I borrowed education loan from Punjab National Bank. I have completed my studies and have started working as well. But somehow, I couldn’t pay last 5 EMIs. Now, I need a personal loan. Will my default status on education loan have a bearing on CIBIL score? Can my application for personal loan be impacted due to default in education loan?
Definitely an education loan default will be shown in CIBIL report and score and it will certainly have an adverse impact on your personal loan application. First pay your education loan completely and then think of borrowing any other loan.