Education and Career Forum

I am in a need of education loan so that I can get admission and study ICAI program. I am going to apply for an education loan in Jammu & Kashmir Bank Limited. Kindly tell me what are the securities they want to take for taking an education loan?

Originally Posted by Unregistered

I am in a need of education loan so that I can get admission and study ICAI program. I am going to apply for an education loan in Jammu & Kashmir Bank Limited. Kindly tell me what are the securities they want to take for taking an education loan?

Securities against an education loan in Jammu & Kashmir Bank Limited are given below:

For education loans up to Rs 4 Lakhs – No security. Parents to be joint borrowers

For loans above Rs 4 Lakhs up to Rs 7.5 Lakhs - Parents to be joint borrowers. Collateral security in the form of third party guarantee of 2 persons

For loans above Rs 7.5 Lakhs - Parents to be joint borrowers. Tangible collateral security with market value of not less than 100% of sanctioned limit and interest payable during moratorium and assignment of future income of the student for payment of installments.

Students can find the details in the website link given Click Here