Education and Career Forum

Hello everyone, I have heard that Private 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.

Most of the banks have started selling insurance policies along with the loan to their customers, but they won't provide you anything for free. You have to pay for it, which will possibly be like a hidden charge.

Insurance is just a safety net for you. In case, something happens and you are not able to pay back the loan, then that insurance policy will act like a collateral for bank.