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 Karur Vysya Bank. So, kindly tell me what kind of securities they want to take for taking an education loan?

Securities against an Education Loan in Karur Vysya Bank to study MBA are as follows.

Loan amount up to Rs. 4 Lacs: No security required and your parents will sign as co applicants.

Loan amount above Rs. 4 lacs and up to Rs. 7.50 lacs: Your parent(s) will sign as co applicant(s) and a third party guarantee is to be required as collateral security.

Loan amount above Rs. 7.50 lacs: Parents will join as co applicants and tangible collateral security of relevant value subject to assignment of student’s future income from employment as loan security is required.