Education and Career Forum

Hi Sir, I have completed my 12th with Science stream and I am looking to get admission in any Journalism institute for undergraduate program. I haven’t taken any education loan yet. I have search about ICICI Bank education loan for me. I came to know that there is some collateral security term for getting loan from this Bank. I don’t know about this term. Can you get me know about this security while getting an education loan?

ICICI Bank Collateral Security Scheme of Bank Education Loan for Journalism aspirant;

Loan up to Rs. 4 lacs: Co obligation of parents
and no security

Loan above Rs. 4 lacs and up to Rs. 7.5 lacs: Co obligation of parents along with collateral in the form of suitable third party guarantee equal to the loan amount

Lian above Rs. 7.5 lacs: Co obligation of parents along with collateral in the form of suitable third party guarantee 100% of the loan amount and assignment of the future income of students for payment of loan amount is required.