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Thread: Education loan

  1. #1
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    kanhaiya vishvakarma
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    Education loan


    Dear freind,

    recently i have taken admission in mba ist year through madhya pradesh management entrance exam.

    When i went to state bank of india, indore gpo branch the loan officer said to me that you have less percentage in 10th and so you don't have eligibility for geting loan.

    Before 15-20 days there was an order of high court stating that those persons who have less percentile in there academics should also be given education loan.

    After knowing this i again went to bank and asked to them about the same. But still they are saying same thing.


    Freinds i want to know that what are the criteria of education loan.

    When we go personly bank officer don't response positively and therefore i want to use rti.

    Please help me what should i do.



  2. #2
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    Default Re: Education loan


    Kanhiya ji

    Please ask the bank/s to provide the list of complete formalities required for providing education loan & try to check the same on their web sites.

    Then see weather you are eligible for education loan or not.

    you can take the Help of RTI Act-2005.

    1. They (bank/s) are not giving you information about the criteria/foramlities

    2.you are eligible for education loan and the bank is not providing the loan.

    Possibly this info will be of good help to you

    regards

  3. #3
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    Default Re: Education loan


    The banks do see the academic record before giving a loan. They will supply you the rules in this regard. But ask your query under RTI with reference to the judgment of High Court you have referred to.

  4. #4
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    Default Re: Education loan



    Please see STATE BANK OF INDIA :: INDIA's LARGEST BANK for their conditions. Download the application form from the given link, take a print out and fill it up. Then send it along with the documents mentioned in the link. The bank will either have to grant the loan or reject it after giving adequate reasons.
    As per RBI guidelines educational loan has to be treated as priority sector loan and no bank can refuse it. Marks in prior exams cannot be a criteria for loan.

  5. #5
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    Default Education Loan


    Hi everyone,

    I have one problem to get education loan in SBI Bank. My native is VEERIYAPATTI near karur. There is a private bank named "South Indian Bank". But SBI bank is located 10 km away from my village. I want to get education loan in SBI bank. So I go to SBI branch and enquire about education loan but they said that you can't get education loan from our branch.you are eligible to get education loan only in your village private bank.is it rigth or not?

    Thank you.

    Regards,

    R.Shankar
    (Posting of mob. no. is against RTI India - Forum Rules - hence deleted)
    Last edited by ambrish.p; 09-07-2009 at 02:40 PM. Reason: mob. no. deleted

  6. #6
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    Default Re: Education loan


    Dear Shankar

    Please see post # 4 (above)

    regards

  7. #7
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    Default Re: Education loan


    As for High Court judgement stated above, bank will take more than 6 months to operationalise at branch level after RBI sends communication to banks. RBI will wait for appeal period also.

    All banks are having details of educational loans on their websites. Hence websites should be perused for criteria etc.

    Mr. Shankar,

    Since private bank may be charging more or their terms may not be suitable to you, you should approach public sector bank and branch to which your village is allotted under lead bank scheme. This info can be had from gram panchayat or talati or lead bank of your area or even from South Indian Bank branch of your village.
    It takes each of us to make difference for all of us.

  8. #8
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    Manivel
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    Default Re: Education loan


    I have something on the same line.

    I met the branch manager of Canara Bank and he said he cannot offer loan since I have had second attempts in few subjects during my graduation. When I enquired about this with their customer care center, they say such a rule doesn't apply until you still have a backlog. Instead the cust. care exec says the bank doesn't give loan to those with work experience. I have 4yrs of work ex. and my course is a full-time regular course.

    Can I use RTI here? Also, do I need to consult a lawyer before filing it?

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