Can I use collateral like fixed deposits or property to secure an education loan for visa purposes?

Yes, you can use collateral such as fixed deposits or property to secure an education loan, which is often helpful for visa purposes. Lenders typically require collateral for larger loan amounts, especially for studying abroad.

- Fixed Deposits: You can pledge an FD by providing the certificate and a lien letter to the lender.
- Property: Residential or commercial property can be used, usually requiring ownership documents and tax receipts.

Collateral can help you qualify for higher loan amounts and may strengthen your student visa application by showing financial stability. Lender requirements and accepted collateral types vary and are subject to change. For specific guidance, please connect with your LeapScholar counsellor.