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#1
18th March 2018, 01:33 AM
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Is LIC Policy acceptable against Collateral Security under Central Bank of India Education Loan Scheme?
Hello everyone, I have a Life Insurance policy. I want to apply an education loan from Central Bank of India. I am interested to study BTech 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
21st September 2022, 05:26 PM
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Re: Is LIC Policy acceptable against Collateral Security under Central Bank of India Education Loan Scheme?
Yes LIC policy is acceptable as collateral security .
Both FD and LIC policy is acceptable For fixed deposit, FD principal value is considered while surrender value is considered in case of LIC policy. Some of the collateral security accepted against education loan are House Apartment Bungalow FD LIC policy Stocks etc |
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