Educational loan
sunil kumar kalra
(Querist) 29 May 2013
This query is : Resolved
Sir,
I would like to know if any one having bad cibil record than why the banks and other financial agencies not giving the educational loans to their child. Its meaning if some one father or mother or brother is having bad cibil mean that person or child is also have the bad cibil in future means a son or daughter of thief will also be a thief
regards
sunil Kalra
ajay sethi
(Expert) 29 May 2013
the reason why no loan would be given to child is the the loan is given on basis of guarantee of parents . child is not earning at present . so track record of parents is seen
Rajendra K Goyal
(Expert) 29 May 2013
Agreed with the Expert. Some Banks also give education loan taking father / mother as co-borrower and the CIBIL record is taken into account of each. Alternatively, You can give tangible security for the loan. Moreover, giving loan is a credit decision and credit institution try to adopt all avenues for the safeguard of its assets. You may also approach CIBIL for correction of the record if any discrepancy exist. When the child will be able to take loan independently, his CIBIL record would be considered.
