Junior Science Refresher
How Loan
financing is done and what are the collateral requirement the acquire this loan
can be seen on the 23rd 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.
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