can i get loan without security, provided that i could keep my certificates.

Question : can i get loan without security, provided that i could keep my certificates.

Answer 1: Educational certificates are not considered as security to secure educational loan. You can take loan against insurance policy, FDRs etc. You have to keep some co-lateral security if you are taking loan above Rs.4 lac. You don’t need to keep any security if you are applying for a loan of Rs.4 lac or less than that but banks normally expect that borrowers have some minimum financial ability (i.e., regular income, fixed assets etc.), to secure a minimum loan amount. PUNJAB NATIONAL BANK Educational Loan Scheme: Security: i) Upto Rs 4.00lac: No security. ii) Above Rs4lac and Upto Rs 7.5 lacs: Collateral in the form of a suitable 3rd party guarantee. iii) Above Rs 7.5 lacs: Collateral Security of Suitable value or suitable 3rd party guarantee. Loans can be provided against non-encumbered residential house/flat or commercial or industrial property (in the shape of building/industrial shed) self occupied or vacant.