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

Securities against an Education Loan in Union Bank to study MBBS in Abroad are as follows.

Loan amount upto Rs. 4 Lakhs*there is no security required.

Above Rs. 4 Lakhs and up to Rs. 7.50 Lakhs:*Co-obligation of parents without any collateral security and third-party guarantee required

Above Rs. 7.50 Lakhs: Parents' co-obligation along with tangible collateral security of minimum equipment to loan amount to cover the loan amount with the assignment of the student's future income for payment of installments.

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