Education and Career Forum

Dear Friends,

I have newly opened my Bank account a month ago in State Bank of India. So, can I apply for an Education Loan? I want to secure admission in MBA course. Will they sponsor me an education loan? Who can provide me the information on this now?

Yes, you can definitely apply for education loan. There is no problem if you had opened account one month back. It will not affect the sanctioning of your education loan. You can get education loan even if you open account just before the sanctioning of the loan. There is no time span for account opening in the bank in order to avail education loan. You need to comply with the terms and conditions of the education loan and complete all the necessary norms to avail the education loan.

Yes, you can apply for the education loan even with a fresh account, because at the time of sanction your education loan your loan account is opened separately. You must have to show two guarantor for your loan account. After completing all the formalities of the bank bank will sanction your education loan and gave you a draft of complete fee to the institute bank account address. You can not apply for the cash payment under education loan.

Yes, you can apply for Education loan if you have opened a bank account in State Bank of India one month ago. Even recent account holders are eligible for education loan. You can register yourself by providing your personal details at official website of India's one and only education loan portal.

You can register yourself at http://https://www.vidyalakshmi.co.in/Students/.

Within few days, banks will respond what amount of loan at what rate of interest can be sanctioned to you. Now getting education loan has become much easier with opening of this education loan portal.

Yes, definitely you can apply for the educational loan. Since, you have already opened an account in the State Bank of India. It’s better for you to take the educational loan from the SBI. It will definitely provide you educational loan not only this you have an advantage of lowest interest rate too in comparison to other banks.

Following are the procedures you have to follow for this:

--Visit to nearest branch or branch of SBI in which you have opened the account.

--Fill the form mentioning the tuition fee, hostel fee etc. and submit it with relevant documents such as admission slip, color photo, Xerox copy of previous academic qualification etc.

--After validating from the bank, your loan will be sanctioned within 15 days.

--When you withdraw the amount from the education loan account, interest will be computed from that day.

Yes, of course, you can apply for Education loan even if you have opened a bank account in State Bank of India about a month ago.

Even candidates who do not have bank account are advised first to open an account in concerned branch of Bank from which you wish to take Education Loan. Yes, they will sponsor you for your professional course.

You can register at India's Education Loan portal and through a single form, you can apply to multiple banks for loan. However as you are interested to take loan from State Bank of India, you can select SBI only.

Official link of Loan portal: http://https://www.vidyalakshmi.co.in/Students/