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  #1  
3rd October 2017, 03:53 PM
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Possibility to get education loan in security of fixed deposit of relatives with their consent? Terms and conditions for it?


Sir, My uncle has a fixed deposit of 6 lakh in Axis Bank for five years. I want to know can I get education loan in security of the fixed deposit of my uncle with the consent of him? Terms and condition for it?




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  #2  
6th October 2017, 08:09 PM
ajayrocks007
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Join Date: Mar 2012
Location: New Delhi
Posts: 20,581
Default Re: Possibility to get education loan in security of fixed deposit of relatives with their consent? Terms and conditions for it?

Education loan is given with proper security and presence of a guarantor is definitely required. If a guarantor is willing to give his consent for education loan and FD deposit as security, then banks will take all the original documents related to it.

All those original documents will be released only when you pay back your education loan. If you fail to do so, then will recover that amount from deposits.
Do you have any question? or have anything to say?



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