24th April 2018, 04:38 PM
Posts: n/a

Who is a is co-borrower in Syndicate Bank Education Loan scheme?

I want to study BTech with the help of an education loan. I want to apply an education loan in Syndicate Bank. I have heard about the education loan of this bank but donít know about the co-borrower term. Can I know about the co-borrower?

10th June 2018, 12:57 PM
Senior Member+++++
Join Date: Apr 2018
Posts: 12,628
Default Re: Who is a is co-borrower in Syndicate Bank Education Loan scheme?

No security is required to borrow a loan of up to Rs 4 lakh and can be taken as a co-borrower with the parents. The loan upto Rs 7.5 lakh amount should be supported with the security of the parents in the form of a guarantee of co-borrowers and third party guarantees.
If the student leverages a loan of more than Rs 7.5 lakh, then for the repayment of the loan, the bank will have to commit a genuine security for equal value of equal security, while specifying future income to the bank. Committed security may include PSU bonds, government bonds or securities, land, buildings, NSCs, KVPs, UTI units, gold, life insurance policies, shares, mutual funds, debentures, bank fixed deposits etc.
Do you have any question? or have anything to say?

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