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Education Loan - Collateral
3 years ago
I urgently need an education loan, but the only collateral I can provide is a non-agricultural plot without any building. Is there a bank or a way I can keep this as a collateral.
A.Dear Sir,
You must be in good books of bankers.
You must be in good books of bankers.
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Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.how much amount ?
for education loan in India the amount will not be too much so upto 4 lakhs, bank may not ask collateral.
for education loan in India the amount will not be too much so upto 4 lakhs, bank may not ask collateral.
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A.Yes, there are various banks giving education loan,, the current place can also be as a collateral. Require more details on INCOME SOURCE by other family members, it can be done .
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ADV. ANISH PALKAR (High Court)
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ADV. ANISH PALKAR (High Court)
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A.Hi,
According to the guidelines, loans up to Rs. 4 lakhs may be taken without collateral, however when the loan sum exceeds that, there is a requirement for collateral and a third-party guarantee, which in most cases is the student's parents. Government banks, such as SBI and Bank of Baroda, are the most popular providers of collateral education loans.
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According to the guidelines, loans up to Rs. 4 lakhs may be taken without collateral, however when the loan sum exceeds that, there is a requirement for collateral and a third-party guarantee, which in most cases is the student's parents. Government banks, such as SBI and Bank of Baroda, are the most popular providers of collateral education loans.
If you find this answer helpful, please rate my answer. Thank You.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
The most famous providers of collateral education loans are government banks like SBI and Bank of Baroda. According to the guidelines, loans up to Rs. 4 lakhs may be taken without collateral; however, when the loan amount exceeds that, collateral and a third-party guarantee, which is usually the student's parents, are required.
If you find this answer helpful, please rate my answer. Thank You.
The most famous providers of collateral education loans are government banks like SBI and Bank of Baroda. According to the guidelines, loans up to Rs. 4 lakhs may be taken without collateral; however, when the loan amount exceeds that, collateral and a third-party guarantee, which is usually the student's parents, are required.
If you find this answer helpful, please rate my answer. Thank You.
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