Education and Career Forum

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

Securities against an Education Loan in Bank of Baroda to study MBBS in Abroad are as follows;

Up to Rs. 4.00 lacs - No security, only Co-obligation of parent is required.

Loan between Rs. 4.00 to Rs. 7.5 lacs - Need of collateral in the form of a suitable third party guarantee along with assignment of future income.

Above RS. 7.50 lacs - Need of tangible collateral security equal to the loan amount along with assignment of future income of the student for payment of instalments.

More info;
https://www.bankofbaroda.in/baroda-scholar-loan.htm