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If by any chance you loan exceeds 4 Lakhs, you will have to pay the bank a margin money which is usually 15% of the loan amount. But the amazing fact is that, they accept the scholarship money too as the margin money. For getting a loan to study abroad between Rs 4 to 7.5 lakhs, all you need is a guarantee of a third party but for loans over Rs 7.5 lakhs, you will have to provide the bank with an LIC policy or documents of immovable property you possess.
