Education and Career Forum

I am in a need of education loan so that I can get admission and study MBA in Abroad. I am going to apply an Education Loan in Bandhan Bank. So, kindly tell me what kind of securities they want to take for taking an education loan?

Bandhan Bank may ask for the following securities for an Education Loan to study MBA in Abroad:

• Collateral Security: The bank may ask for collateral security like a property or a fixed deposit account. The value of the collateral should be equal to or greater than the loan amount.
  
• Co-applicant: The bank may ask for a co-applicant, who can be a parent, spouse or sibling, to provide the guarantee for the loan. The co-applicant's income and creditworthiness will also be considered while sanctioning the loan.
  
• Third-party guarantee: In some cases, the bank may ask for a third-party guarantee from a person who is not related to the borrower or co-applicant. The guarantor should have a good credit history and be willing to sign an agreement to repay the loan in case the borrower is unable to do so.

The exact securities required by Bandhan Bank may vary depending on the loan amount, course, institute and other factors. It is best to check with the bank for the specific requirements for an Education Loan to study MBA in Abroad.