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  #1  
17th September 2015, 07:38 PM
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Can I apply for Education Loan of Rs. 10 Lacs against Life Insurance Policy to study MS in Germany?


Hello,
I am getting scholarship of doing MS in Germany. But after getting scholarship I have to give Rs. 15 Lacs to study. I want an Education Loan of Rs 10 Lacs as I can manage Rs. 5 Lacs. But I don't have any asset or mortgage. I have a Life Insurance Policy with me. So, can I apply and get Education Loan against it?




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  #2  
9th February 2018, 04:48 PM
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Join Date: Dec 2013
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Default Re: Can I apply for Education Loan of Rs. 10 Lacs against Life Insurance Policy to study MS in Germany?

Quote:
Originally Posted by Unregistered View Post
Hello,
I am getting scholarship of doing MS in Germany. But after getting scholarship I have to give Rs. 15 Lacs to study. I want an Education Loan of Rs 10 Lacs as I can manage Rs. 5 Lacs. But I don't have any asset or mortgage. I have a Life Insurance Policy with me. So, can I apply and get Education Loan against it?

Yes, you can apply for an education loan on the basis of life insurance policy and other documents to study MS in Germany. Education loans are offered to students on the basis of future employment prospects of the course, repayment capacity, academic strength of the students, etc. The LIC policy can be used as a security along with other securities like third party security and land, building, NSC, Bank Term Deposits, etc. You should own the LIC policy and its surrender value are considered for an education loan.
Do you have any question? or have anything to say?



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