Table of Contents
- 1 Can my uncle be my co applicant for education loan?
- 2 Can I get a student loan if my parents are retired?
- 3 Can my brother in law be my co applicant for education loan?
- 4 How much collateral is needed for education loan for abroad?
- 5 Can my brother in law be my co-applicant for education loan?
- 6 Why can’t you be an education loan co-applicant?
- 7 Can friends be co-borrowers?
Can my uncle be my co applicant for education loan?
The financial co-applicant can be anyone who is related to the loan applicants by blood. First cousins, own siblings, paternal uncle or aunt, and maternal uncle or aunt are some of the preferred choices for financial co-applicants.
Can I get a student loan if my parents are retired?
Even the income of parents’ also need not be taken into account. So even in case your father has retired and you do not have any collateral assets to offer, you can easily get a loan up to Rs. 4 lacs from any national bank in India, provided the course is approved by the Indian banker’s association.
Can my brother in law be my co applicant for education loan?
In case the collateral to be provided is not provided by one of the above relatives, then the collateral could be provided by one of the following relatives provided they are brought into the arrangement as Co-applicant(s) viz: Father-in-law; Mother-in-law; Sister-in-law; Brother-in-law; Maternal or Paternal Uncle or …
Can I take education loan for my nephew?
2010-11 Relative also includes student for whom the individual is the legal guardian. Education loan taken for siblings (brother / sister) or other relatives (in-laws, nephew, niece, etc.) would not qualify for section 80E benefit.
How does GyanDhan earn money?
How does GyanDhan make money? For loans given by financial institutions, GyanDhan charges an origination fee (\% of loan amount) which is based on our agreements with the partner financing institutions. Note: GyanDhan does not charge any fees from the students for the loans that it helps arrange through the banks.
How much collateral is needed for education loan for abroad?
Collateral Required for Education Loan According to RBI, the maximum amount eligible for a study loan for courses in India is Rs. 10 lakhs while for studying abroad, it is Rs. 20 lakhs.
Can my brother in law be my co-applicant for education loan?
Why can’t you be an education loan co-applicant?
If your co-applicants’ CIBIL score had gone down because of reasons such as a loan write-off, a loan settlement, etc., lenders will strictly not allow them to be education loan co-applicants. A low CIBIL score is considered to be one of the pointers of a bad education loan co-applicant profile.
Can an NRI be a co-borrower/guarantor for an education loan?
Yes, he can be a co-borrower/guarantor provided he has an NRI account and the collateral is in India. In either cases additional co-borrower is required. Education loan for students going to: USA
Can a student apply for an education loan without collateral?
This provision is generally not applicable to students who apply for an education loan without collateral to fund their undergraduate and postgraduate courses abroad. It is only applicable to those who meet the requirement of having the relevant work experience at the time of applying for the education loan.
Can friends be co-borrowers?
Friends can’t come as co-borrower because of the risk involved and underlying company policy in this regard. We accept only family members as co-borrowers 3. Can friends be co-applicants? Friends can only to be guarantors at the most and not the co-applicants. 4. My father/Relative works in Abroad. Can he be a co-borrower/guarantor?