Current Affairs · Banking and Financial Schemes
Under the IBA Model Education Loan Scheme for higher studies abroad with a loan requirement above Rs 7.5 lakh, which of the following regulatory and scheme guidelines applies?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Loans up to Rs 40 lakh for studies abroad are covered under credit guarantee scheme without collateral.
- 2The moratorium period is strictly equal to the course duration, and interest must be paid monthly during the study period.
- 3Tangible collateral security of suitable value is required along with co-obligation of parents, with a margin requirement of generally 15%.✓
- 4No collateral security is required for Ivy League admissions and the margin requirement is 0%.
Correct answer
Tangible collateral security of suitable value is required along with co-obligation of parents, with a margin requirement of generally 15%.
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