Education and Career Forum

Hello,
I went to Bank for an Education Loan and they have given me huge condition and I have to maintain huge formalities. And my elder brother has taken a personal loan from the same Bank which he was getting within 15 days. How this can be possible? Why they have huge formalities to maintain for an Education Loan?

The main aim of educational loan is to provide financial assistance for all eligible and meritorious candidates who are economically backward and wish to purse higher education.

As the candidate has to submit a large number of documents to avail educational loan. For personal loan one has to show the salary account, address and Id proof and Security.

For educational loan one has to submit college admission letter, ID and address proof, bank statement, collateral security, Fee prospectus etc..,

The respective bank will verify whether the candidate has secured admission in recognized college to purse recognized course and the academic certificates and nationality.