Education Loan

  • Eligibility
    • Meritorious student pursuing higher education in India/Abroad.
    • Any Graduation/P.G. level or Professional course, for Diploma or Degree of Govt. / Govt. approved institute in India & abroad.
    • Need bone finance subject to repaying capacity of parents/Students.
  • Rate of Intrest
  • Repayment Period
    • For loans (a) up to Rs.7.50 lakhs for India and (b) up to Rs. 15.00 lakhs for Abroad: The loan to be repaid in Maximum of 5-7 years after commencement of repayment.
    • For Loans (a) Above Rs. 7.50 lakhs for study in India and (b) above 15.00 lakhs for abroad: The loan to be repaid in Max of 5-10 years after commencement of repayment.
  • Proposal Processing Charge
    • NIL
    • Student applying for loan limit above Rs. 4 lakh should deposit Rs. 5000/- as sundry deposit. This will be forfeited if loan is not availed.
  • Margin
    Study in India :
    • Up to Rs. 4 lakhs : "NIL".
    • Above Rs. 4 lakhs : 5%
    Study Abroad
    • Up to Rs. 4 lakhs: "NIL".
    • Above Rs. 4 lakhs : 15 %
  • Max & Min Loan:
    • Study in India: Maximum Rs. 10.00 lakhs.
    • Study at Abroad: Maximum Rs. 20.00 lakhs.
  • Moratorium
    • Course period + 1 year or 6 month after getting job, whichever is earlier.
  • Security
    Study in India
    • Up to Rs. 4 lakhs : No Security
    • Above Rs. 4 lakhs but up to Rs. 7.50 lakhs: Collateral in form of a suitable T.P.G.
    • Above Rs. 7.50 but up to Rs. 10.00 lakhs: Collateral security for full value of Loan.
    Study Abroad
    • For Loan up to Rs. 4.00 lakhs : No Security
    • For Loan above Rs. 4.00 lakhs to Rs. 7.50 lakhs : Tangible Collateral in form of suitable T.P.G.
    • For Loan from Rs. 7.50 lakhs to Rs. 15.00 lakhs : Tangible Security in suitable form or suitable TPG.
    • Above Rs. 15.00 upto Rs. 20.00 lakhs : Tangible collateral security for full value of the Loan