Education and Career Forum

Sir, I want to study MBA course from a private college so, I want to know that can I get education loan to study this course against my LIC Policy as I have no collateral for the same to submit?

Originally Posted by Unregistered

Sir, I want to study MBA course from a private college so, I want to know that can I get education loan to study this course against my LIC Policy as I have no collateral for the same to submit?

Yes, there are chances to get education loan to study an MBA course using LIC Policy as additional security. Many banks accepts LIC Policy as additional security. LIC policy to be assigned in favor of the bank for getting an education loan. Candidates should contact the bank branch nearest to their permanent residence for an education loan. Candidates can also use their fixed deposits or land or house as collateral security for getting education loan. Apart from this, they have to provide necessary documents to obtain education loans like income proof, admission proof, fee schedule, salary slip, bank statement or passbook copy for last six months, PAN Card of the student and parents’, copy of mark sheets etc.