Education and Career Forum

Hello,
I am a B.Tech student, pursuing final year. I want to get an Education Loan for studying M.Tech. Kindly tell me the detailed procedure for applying. Thank you in advance.

You need to get admission to the course of M.Tech at first to be eligible to get an Educational Loan.
You will have to provide the Letter of Admission as a document to apply for the Loan.
You will also have to provide a guarantor along with his IT Return for the last financial Year to get the Loan sanctioned.
These are the steps you need to follow to get your Loan sanctioned after admission to the course of M.Tech.

Procedure to apply for education loan :-

- Get the admission call from a recognized and reputed institute.
- Approach the bank near your residence for education loan.
- You can approach any bank as per your choice and convenience.
- Approaching public sector banks is a better option as one can get different subsidies formulated by Government of India.
- Take the prospectus of the concerned institute in which you are seeking admission and your previous academic records while approaching bank.
- Contact the branch manager and get to know the details of education loan and your eligibility for the loan.
- If positive response from bank, get to know the detailed terms and conditions. Proceed as per bank's instructions to complete all formalities. Comply with the terms and conditions. Apply for the loan signing various documents and providing necessary info to the bank. Wait for the loan to get sanctioned.