Proof of funds required URGENT

[Yash1519]

I am planning to do a 2 year undergraduate diploma in Culinary Management. The cost is of turion is around 16 Lakhs but I will be taking a education loan. My mom will be my sponsor she is a government nurse and her ITR for the last 3 years is around 3 lakhs, she has around 4 lakhs in her bank account and 14 lakhs in her GPF account and I live in a home that is worth around 1 crore
Are these things enough to show as Proof of funds?


Please reply really anxious here.

 

[selvakk]

I am planning to do a 2 year undergraduate diploma in Culinary Management. The cost is of turion is around 16 Lakhs but I will be taking a education loan. My mom will be my sponsor she is a government nurse and her ITR for the last 3 years is around 3 lakhs, she has around 4 lakhs in her bank account and 14 lakhs in her GPF account and I live in a home that is worth around 1 crore
Are these things enough to show as Proof of funds?


Please reply really anxious here.

If you are getting a loan above 7.5 lakhs what is important is the collateral. This collateral ( in this case your house ) should be valued at more than 3 times the loan amount. Some banks may not care much about the ITR returns if the property is in a good location and the loan amount is small compared to the value of the property.

The best thing is to speak with the bank manager of a bank where you and your mother have an account. Always check 2-3 banks before deciding.

 

[Yash1519]

Okay
Thank you for the information