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#1
25th January 2019, 04:25 PM
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Is LIC Policy acceptable against Collateral Security under HDFC Bank Education Loan Scheme for MTech aspirant?
Hello everyone, I have a Life Insurance policy. I want to apply for an Education Loan from HDFC Bank. I am interested to study MTech 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
1st February 2019, 01:57 PM
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Re: Is LIC Policy acceptable against Collateral Security under HDFC Bank Education Loan Scheme for MTech aspirant?
Yes, LIC Policy is acceptable as collateral security in lieu of education loan provided under HDFC Bank Education Loan Scheme. The LIC policy should be equal or more than the amount of loan sanctioned. In case of untimely demise of the borrower, the bank recovers the amount from the LIC policy.
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