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#1
3rd June 2018, 01:22 PM
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What is Collateral Security in SBI Education Loan scheme?
Hello, I am interested to apply for an education loan in SBI Bank. After searching alot I didn’t understand the term Collateral Security. Can I know about this Collateral Security of Education Loan in SBI Bank?
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#2
9th June 2018, 12:05 PM
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Re: What is Collateral Security in SBI Education Loan scheme?
Details of collateral security under SBI Education Loan Scheme are mentioned below :-
--> Upto Rs. 7.5 lakhs :- Parents/ guardian as Co-borrowers. No collateral security or third party guarantee is required. --> Above Rs. 7.5 lakhs :- Parents/ guardians to be joint-borrowers and tangible collateral security acceptable to bank. |
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#3
11th June 2018, 09:30 AM
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Re: What is Collateral Security in SBI Education Loan scheme?
The collateral security details of SBI Education Loan scheme are mentioned below :-
--> For loans upto Rs.7.5 lakhs :- Parents/ guardians needs to be joint-borrowers. No collateral security or third-party guarantee is required. --> For loans above Rs. 7.5 lakhs :- Parents/ guardians to be joint-borrowers. Tangible collateral security equal to loan amount acceptable to bank should be provided. |
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