Education and Career Forum

Hi Sir, my father has an income of Rs. 4 Lacs per annum. I am an MBA aspirant. I have studied my BBA(H) and achieved many scholarships. But the amount wasn’t fulfill the the semester fee. I have always got half of the semester fee amount through scholarships. But I don’t want to depends on scholarships during my MBA course. I want to take an education loan. So, with this family income, I can apply for education loan?

Yes, you can apply for an Education loan to study MBA with Rs. 4 Lakh family income.

List of banks providing Education loan are as follows:-
State Bank of India
ICICI Bank
IDBI Bank
HDFC Bank
Axis Bank
Canara Bank
Union Bank
United Bank
Central Bank
Dena Bank
UCO Bank
Bank of Baroda
Indian Overseas Bank
Punjab National Bank
Avanse Financial Services
Credila

Yes you can apply for Education Loan with 4 lakh overall family income. As there is a interest subsidy scheme available for candidates whose family income is beLow 4.5 lakh.

For those there is a subsidy on interest during moratorium period.

So you can apply for Education loan in MBA course.

But before that you must submit the admission letter from the college where you got the admission for MBA.

That college should be in top 100 ranking with in india.

There is one More requirement for Education loan is you must produce income certificate to avail inter subsidy edication Loan.

And also upto 4 lakh there is no.marigin and no collateral security.

But if the loan amountis more tha. 4 lakh then you need to arrange a guarantor which is third party nt from your family.

Parents will be considered as coapplicant.