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  #1  
3rd March 2018, 01:56 PM
Unregistered
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Education Loan of Public Sector Banks comes with an insurance package as well?


Hello Sir, I have heard that Public Sector Banks are giving insurance for those candidate who is taking education loan through these banks? Is it true or false? Because I have heard but I want to confirm first then I will move ahead to apply for loan.




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  #2  
24th September 2022, 12:09 AM
Hera tabrez
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Join Date: Oct 2020
Location: Kanpur
Posts: 6,959
Default Re: Education Loan of Public Sector Banks comes with an insurance package as well?

When it comes to abroad education loan process of government banks , it's not compulsory to buy education loan insurance along with loan

But in case of NBFCs and private banks , all applicants without collateral must purchase an education loan insurance .

In case of secured education loans , government banks charge around 0.5% to 1% of entire education loan amount as loan insurance fees .

Private banks charge around 1.5% of total loan amount as an education loan insurance fees while NBFCs charge close to 2% .
Do you have any question? or have anything to say?



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