4th December 2015, 11:35 PM
Posts: n/a

Who is Third Party Guarantor in Bank Education Loan scheme?

Dear Sir,
I am studying final year final semester in BBA. After my undergraduate course I will move to my Master degree i.e.; MBA. But this time, I will take an education loan from any bank. I have searched about the terms and conditions of education loans by many Banks but canít understand about the third party guarantor. I would like to know about third party guarantor.

Related Questions:
  1. Whether a 3rd Party Guarantor must be an Account Holder of Bank for taking Education Loan? Is documents necessary to show by the Guarantor? A retired person can be a Guarantor?
  2. What is the role of a Guarantor to apply for Bank Education Loan? -- [Most Discussed]
  3. Whether Bank pressurize guarantor for repayment of Education Loan?
  4. Guarantor is eligible to get Education Loan for studying MBBS?
  5. Being a Bank Ex-Officer my father can become a guarantor against Education Loan?
  6. Whether a retired person is eligible to become a Guarantor for Education Loan of upto Rs. 7.75 Lacs? Is it necessary to submit any document for a Guarantor?
  7. Is it possible to show Brother-in-Law's IT file as a guarantor instead of father to apply for Bank Education Loan?
  8. Can I become guarantor against Bank Education Loan to study Abroad for both of my daughters?
  9. Whether my father can become Guarantor for Education Loan if my brother is studying MBA through Education Loan?
  10. Eligibility to get Education Loan against property without a guarantor? -- [New]
  11. Education Loan scheme of Allahabad Bank to study MS in Germany?
  12. Is Guarantor necessary to apply for Bank Education Loan of Rs. 3.5 Lacs to study Master's in Hospitality Management for 32 years old candidate?
  13. Education Loan scheme of Bank of Baroda to study B.Tech course?
  14. Can I apply for Education Loan to study MBA without any Guarantor being an Orphan?
  15. Education Loan to study in a Business School without a guarantor?
  16. Is it possible to present my Brother-In-Law as a Guarantor to apply for Education Loan due to my father's death?
  17. Bank Education Loan scheme of SBI, Bank of India and Bank of Baroda to study MBBS course of Rs. 350000 p.a. fee expense?
  18. Son of a government employee can get exemption in Education Loan?
2nd January 2016, 07:04 PM
Senior Member+++++
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Who is Third Party Guarantor in Bank Education Loan scheme?

Third party guarantor is the person who is not your parent/guardian and have to guarantee the repayment of education loan when asked by bank or when the concerned loanee gets a job (whichever is earlier). The third party guarantor has to also provide various documents like his/her income tax certificate, house rent certificate, etc. and sign the loan documents along with the coborrower and the loanee. Third party guarantor is usually mandatory for education loans more than 4.5 lakhs.
Do you have any question? or have anything to say?

Related Topics:

Thread Replies Last Post
How should I apply for CBSE scholarship after scoring 83.4%? Is it true that I wont be able to apply for any other scholarship after applying for the CBSE scholarship? 29 10th September 2017 11:00 PM

Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
vBulletin Optimisation by vB Optimise.
Please also check: