Is security needed for education loan of 12+ Lacs for MBA?

Education loans are generally secured loans that require collateral or a guarantor. The requirement of collateral or guarantor may vary depending on the lender, the loan amount, and the creditworthiness of the borrower. For education loans of 12+ lacs for MBA, it's likely that the lender will require some form of collateral or guarantor. Collateral can be in the form of property, fixed deposits, or other assets. A guarantor can be a parent, spouse, or any other individual who has a good credit score and is willing to take the responsibility of repaying the loan in case the borrower is unable to do so. It's important to note that the terms and conditions of education loans can vary significantly between different lenders. Therefore, it's recommended that you do your research and compare the loan offers from different lenders to find the one that best meets your needs. Additionally, it's important to carefully read the terms and conditions of the loan agreement before signing it. This will help you understand the repayment terms, interest rates, and any other charges associated with the loan.

0 Upvotes 0 Upvotes 0 Downvotes

• • Report Abuse
• Comment