Education and Career Forum

Can anyone of you kindly provide me the details of the insurance covered in the education loan scheme offered in Kotak Mahindra Bank? I am going to apply an education loan in this bank so I want to know about the insurance.

Kotak Mahindra Bank offers a range of education loan products to students who wish to pursue higher education in India or abroad. As per the bank's website, the bank provides the option to take an insurance cover for the education loan. However, it is not mandatory to opt for the insurance cover. The insurance cover provides protection against unfortunate events like the borrower's accidental death or permanent disability. The insurance premium is generally a one-time payment and can be included in the loan amount. The premium amount depends on the loan amount and the tenure of the loan. The specific details of the insurance cover may vary based on the education loan product chosen by the borrower. It is advisable to check with the bank for more details on the insurance cover offered with the education loan.