in employment and at least 1 year in the current organization. So you can make him as a guarantor, you can contact the bank near your house for more details.