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  #1  
24th June 2016, 05:43 AM
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How margin can be included in Education Loan of Rs. 7 Lacs in Dena Bank?


Hello,
I have searched for Dena Bank Education Loan scheme. There it is mentioned that margin is available. I want to know that if I take an Education Loan of Rs. 7 Lacs then how margin can be included? I didn't understand much more about margin. Please let me understand.




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  #2  
26th June 2016, 03:28 AM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: How margin can be included in Education Loan of Rs. 7 Lacs in Dena Bank?

Margin is the security deposit which the bank will take from you against your education loan. The marginal amount will be asked to credit by you at the time of every loan installment disbursement. Usually the margin is 15% for a loan of 7 lakhs. This means suppose you ask bank to pay the college fees of 1 lakh as first loan installment disbursement, then the bank will ask you to deposit 15000 in the account. So when the bank will disburse 85000 as loan amount and will take 15000 from your account to pay the college fees of 1 lakh. This condition of 15% will hold for disbursements as education loan.
Do you have any question? or have anything to say?



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