Education and Career Forum

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

Securities against an Education Loan in Kotak Mahindra Bank to study BTech:

For loan upto Rs. 7.5 Lacs, no collateral or security required. Only Parent/ Guardian will be act as co-borrower.
Above Rs. 7.5 Lacs, Parent/ Guardian will be act as co-borrower and tangible collateral security equal to loan amount is required.

Securities against an education loan in Kotak Mahindra Bank for pursuing B.Tech course are mentioned below:-

—> Loan upto Rs. 4 lakhs:- Parents/ guardian to be co-borrower.

—> Loan above Rs. 4 lakhs and upto Rs. 7.5 lakhs :- Parents/ guardian to be co-borrower and Collateral security in the form of suitable third party guarantee should be provided.

—> Loan above Rs. 7.5 lakhs:- Parents/ guardian to be co-borrower and tangible collateral security equal to 100% of loan amount should be provided.