Junior Science Refresher

How Loan financing is done and what are the  collateral requirement the acquire this loan can be seen on the 23^rd page of Junior science magazine            

bright group of publications juniorscience refresher The banks can finance up to 100% of the loan depending on the amount. Currently, for loan up to Rs 4 lakh, there is no margin money required. bright group of publications juniorscience refresher For studies in India, 5% of the iequired money has to be financed by the applicant. On the other hand, for studies overseas, the required margin money increases to 15%.

Juniorscience refresher magazine The banks also ask for collateral for loans above Rs 7.5 lakh. Presently, the banks do not ask for any collateral or third-party guarantee for loan up to Rs 4 lakh. For loans above Rs 4 lakh up to Rs 7.5 lakh, a third-party guarantee is required. Junior sciencerefresher magazine A collateral is asked for loan exceeding Rs 7.5 lakh.  Once the loan application is accepted, the banks disburse the amount directly to the college/university as per the given fees structure.