Education and Career Forum

I want to apply an Education Loan in State Bank of Travancore. But before this I would like to know that who can become my Co-Obligor to the loan which I will take?

Co-obligor is basically a person who can be concerned as the co-borrower of the education loan which you are seeking. Usually, banks ask the parents/legal guardians to become the co-borrower of the education loan. However, even other relatives like siblings can also become co-obligor of the education loan. One of the most criteria to become a co-obligor is the person should have a stable source of income.

To be eligible to apply for an Education loan from State Bank of Travancore, you should have to secure admission in a recognised college/ university. Your Parent/ Guardian/ Spouse/ Parent-in-law/ Grandparents Co-obligation is required to get an Education loan from State Bank of Travancore. No security is required for loans upto 4 lakh rupees and for loans between 4 to 7.5 lakh rupees, the collateral in the form of third party guarantee is required and for loan amount above 7.5 lakh rupees, the Collateral security in the form of tangible security should be provided to bank for sanction of an education loan.