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
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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

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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

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