2 Replies to “For taking Educational Loan Do I or my Parents require an Account in the Bank in which I take the Loan?”

  1. Yes, if u apply for a loan in the bank u already have relationship with, it helps u lot in the procedures as the bank previously has all your information so the runaround is saved. also banks have a lot of paperwork that’s tedious and boring, you save a lot on the same too.

    And if you approach a bank that’s new for u, u can open an account to get the money transfer as most banks prefer to transfer the sum in your account.

    Also property mortgage is required if the Loan amount is higher than the consolidated family earnings or u have some other loans already running.

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