Education and Career Forum

Hello Friends,
My Father is an employee of Hindustan Petroleum Corporation Limited. He earns Rs. 1,35,000 per annum. I am interested to study MBBS course. I came to know that almost Rs. 8 Lacs is the fee for MBBS in India. So, can I get Education Loan of this amount?

Yes, you can definitely get education loan of 8 lakhs in order to pursue MBBS course. There will not be much problem in getting education loan sanctioned since your father can be the co-borrower of the loan who has a stable income source. However, since the education loan is above 7.5 lakhs per annum, so you need to mortgage any property like land, house, vehicle, etc. Apart from this, you need to comply with other terms and conditions of education loan like security margin, third party guarantor, etc. and complete all the requisite formalities to get your education loan sanctioned.

Yes, you will be able to get an educational lone ,now days it is very easy to get educational lone but you will have to keep something on mortgage as the amount is a little high
You must also fulfill the requirements that your bank instructs you to
There will also be some criteria that you will jave to follow