Consider the following statements, choose the correct option :
1. A personal loan is the type of secured loans.
2. Education loans disbursed by the banks under the model education loan scheme of Indians Bank Association, banks disbursed upto the Rs.5 lakh collateral free without providing any third party guarantee.
1
Statement(1) is true.
2
Statement (2) is true.
3
Both the statements are true.
4
None is true.
5
Statement(1) is true but (2) is false.