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#1
3rd March 2018, 12:56 PM
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Detailed information about Collateral Security in Education Loan? Which bank doesn’t have collateral security scheme?
Sir, I have searched about education loan and heard about collateral security. I will do my B.Tech with education loan because there is no other option for me. But I am not familiar with the term of Collateral Security. What does this mean? Can you give me details? I would also like to know which bank haven’t terms and conditions like collateral security?
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#2
22nd September 2022, 04:50 PM
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Re: Detailed information about Collateral Security in Education Loan? Which bank doesn’t have collateral security scheme?
Bank insist on collateral for loan above Rs 7.5 lacs
Collateral can be in form of insurance policy in favour of bank. For loans above 4 lacs , personal guarantee is required from a person whose income and repayment capacity is acceptable to the lender. Some of the collateral security are Real Estate Equipment Inventory Invoices Some of the lenders that provide loan without collateral Public banks like SBI, Bank of Baroda Private banks like ICICI, HDFC NBFCs like Incred, Auxilo Foreign lenders like Leap finance, Prodigy finance. |
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