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#1
24th October 2018, 11:48 AM
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Whether Insurance Policy acceptable against Collateral Security under YES Bank Education Loan Scheme for MCA(H) aspirant?
Hello everyone, I have an Insurance policy. I want to apply for an Education Loan from YES Bank. I am interested to study MCA(H) with the help of an Education Loan. So, I would like to know that this bank avail an education loan with Insurance policy as a collateral security?
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#2
19th January 2022, 02:26 PM
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Re: Whether Insurance Policy acceptable against Collateral Security under YES Bank Education Loan Scheme for MCA(H) aspirant?
Yes insurance policy is accepted against education loan.
The cost of insurance cover with education loan is 2-3% of loan size. The policy of value of loan assigned in favor of bank. If LIC policy has any value after maturity then surely it can be considered as a collateral security. Any FD Bonds Property Insurance policy etc If they have any value after maturity can be taken as collateral security. |
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