Security |
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Up to Rs. 4.00 Lakh : Co-obligation of Parent/s, Grand Parent/s ( if parents are deceased). No other security.
* Above Rs. 4.00 Lakh & up to Rs. 7.50 Lakh : Co obligation of Parent/s Grand Parent/s (if parents are deceased) together with collateral in the form of suitable third party guarantee.
* Above Rs. 7.50 Lakh : Co-obligation of Parents/Grand Parents ( if Parents are deceased) together with tangible collateral security along with the assignment of future income of the student for payment of instalments. The loan to be fully secured after maintaining prescribed margin on respective securities.
* In case of married person, co obligant can be either spouse, or the parents or parents -in-law. |
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