Education and Career Forum

Hello friends, I would like to know that if I am going to apply an education loan in Development Credit Bank for studying BTech, then what kind of collateral security is there in this Bank education loan? Actually, I am going to apply for an education loan in this bank so I wanted to know about the collateral security.

Collateral security required under Education Loan scheme of Development Credit Bank for BTech aspirant are as follows.

For loans upto Rs. 4 lacs: no security or collateral required.

For loans above Rs. 4 lacs to 7.5 lacs: Collateral in the form of a satisfactory third party guarantee.

For loans above 7.5 lacs: Collateral security upto 100% of the loan amount and guarantee of an earning acquaintance of the student for 100% of the loan amount.