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  #1  
10th September 2015, 01:27 PM
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Whether my sister become Guarantor to apply for an Education Loan if my father died?


Hello Sir,
My Name is Sapna Kokney and I am completing my Graduation from Pune and I would like to pursue my MBA from Mumbai. I would like to apply for an Educational Loan for that purpose. My Dad had expired a couple of years back and my Mom is a housewife. I have an elder sister who is the earning member of our family. So can I keep her as my guarantor for applying my education loan. Awaiting your reply.




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  #2  
18th September 2015, 08:23 PM
palugulavenumadhav
Senior Member+++++
  
Join Date: Dec 2014
Location: Hyderabad
Posts: 3,103
Default Re: Whether my sister become Guarantor to apply for an Education Loan if my father died?

Yes, one can keep the guarantor as sister for availing educational loan.

For below Rs.4 lacs there is no need of collateral security to avail educational loan.

For above Rs. 4 lacs one must keep collateral security which is equal to 100% of the loan amount or third person guarantee who is known to the bank.

The third person guarantor must be the customer of the bank. The third person may be the guardian/ parent/ sister/ uncle etc..,
Do you have any question? or have anything to say?



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