[Resolved]  Corporation Bank & Idbi Bank — NOT PROVIDING EDUCATIONAL LOAN

Sir,

I am N G PRATHAPAN residing at Noida and my daughter is studying in BCA final year at JSS College of Technical Education under Gurugovind Singh IP University Delhi. She got the admission through entrance exam.

I am the only one earning member in my family and my two daughters are studying. One is in Class – X and the other is in BCA.

Two years fee of my daughter for BCA already paid by me. Now I could not pay the 3rd year (final) as I met an accident and spent lot of money.

Sir, educational loan is providing to student without any security if the amount is less than Rs.7.5 lakhs. My daughter need only Rs.50, 000/- and every bank is denying to pay the loan. I have approached the following banks and giving the feed back.

1. Corporation Bank, Sector – 26, Noida.

The have strictly deny the loan because the student’s father has any own house

2. IDBI Bank, Sector – 63, Noida.

I have submitted all the document and they are saying that the student’s father has running loans.

Sir, I have taken loan from bank and the EMI is going smoothly without any default. Sir, the education loan is providing to the student and not her / his father. However, if the student is fail to pay then the co-applicant (Father / Guardian) has to pay. If the applicant & co-applicant has fail to pay the EMI after the student’s education completed, then the bank has the right to take action.

Sir, my daughter & myself has the voter ID, Pan card, telephone connection etc as proof of ID / Address proof. I am also an Income Tax payee then why the bank is rejecting the loan.

Sir, please take necessary action as this is the future of my daughter.

Thanks

N G PRATHAPAN
Tel: [protected]