Education and Career Forum

Hello sir, I want to study degree course and want to apply for an education loan. I want to know can I apply for an education loan in security of Health Insurance policy? Amount of policy required for it?

Usually bank's do not allow any loan sanction against health insurance policy. This is because there is nothing like definite return from health insurance unlike other insurances. You can get loan against life insurance or other public sector bonds and securities but not health insurance. However, you can take education loan for your degree course up to 7.5 lakhs without any collateral security. If you wish to take loan above 7.5 lakhs then you need to mortgage some property which can be land, house, building, shops, LICs, NSCs, public sector bonds, etc.