While school and college fees are relatively low, it is not the case with higher studies, especially when it is pursued abroad. Hence banks and financial institutions provide educational loans to fund studies. These are special purpose loans that help the students cover the cost of pursuing a higher degree or some specialized courses. They are also referred to as Student loans.

How do you become eligible for Educational Loans?

Anyone seeking an educational loan from any bank of India has to have fulfilled the following three basic criteria:

• The person who is seeking the student loan has to be a citizen of India.
• The person should have got admission into a professional or technical course after giving an entrance test (or the selection process).
• He/she should have secured admission into a University in India or institution overseas.

Other qualifying criteria for Educational Loans

Anyone who does not fulfill these criteria but is between the age of 16 and 30 can still qualify for an

Generally, people accumulate assets to cocoon themselves in the safety net of financial security! However when a sudden need for funds arise and they need to borrow from a bank, they often neglect to utilize their assets to reduce the expense of their credit.

Right from education needs for your children to financing a business the first thing that would come to mind is, 'Where would I get the money from?'

One of the options available is taking a loan. You could take a personal loan for the amount required, or you could take a loan against your property.

What is a loan against property?

A loan against property (LAP) is exactly what the name implies — a loan given or disbursed against the mortgage of property. The loan is given as a certain percentage of the property's market value, usually around 40% - 60%. Loan against Property belongs to the secured loan category where the borrower provides a guarantee by using his property as security.

The borrower can either opt for an overdraft

Insurance against natural calamity has not got its due in India because of lack of awareness. However, as we observe incidents around the world and in our country, we understand the necessity of being insured for it!

Insurance against natural calamities is not a separate product but is included with home, auto, and business insurance.

What is covered?

Usually, insurance covers against natural calamities involve the following:
•    Fire
•    Explosion & implosion
•    Earthquake
•    Lightning
•    Storm, cyclone, tempest, tornado, hurricane, flood & inundation
•    Subsidence, landslides and rockslides

Despite the fact that insurance companies claim to have covered all risks under comprehensive insurance policies, you have to keep your eyes open as the coverage will change as per the  type and the features of the policy.

You should read specifically the exclusion and inclusion section of your insurance policy carefully. Does it cover floods, earthquake, Tsunami, and other natural