Student can apply for education loan upto 80% off total course fee from any nationalised bank.
As per RBI rules the applicant has to give a guarantor and collateral if the amount is more than INR 7.5 lakh.
Guarantor’s annual income should be INR 8 lakh per anum. In collateral applicant can mortgage any registered property or can keep fixed deposit and gold of worth INR 40 lakh minimum .
