Education and Career Forum

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

The collateral security is required only if you are taking an education loan of more than Rs. 7.5 lakhs. To get an education loan of more than Rs. 7.5 lakhs, you have to submit the collateral security documents equal to loan amount. Collateral security documents are nothing but, the documents related to house, flat, etc.,.