The obvious answer is you need family property for collateral, but my life says otherwise — public sector banks like SBI often accept a strong co-applicant (like a salaried parent) and the loan itself as collateral. Interest is brutal, though, starting around 9-10% and giving me sleepless nights over repayment.
I just got my NYU admit and my father’s teacher salary is our only asset, so we’re sweating the paperwork over chai, hoping his service history will be enough. Honestly, it feels riskier than my solo hike down Robber’s Cave at dusk.
#exams#study
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