What are the conditions for a co-applicant and collateral to be approved for an education loan?

For a co-applicant and collateral to be approved for an education loan, the co-applicant must typically be a close family member, such as a parent or guardian, with a stable income and a good credit history. Banks will require income proof, tax returns, and bank statements from the co-applicant. As for collateral, it can be immovable property, fixed deposits, or other financial assets. The bank will assess the value of the collateral before approving the loan. In general, loans above 7.5 lakhs require collateral, and the collateral value should match or exceed the loan amount.