Education and Career Forum

Hello friends, I have a LIC policy. I want to apply an education loan from Axis Bank. I am interested to study MBA 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?

Originally Posted by Unregistered

Hello friends, I have a LIC policy. I want to apply an education loan from Axis Bank. I am interested to study MBA 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?

LIC Policy acceptable as an additional security under Axis Bank education loan scheme. Additional security in the form of LIC Policy in favor of the bank with sum assured being at least 100% of the education loan amount. Annual premium of the policy may be included while calculating the loan requirement and future income of the student needs to be assigned in favor of the Axis Bank to meet installment obligations. Details can be seen in the Axis Bank website link given Click Here