Why is getting a Educational loan so difficult?
By b4balaji
@b4balaji (410)
India
November 30, 2009 3:44am CST
I am planning to do my Masters abroad. The total expenses comes to around 14 lakhs INR. But due to funds problem, am not able to proceed.
All the nationalised banks say they can provide loan for education in India and Abroad. But there are lot of conditions to do that.
At last what remains is the enmity against the banks. Even with a collateral security worth 60 lakhs( my house), I am not get my educational loan sanctioned.
I have went to some 15 banks already, none of them respond well.
2 responses
@cognoscentethelegend (1209)
• India
30 Nov 09
Hi,
You are correct my friend. Not only to get educational loans, getting other loans is also a difficult thing. They are expecting more security from us. It means we need to maintain our bank balance and not the property of our houses and lands.
One of my friend approached for a loan. They refused to give him, because he doesn't have any property belongings to him. When his cousion showed property for him as a guardian, bankers accepted to give loan. So you try once again. I think you will get better result from the bank.
But i want to know for what purpose the banks are here to people? I never feel they are helping peoples in any way. I think bank is a place where our money are safe and secure.
