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#1
7th October 2016, 05:25 PM
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What kind of security is demanded under Education Loan scheme of Bank of Maharashtra?
Can anyone of you kindly let me know about the security details, which is essentially requires for applying an Education Loan in Bank of Maharashtra? Kindly tell me about the security deposit. Thank you!
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#2
8th October 2016, 04:40 PM
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Re: What kind of security is demanded under Education Loan scheme of Bank of Maharashtra?
The security which is needed for education loan depends on the loan amount which you are seeking. For loan upto 7.5 lakhs, there is no security required. The only security required is marginal deposit. For studies in India, you need to pay 5% while that in abroad, is 15% of the total amount. Apart from this, you need security if seeking loan above 7.5 lakhs which can be - land, house, vehicle, building, shop, public sector bonds, government securities, NSC, KVP, LIP, term deposits in Bank, LIC, etc.
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