Education and Career Forum

Hello sir, I have qualified KIIT entrance exam for B.Tech. KIIT fees are very high and my father can't effort so much money. So, can I get education loan from any bank against of LIC policy?

Yes, you can definitely get education loan against LIC policy. However, the actual decision will be based on your amount of education loan which you are seeking and the LIC policy amount. For education loan, it can be taken against land, building (house) , Govt. Securities, Public Sector Bonds (LICs), NSC, KVP, LIP, Banks Term Deposit etc. You will need to mortgage such securities only in the case when you are opting for education loan higher than 7.5 lakhs.

Yes, one can get education loan based on LIC policy. Anything which has a value after maturation will be considered as a security for education loan but they will evaluate your policy before granting loan and also amount will depend on the current value of policy.

A LIC policy alone can't get you education loan but it surely has a value which can be used to get a loan. You can also use other things like fixed deposits and bonds to avail loans.

Sir I want to take loan against my lic endowment of 1lakh. I pay approx 75000 thousand
How much I get loan.

Can I get education loan against my license policy bonds as surities in camera bank