#1  
27th June 2018, 09:54 PM
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Details of Collateral Security in State Bank of India Education Loan scheme?


Hello everyone, I am interested to apply for an education loan in State Bank of India. After searching alot I didn’t understand the term Collateral Security. Can I know about this Collateral Security of Education Loan in State Bank of India?




  #2  
2nd July 2018, 10:52 AM
Saikiranreddy47475
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Default Re: Details of Collateral Security in State Bank of India Education Loan scheme?

Details of collateral security in State Bank of India Education Loan Scheme are mentioned below :-

--> Upto Rs. 7.5 Lacs :- Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee

--> Above Rs. 7.5 Lacs :- Parent/ Guardian as co-borrower and tangible collateral security of suitable value acceptable to bank.
  #3  
4th July 2018, 09:39 PM
Career Expert
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Default Re: Details of Collateral Security in State Bank of India Education Loan scheme?

Collateral security details that you need to submit for getting an education loan from State Bank of India are mentioned below :-

=> Upto Rs. 7.5 Lacs :-
Parents/ guardians needs to be Co-borrowers. No third-party guarantee or collateral security is required.

=> Above Rs. 7.5 Lacs :-
Parents/ guardians needs to be Co-borrowers. Tangible collateral security of suitable value equal to loan amount should be submitted to bank.
  #4  
5th July 2018, 02:23 PM
Careerexpert
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Default Re: Details of Collateral Security in State Bank of India Education Loan scheme?

Quote:
Originally Posted by Unregistered View Post
Hello everyone, I am interested to apply for an education loan in State Bank of India. After searching alot I didn’t understand the term Collateral Security. Can I know about this Collateral Security of Education Loan in State Bank of India?

Students have to provide collateral security if the education loan amount is above Rs 7.5 Lakhs in State Bank of India. The collateral security may be in the form of land, shops, flats and building in the name of the student or his parents. Students can also pledge securities like Bank Fixed Deposits, NSC, LIC Policy, Public Sector Bonds, etc. for education loan. Students can contact the State Bank of India branch near their house for more details. Parent(s) should sign the documents as co-obligatory.
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