I have taken an Education Loan of Rs.4.00 lacs from a Nationalised Bank for Hi

I have taken an Education Loan of Rs.4.00 lacs from a
Nationalised Bank for Higher of my son during last year,
Now I again want an Education Loan for my daughter for
Rs.3.00 lacs from the same Bank. Now Bank is asking for
additional security By way of guarantee or mortgage of
House.Please tell me whether it is necessary to give
guarantee or collateral security for taking Education loan
for my second child?

Question Posted / m k verma

4 Answers
5230 Views
I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

I have taken an Education Loan of Rs.4.00 lacs from a Nationalised Bank for Higher of my son durin..

Answer / anand kumar

ITS NECESSARY

Is This Answer Correct ?

8 Yes

0 No

I have taken an Education Loan of Rs.4.00 lacs from a Nationalised Bank for Higher of my son durin..

Answer / ashish mittal

It is not necessary take loan for second child

Is This Answer Correct ?

2 Yes

0 No

I have taken an Education Loan of Rs.4.00 lacs from a Nationalised Bank for Higher of my son durin..

Answer / kartik sharma

it may or may not be neccessary to give new security ...
if the old securities that has been given covers the
additional loan then you need not to give new securities
but it does not cover in that case you have to provide with
the additional securities

Is This Answer Correct ?

2 Yes

0 No

I have taken an Education Loan of Rs.4.00 lacs from a Nationalised Bank for Higher of my son durin..

Answer / gaurav laddha

Yes,becoz according to the bank education loan upto 4 lac
requires no security but now in this case we are exceeding
this amnount by rs 3 lac so mortgage is required

Is This Answer Correct ?

1 Yes

1 No

Post New Answer

More Banking Finance Interview Questions

Explain the source of income for niacl?

0 Answers

What is Pradhan Mantri Suraksha Bima Yojana?

0 Answers State Bank Of India SBI,

What are various government schemes started by the government for youth employment?

0 Answers State Bank Of India SBI,

Walk me through a DCFâ€¦

0 Answers

hi,i am mba finance student in 3 rd sem.how to i prepare for interview,i m intersted to banking sector.so which post i will get in campus selaction.

5 Answers HDFC, Nagarjuna Fertilizers,

What are the main functions of rbi?

0 Answers

What do you know about Green Channel?

0 Answers IBPS,

Why do you choose banking as your career?

0 Answers Nabard,

What is Call money rate?

0 Answers

What are the common mistake made in Invest ment?

2 Answers TCS,

How is an investment decision different from a financing decision?

5 Answers

Consider the following data for a particular period: Portfolio (P) market (M) ---------------------------------------------------- ----- Average return 35 % 28 % Beta 1.2 1.0 Standard deviation 4.2 % 30 % Non-systematic risk 18 % ---- Calculate the following performance measures for portfolio (P) and the market (M) by using Sharpe, Jensen and Treynor methods. The T-bill rate during the period was 6 % by which measures did portfolio P outperform the market $

1 Answers

For more Banking Finance Interview Questions Click Here