SPP Loan - Do we need an Education Loan or can we use a personal loan?

[xander]

Is it necessary for the loan to be an EDUCATIONAL loan? Or can we use other types of loan for our student visa? Personal loan or a loan on our FD in the bank?

 

[vishu639]

You should show education loan only (80% of tuition and living expenses is recommended) by using ur property or FDs..

 

[xander]

Thanks for the reply. So are you saying that I can get an educational loan based on my FD? Coz I thought you can only get a personal loan on your FD.

 

[hanidhaliwal]

Thanks for the reply. So are you saying that I can get an educational loan based on my FD? Coz I thought you can only get a personal loan on your FD.

yup.. the easiest way to get loan is fd..

 

[xander]

Yes but do they give you "Education" Loan based on your FD or just a "personal" loan?

 

[hanidhaliwal]

Yes but do they give you "Education" Loan based on your FD or just a "personal" loan?

yup ofcrse.. i alrdy got and most of d students take loan on fds only becozz its quick method..
all that bank require is some security for deir safe site.. it can be proprt, fd etcccc......

 

[enfield]

Yes but do they give you "Education" Loan based on your FD or just a "personal" loan?

Hi,

You get only 85% of FD.

 

[vishu639]

Yes and this is the fastest , easiest way to get an education loan

 

[vishu639]

even some banks offer loan on behalf of gold

 

[xander]

So I'll need about 13 lakhs of FD to get a loan of around 11 lakhs. But its definitely a quick way to get a loan.

 

[vishu639]

Yes..