InvestorQ : I am planning to take an education loan from a bank, but I do not have an account with the bank. Will the bank consider me for the loan?
Nitin Shah made post

I am planning to take an education loan from a bank, but I do not have an account with the bank. Will the bank consider me for the loan?

Answer
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2 years ago
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Yes, it will. Earlier, having an account in the bank from where the borrower was hoping to get a loan used to be an important criterion.

However, now it is no longer a mandatory requirement. Although, if you have an account with the particular bank, it usually becomes easier to get the loan sanctioned. This is because of the individual’s prior relationship with the bank, his/her past financial records and transactions that can be analysed faster to make a decision.

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