Education Loan for students above 35 years in INDIA

[Kenny76]

Hi Guys,

Anybody here availed education loan after competeing 35 years of Age? There is no rule from RBI but banks are making their own rules.

Anybody here who crossed this hurdle?

-Kenny

 

[selvakk]

Hi Guys,

Anybody here availed education loan after competeing 35 years of Age? There is no rule from RBI but banks are making their own rules.

Anybody here who crossed this hurdle?

-Kenny

If your local bank branches are giving you problems, then you can use the government vidhyalakshmi portal. You can apply to up to 3 banks in one application. You can also see which bank is offering favourable terms.

https://www.vidyalakshmi.co.in/Students/

 

[svelkumar]

Hi Guys,

Anybody here availed education loan after competeing 35 years of Age? There is no rule from RBI but banks are making their own rules.

Anybody here who crossed this hurdle?

-Kenny

I got educational loan at the age of 39 years from SBI. Many banks don’t give loans if you are more than 35 years.

 

[Kenny76]

If your local bank branches are giving you problems, then you can use the government vidhyalakshmi portal. You can apply to up to 3 banks in one application. You can also see which bank is offering favourable terms.

https://www.vidyalakshmi.co.in/Students/

Thanks Selvakk, I am planning to visit SBI today and HDFC guys coming home on Sat. Let see. I did try the VidyaLakshmi Portal but for some reason or another could not complete the form. Will try on weekend.

Thanks so much for the reply.

 

[Kenny76]

I got educational loan at the age of 39 years from SBI. Many banks don’t give loans if you are more than 35 years.

Hi SvelKumar,

Thats so heartening to know. I wanted to avoid dealing will Govt banks due to their non-cooperative attitude but looks like will have to knock their door only.

Which year did you apply?

 

[selvakk]

Hi SvelKumar,

Thats so heartening to know. I wanted to avoid dealing will Govt banks due to their non-cooperative attitude but looks like will have to knock their door only.

Which year did you apply?

Actually the SBI branch manager in my area was the best in terms of helpfulness. I think most of us have a negative stereotype of govt banks but it really depends on the induvidual branch managers attitudes. I guess I lucked out that my branch manager is good.

If you have a relationship with the branch, then it's always easier whether public or private. If not you can always try the vidhyalakshmi portal.

 

[svelkumar]

Hi SvelKumar,

Thats so heartening to know. I wanted to avoid dealing will Govt banks due to their non-cooperative attitude but looks like will have to knock their door only.

Which year did you apply?

I applied Nov 30th and got approved February 8th 2019.

 

[svelkumar]

Actually the SBI branch manager in my area was the best in terms of helpfulness. I think most of us have a negative stereotype of govt banks but it really depends on the induvidual branch managers attitudes. I guess I lucked out that my branch manager is good.

If you have a relationship with the branch, then it's always easier whether public or private. If not you can always try the vidhyalakshmi portal.

Problem with them is they don’t come back quickly on any additional documents requirements and they keep asking one by one. Also since I was working outside the country it took me more time. It can be finished in maximum of 4 weeks if you followup continuously.

 

[Kenny76]

I applied Nov 30th and got approved February 8th 2019.

More than 2 months ...

I met my local branch manager today and as we have locker and an old account there. He was pretty helpful. Asked me to apply through Vidhyalakshmi portal. Will do that and see what happens. As per him it will take 15 days.

 

[selvakk]

Problem with them is they don’t come back quickly on any additional documents requirements and they keep asking one by one. Also since I was working outside the country it took me more time. It can be finished in maximum of 4 weeks if you followup continuously.

My manager gave a list of documents, nothing additional was required. We applied in late march, so he told us it might take some more time. Usually it takes 15 days after you get all the documents ready.

 

[Kenny76]

My manager gave a list of documents, nothing additional was required. We applied in late march, so he told us it might take some more time. Usually it takes 15 days after you get all the documents ready.

Hey Selvakk, do you have that list? Can you please send me in DM or post it here.