Education and Career Forum

Dear Sir,
I have a Salary Account in Kotak Mahindra Bank. My current liabilities are as under:
1. I have one running Personal Loan of Rs. 1 Lac.
2. My Kotak Mahindra Platinum Credit card's bill has exceeded to Rs. 1 Lacs. Now if I apply for an Education Loan of amount Rs. 12 Lacs for my child education. In this case I can apply for Education Loan?

You will be able to apply for the Loan but all depends on your Income Slip and the amount you earn per month.
It also depends on where your Son has got admission.
If you also have some property which you can use as a mortgage then you can get the Educational Loan on the basis of the mortgage.
So you are eligible for the loan but a lot of it depends on how you can satisfy the various conditions that the Banks generally set up.
You can get the Educational Loan if you can fulfill the above mentioned conditions.

I don't have any salary slip or IT returns of my parents.My father is expired and my mother is working in a small shop with a salary of 6000 per month.I am eligible to apply for education loan of RS.700000