Education and Career Forum

I am in a need of education loan so that I can get admission and study MBA. I am going to apply an Education Loan in Karnataka Bank Ltd. So, kindly tell me what kind of securities they want to take for taking an education loan?

Securities against an Education Loan in Karnataka Bank Ltd to study MBA;

Up to Rs. 7.5 lakh(covered under CGFSEL), there is no security.

Above Rs. 4.0 lakh and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee.

Above Rs. 7.50 lakh: Collateral security equal to the loan amount/suitable third party guarantee along with the assignment of future income of the student for payment of installments.

For more details, visit:
https://karnatakabank.com/personal/loans/vidya-nidhi

Securities against an education loan in Karnataka Bank Ltd to study MBA course are mentioned below:-

—> Loan upto Rs. 7.5 lakhs (covered under CGFSEL): No security
—> Loan above Rs. 4 lakhs and upto Rs. 7.50 lakhs: Collateral security in the form of a suitable third party guarantee.
—> Loan above Rs. 7.50 lakhs: Collateral security of suitable value /suitable third party guarantee along with the assignment of future income of the student.