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

If the loan amount is above Rs 4 lakh & up to Rs 7.50 lakh, then Collateral security by way of third party guarantee is required. If loan amount is above Rs 7.50 lakh, then full tangible collateral security is required.

Securities is required for Education Loan from Allahabad Bank to study MBA Abroad. When you take education loan up to 4 lakhs, only the student and the present have to sign the document and no collateral are necessary. However, if your loan amount is between 4 lakhs and 7.5 lakhs, you will have to provide third party guarantee to the bank.