Education and Career Forum

Sir,
I want to get an education loan for studying MBA. I am preparing for CAT also. I want education loan of upto Rs. 7.5 Lacs. I would like to know that what cutoff percentile I have to secure so that I can get education loan?

There is no cut off percentile that is required to get an Educational Loan.
You need to get admission to a college for the course of MBA and once you are able to do so you can get an Educational Loan that is equivalent to the course fees for the course of MBA in that college.
Once you are able to get admission you will also be able to get the Educational Loan and there is no cut off percentile that is required to get the Educational Loan sanctioned.

The banks do not pay much heed to the percentile in CAT while sanctioning the education loan for MBA course. The prime thing which matters is the institute from which you got admission call and want to seek admission. The institute should be of good reputation and should provide good exposure facilities. Getting admission in the top institutes of the country like IIMs, ISB, FMS, MDI, etc. will facilitate in getting easy loan to meet the expense of the course. However, it will be personal loan and not education loan since there is a limit in education loan (10 lakhs for study in India) and usually the loan is offered as non-collateral loan. If you want to opt for education loan of 7.5 lakhs you can get it if you take admission in a well recognized and reputed institute offering good exposure.