InvestorQ : Do all education loans require a third-party guarantee?
Gauravi Patel made post

Do all education loans require a third-party guarantee?

Answer
user profile image
Anusha Savla answered.
1 year ago


No. All education loans do not require a third-party guarantee.

Banks and non-banking finance companies (NBFCs) 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.

Thus, a collateral is asked for loan exceeding Rs 7.5 lakh.