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#1
21st September 2018, 05:26 PM
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Is LIC Policy acceptable against Collateral Security under Kotak Mahindra Bank Education Loan Scheme for BTech aspirant?
Hello everyone, I have a Life Insurance policy. I want to apply for an Education Loan from Kotak Mahindra Bank. 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
12th August 2022, 02:26 PM
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Re: Is LIC Policy acceptable against Collateral Security under Kotak Mahindra Bank Education Loan Scheme for BTech aspirant?
Any type of life insurance policy is acceptable for collateral assignment , provided the insurance company allows assignment for the policy .
A permanent life insurance policy with a cash value allows the lender access to the cash value to use as loan payment if the borrower defaults. |
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