Education and Career Forum

Hello Sir/Madam,
I would like to know that what are the terms and conditions of collateral security which is eligible to apply for Bank Education Loan? Please reply as soon as possible.

To avail educational loan the candidate has to keep security.

The most important terms and conditions of security to apply for educational loan is as follows:

1. If the educational loan amount is below Rs.4 lacs, then the banks will not ask for security, Just it needs obligations of parents.

2. If the educational loan amount is in between Rs. 4 lacs to Rs.7.50 lacs then one must keep collateral security in the form of a third person guarantee.

3. For the educational loan amount Rs.7.50 lacs and above the person has to keep the tangible collateral security equal to 100% of the loan of amount.

To get Bank Education Loan of more than 7.5 lakh rupees, you need to submit Immovable property equal to bank loan amount as a collateral security. You need to have proper documents of collateral security which you are providing to bank. The collateral security can be house, property, etc. By submitting all required documents of collateral security, you can get education loan from the bank.