9th June 2014, 05:57 PM
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Can I get education loan to study MBBS which requires 4 lakhs per annum?

I have passed hsc with 78.33% and seeking admission for mbbs course but it requires 4 laks per year.can i get education loan?how can i get it?

10th June 2014, 03:35 PM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get education loan to study MBBS which requires 4 lakhs per annum?

Yes, you can definitely get education loan for pursuing MBBS course. Since you have good academic background so there will not be much problem in getting the loan sanctioned. However, the maximum loam amount can range upto 10 lakhs only. Beyond that bank will not provide loan.

For loan upto 4.5 lakhs - no security or third party guaranty needed.
For loan 4.5-7.5 lakhs - 15% security and third party guaranty is needed.
For loan beyond 7.5 lakhs - Mortgage of property is required.

For getting loan you need to do the following.
-You need to approach the nearby bank preferably where you or your parents have an account.
- Talk to the branch manager regarding the education loan. If it is a large branch then talk to the administrative officer.
- Discuss all the norms of education loan, the amount you need and the formalities you need to complete.
- Take the essential documents like academic certificates of past, admission letter, college prospectus,etc.
- The concerned officer will guide you and give all the instructions which you need to comply to get the loan sanctioned.
15th March 2017, 08:41 AM
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Default Re: Can I get education loan to study MBBS which requires 4 lakhs per annum?

The fees in medical colleges under comedk is 475000 rupees per year then how will i study in it when education lone provided by any bank is not more than 10 lacs..??
Do you have any question? or have anything to say?

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