9th June 2014, 05:57 PM
Posts: n/a

Can I get Loan of Rs.4 lacs per annum for MBBS course?

I have passed hsc with 78.33% and have secured 80% in pcb group and seeking admission for mbbs course.i have obtained 131 marks out of 200 in asso-cet exam.i may get admission for mbbs course but it require 4 laks per year.can i get education loan? how can i get it?

17th June 2014, 11:40 AM
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get Loan of Rs.4 lacs per annum for MBBS course?

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.
Do you have any question? or have anything to say?

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