Education and Career Forum

Hello friends, I just got the information about the Star Education Loan Scheme introduced by BOI. Can I know what security they want to give the loan under this scheme? Kindly let me know about the security immediately.

Originally Posted by Unregistered

Hello friends, I just got the information about the Star Education Loan Scheme introduced by BOI. Can I know what security they want to give the loan under this scheme? Kindly let me know about the security immediately.

Students have to provide the following security under BOI Star Education Loan Scheme:

Education loans up to Rs 7.50 Lakhs – Parents to be joint borrowers

Education loans above Rs 7.50 Lakhs – Co-obligation of parents together with tangible Collateral security of suitable value along with the assignment of future income of the student for payment of EMI.

The security can be in the form of land / building / Government Securities / Public Sector Bonds / NSC / KVP / Banks Term Deposit, etc. in the name of Student / Parent / Guarantor / with suitable margin.

Students can find the details in the website link given Click Here