Education and Career Forum

Hello Sir, I want to apply an education loan in Indian Overseas Bank. I want to study BTech. Kindly tell me how I can apply for an education loan in this bank through online? Please tell me about the requirements also for applying in the same.

You need to first secure admission at a recognised university through engineering entrance exams like JEE Main or any state level engineering entrance exam. Once you have got the admission then you can approach any nearest branch to apply for the education loan.

Just make sure you have a guarantor to apply for the education loan. You need to fill the form and submit it with all the required documents to the branch near to your residence. Banks will verify all your documents and your guarantor's financial record before sanctioning your education loan.

Procedure to apply for Education loan in indian overseas bank for B.Tecg student :

>>You must bring out all the previous year academic certificates with originals and one set of Xerox copies

>>Must bring KYC documents of student and coapplicant that means parents and guarantor.

>>And must bring the rank card of the entrance exam of college where you wanted to join in B.Tecg course.

>>If you hot any admission letter from college then bring out that too with fee structure.

As per fee structure you will be entitled the educational sanction limit.

If the loan amount will be more than 7.5 lakh then you should make collateral security .

There is a margin requirement for more than 4 lakh loan in india it is 5% and study abroad it will be 15%.