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#1
28th November 2018, 02:50 PM
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Is LIC Policy acceptable against Collateral Security under Ahmedabad Mercantile Co-Operative Bank Education Loan Scheme for MCA(H) aspirant?
Hello everyone, I have a Life Insurance policy. I want to apply for an Education Loan from Ahmedabad Mercantile Co-Operative Bank. I am interested to study MCA(H) with the help of an Education Loan. So, I would like to know that this bank avail an education loan with LIC policy as a collateral security?
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#2
10th December 2018, 08:59 PM
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Re: Is LIC Policy acceptable against Collateral Security under Ahmedabad Mercantile Co-Operative Bank Education Loan Scheme for MCA(H) aspirant?
If the policy has some monetary value after maturity, then surely it can act as a collateral for your education loan. Hence, it will depend on the kind of policy you have at present.
Some policies don't have any maturity value and they are just for protection of the concerned individual, which will not be considered for collateral security. |
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