How to apply for education loan in iiits?
Asked by Sanugonda Vijay kumar
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1 Answer
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Process for education loan:
The institution needs to be in the approved list of the lender. As far IIT goes, it will definitely be there on the list of all the lending institutions
The student needs to approach the lending institution and apply for the loan along with the guarantor.
Depending upon the value of loan one may be required to furnish collateral. In case of the value of 7.5L, the loan needs to be covered with a collateral
One would also be required to furnish the income documents of the guarantor, which in normal course is the parent, apart from the KYC documents.
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