Education and Career Forum

Hello everyone, I have a Life Insurance policy. I want to apply for an Education Loan from Oriental Bank of Commerce. 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 LIC policy as a collateral security?

Yes LIC policy will be accepted as collateral security for Education loan for more than 7.5 lakh.

Here I am proving you the types of collateral security can be offered under education loan scheme in oriental bank of commerce .

1.LIC policy

2.KVP

3.FDR

And many other tangible security upto 100% equivalent of loan amount.

I would like to let you know that, LIC Policy is acceptable against Collateral Security under Oriental Bank of Commerce Education Loan Scheme to study MCA(H).
The collateral security can be in the form of land / building / Government Securities / Public Sector Bonds / NSC, KVP, LIC Policy, Gold, Shares/ Mutual Funds/ Bank Deposit in the name of the student / parent / guardian or any other third party or any other tangible security acceptable to the bank with suitable Margin.

Detailed information is available on;
https://www.obcindia.co.in/content/education-loan