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 State Bank of Patiala. So, kindly tell me what kind of securities they want to take for taking an education loan?

Securities against an Education Loan in State Bank of Patiala to study MBBS in Abroad are:

For loans upto 4 Lacs: No security required

For loans above Rs. 4 Lacs to Rs. 7.50 Lacs: You will be required to give a collateral security in the form of suitable third party guarantee.

For loans above Rs. 7.50 Lacs: You will be required a tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.