Re: can we get non collateral Loan for abroad MBA
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23 Jan 2019, 22:05
Collateral is mandatory for getting any loan above INR 4 lakhs. A few NBFCs provide education loans against no collateral. But these loan options would also tail some limitations with it. Collaterals are used for providing a loan because in case one is not able to pay off their loan, the bank can regain its funds from the collateral provided. I am giving you a general list of documents you would require, rest the bank would be able to guide you further depending on the need and present circumstances.
Generally, for [url="https://www.loanbaba.com/loan-against-property-mortgages/state-bank-lap-loan.html"]SBI loan against property[/url], one needs the following documents:
1. Identity Proof: Aadhar Card, Voter's ID card, Driving License, valid passport.
2. Proof of Income
3. Last three month's salary statement
4. Last six months bank statement.
5. Last ITR and Form -16.
6. Passport size photographs of you
7. All the original deeds of the house
8. No encumbrances on the property proof
9. Estimate of work from Architect / Civil Engineer.