#1  
7th June 2016, 01:39 PM
Unregistered
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Whether my elder can brother become a Guarantor to apply for an Education Loan?


Hello Sir, My Name is Anjali Agarwal and I am studying my Graduation from Pune and would like to pursue my MBA from Mumbai. I would like to apply for an Education Loan for that purpose. My Dad is expired a couple of years back and my Mom is a housewife. I have an elder brother who is the earning member of our family. So can I keep him as my Guarantor for applying my Education Loan.





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  #2  
7th June 2016, 08:43 PM
Saikiranreddy47475
Senior Member+++++
 
Join Date: Jul 2013
Posts: 14,288
Default Re: Whether my elder can brother become a Guarantor to apply for an Education Loan?

Yes, your elder brother can be a Guarantor to apply for your Education loan. Anyone who takes care of the Guardian can become a Guarantor. The Guarantor must be a working employee with at least 20000 to 30000 rupees salary per month. In addition, he must have salary slips as a proof that he is receiving income. If he does not have salary slips even though he is an earner, he is not eligible to be a Guarantor for your education loan. Since, your elder brother is working and if he has salary slips, he is eligible to be a Guarantor for your Education Loan.
  #3  
8th June 2016, 06:03 PM
Jits56
Senior Member++++
 
Join Date: Sep 2015
Posts: 2,823
Default Re: Whether my elder can brother become a Guarantor to apply for an Education Loan?

Quote:
Originally Posted by Unregistered View Post
Hello Sir, My Name is Anjali Agarwal and I am studying my Graduation from Pune and would like to pursue my MBA from Mumbai. I would like to apply for an Education Loan for that purpose. My Dad is expired a couple of years back and my Mom is a housewife. I have an elder brother who is the earning member of our family. So can I keep him as my Guarantor for applying my Education Loan.

Yes, you can make your brother as Guarantor or a co-applicant of the education loan. The co-applicant should be working individual from any government or private sector companies. The co-applicant should have very good employment record. The co-applicant should have good employment record with minimum 2 years in employment and at least 1 year in the current organization. So you can make him as a guarantor, you can contact the bank near your house for more details.
Do you have any question? or have anything to say?



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