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10th September 2015, 12:27 PM
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Possibility of extension in Education Loan of Rs. 10 Lacs for a candidate who is studying in Canada without Collateral Security?


Hello,
My son has availed an education loan for Rs. 8.5 Lacs now he needs to study 1 more year for his UG course to be completed. Can he avail an extension for nearly Rs. 10 Lacs as he is in Canada without any collateral security.




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11th November 2017, 04:10 PM
Saikiranreddy47475
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Join Date: Jul 2013
Posts: 14,288
Default Re: Possibility of extension in Education Loan of Rs. 10 Lacs for a candidate who is studying in Canada without Collateral Security?

No, it is not possible to get an extension in education loan of Rs. 10 lakhs without collateral security. For all the education loans greater than Rs. 7.5 lakhs, it is mandatory that you have to submit the collateral security documents of property equal to loan amount to bank for processing your education loan. So, without any collateral security, you can't get an extension in education loan of Rs. 10 lakhs for your son for pursuing his studies in Canada.
 
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