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  #1  
20th April 2016, 11:42 AM
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Can I get an Education Loan of Rs. 20 Lacs against Land agreement papers as a Collateral Security? What is the minimum value of land for this Loan?


Hello Everyone,
I want to avail an Education Loan of Rs. 20 Lacs to study MS in Abroad. Can I deposit Land agreement papers as a Collateral Security? What should be the minimum value of land for this loan?




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  #2  
22nd April 2016, 12:42 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Can I get an Education Loan of Rs. 20 Lacs against Land agreement papers as a Collateral Security? What is the minimum value of land for this Loan?

Yes, you can definitely opt for education loan of 20 lakhs for your MS course in abroad by keeping your and as mortgage. There is no problem in keeping your land as mortgage unless the value of the land is less than your loan amount. The minimum value of your land should be at least the amount which will be computed including the principal(loan amount -20 lakhs) and interest which will be accumulated for the two years. So, the minimum value of the land should be around 30 lakhs.
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