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 Punjab & Sind Bank. So, kindly tell me what kind of 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 MBA in Abroad. I am going to apply an Education Loan in Punjab & Sind Bank. So, kindly tell me what kind of securities they want to take for taking an education loan?

Securities required to apply for an education loan in Punjab & Sind Bank are given below:

There is no security required for an education loan of up to Rs 4 Lakhs

Applicant’s parents should execute the document as joint borrower

For education loan above Rs 4 Lakhs to Rs 7.50 Lakhs:

Applicant’s parents should execute the document as joint borrower

They have to provide Collateral Security in the form of third party guarantee

For education loans above Rs 7.50 Lakhs:

Applicant’s parents should execute the document as joint borrower

They should provide tangible Collateral security of suitable value and should assign the future income of the student borrower for payment of installments.