#1  
24th December 2013, 07:56 PM
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What should be the security for education loan?


Well suppose if i am opting for a technical degree at amity then What would be the security on education loan at amity ,,,,,,
  #2  
27th December 2013, 05:57 PM
SudeepKumarSaha
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Location: India
Posts: 8,583
Default Re: What should be the security for education loan?

Education loans has become the best friend of students in modern world as it has not helped the students to pursue their education as per choice in the best institutes of the country but also institutes abroad. Even though there are various norms and formalities to be completed to get an education loan sanctioned yet it has proved to play a vital role in modern day education system.

Coming to your query, the security deposit depends on the amount of loan you are taking for your technical degree course. If it is below 4.5 lakhs, then there is no need of any security deposit. If it is more than 4.5 lakhs and less than 7.5 lakhs then you need to pay 15% of the loan amount as the security deposit to the bank. If it is more than 7.5 lakhs you need to pay 20% of the loan amount as security deposit. You need to pay the security deposit as 15% of the amount reimbursed by the bank at that time whenever the bank reimburses an installment of the total loan amount.
  #3  
16th January 2014, 05:18 PM
ChakrabortyP
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Join Date: Dec 2013
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Default Re: What should be the security for education loan?

You are eligible for the education loan if you wish to pursue MBA. You have to apply for the loan. You need to visit the nearest bank branch where you and family members hold accounts. Your merit score will decide the sanctioning part as bank officials check the borrower’s credibility. Spanning from graduate, postgraduate and doctoral level programs in India, students can get loans.
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