Education and Career Forum

Hello, I am interested to apply for an education loan in Axis Bank for studying MS in Abroad. After searching alot I didn’t understand the term Collateral Security. Can I know about this Collateral Security of Education Loan in Axis Bank?

Details of collateral security in Axis Bank Education Loan Scheme for MS in Abroad aspirant are mentioned below:-

—> Upto Rs. 4 lakhs :- NIL. Parents needs to be co-borrowers.

—> Above Rs. 4 lakhs and up to Rs. 7.5 lakhs :- Third-party guarantee should be provided and parents needs to be co-borrowers.

—> Above Rs. 7.5 lakhs :- Collateral security documents equal to bank loan amount should be submitted to bank.

Details of Collateral Security in Axis Bank Education Loan scheme for MS in Abroad aspirant are as follows.

Upto Rs. 7.5 Lacs: No collateral security or third party guarantee required. Only Parent/ Guardian will be as co-borrower.

Above Rs. 7.5 Lacs: A tangible collateral security along with Parent/ Guardian as co-borrower will be required.

You can find details on the below mentioned website link.
https://www.sbi.co.in/portal/web/stu...m/student-loan