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  #1  
14th June 2016, 06:54 PM
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Is it necessary to submit Life Insurance Policy to apply for an Education Loan in UCO Bank?


Sir, I would like to know that is Insurance necessary to apply for Education Loan in UCO Bank? I want to take an Education Loan from this Bank so kindly tell me that I have to submit Life Insurance Policy to apply?




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  #2  
15th June 2016, 10:50 PM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Is it necessary to submit Life Insurance Policy to apply for an Education Loan in UCO Bank?

No, it is not necessary to submit life insurance policy in order to apply for education loan. Ideally, a bank will ask for the details of your income and assets. You need to furnish all the details and can mention your life insurance policy to make your application strong and get the sanctioning done easily. However, it is not compulsory to list down all the assets. Some banks even allow mortgage loan against life insurance policy. If such is the scenario then you will require to submit the life insurance policy documents to the bank.
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« Eligibility criteria and age limit to apply and get an Education Loan from UCO Bank for study MS in Abroad? | Does Bank offer total expenses of MBA offered under management quota? »

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