Is collateral required for a student loan, and what are the ITR requirements if the loan is unsecured?

Collateral is generally not required for student loans up to ₹4 lakh in India. For loans between ₹4 lakh and ₹7.5 lakh, no tangible collateral is needed, but a third-party guarantor is usually required. Loans above ₹7.5 lakh typically require tangible collateral such as property or fixed deposits.

For unsecured loans, most lenders ask the co-applicant (often a parent or guardian) to provide Income Tax Returns (ITR) for the past 2 - 3 years to show proof of regular income. Requirements can vary by lender and are subject to change.