Hi sir,My name is Sailaja.I am applying for masters,actaully i want to know about the student loans.my mother have fixed deposit of about 5.5 lakhs,by using this as collateral can i get 8 lakhs of loan in SBIi?if not, how much will i get?my mother is a governament worker, earning 15 thousand per month,so will her surity gives any surplus benifit to get loan?she is having 3 more years to get retire.even my uncle ,who is even a Government worker ,willing to help me.as i already told you that he is my uncle , not related to family.then will his surity also help me to get education loan?
Try to get an education loan without collateral. There are many banks willing to risk their capital to educate you. Is that course which you propose to do worth Rs 800,000? What are your job / salary prospects after completing that course?
Your vote on this answer has already been received
Generally u dont need any collateral for securing education loan.....a government worker might help u as the guaranter.......n as per my last updated knowledge, the limit for ed loan in india was 7.5 lakh.......plz confirm these fatcs before taking any decision