Quote Originally Posted by amit27 View Post
Hi All,

I am Amit. Just passed my graduation exam. I want to take admission abroad and I looking to take an eductional loan of around 7 lac. for my diploma course from one of the university in Australia.

My parents are retired and they are not working anymore but they are getting pension and some house rent. I have no option for third party guarantee. I am trying this option but no positive result till now.
  1. I want to know whether I will get this loan amount without third party gurantee or not?
  2. Is there any option for getting educational loan only on the basis of my house and FD?
You have not provided income of your parents (which they are mentioning in IT Return)
For Loan, you need a guarantor like a parent to be a co-signatory to the loan; sometimes a security might also be needed. loan eligibility is dependent upon the co-applicant’s income.

If you do have above option (Guarantor), you can take personal loan for this. But it is very expensive in the 18% per annum range.