Education and Career Forum

Hello Sir,
I am planning my career in Abroad in UK for doing Post Graduation. Please help me out to sort out the best possible option for the Bank Loan available. My total expense will go upto Rs. 16,00,000 maximum. I want to repay the amount after my studies as soon as I get my job within a span of 2 or 3 years. Will I have to mortgage property and what all details do I need to take care of. Please do the needful.

There is no problem since you can take education loan of 16 lakhs to meet the expense of your post graduation in UK. An education loan up to 20 lakhss can be sanctioned for studies in abroad. So you can definitely get education loan once you complete all the formalities of the concerned bank.

You will need a third party guarantor for the loan, have to keep mortgage of property like land, house,vehicle,etc. and will also require a security deposit of 20-25% of the loan depending on the bank.

You can repay the loan once you get job or after six months completion of your course whichever is earlier. You need to take the prospectus of the concerned institute in which you are seeking admission and your previous academic certificates and then go to any bank close to your residence and have a discussion with the branch manager. You will have to act as per his instructions ,complete all the formalities to get your education loan sanctioned.