Education Loan

  • Eligibility
    • Indian national Meritorious student pursuing higher education (for approved courses) in India/Abroad.
  • Purpose
    • Education purpose to Indian National Student.
  • Quantum of finance
    • Study in India : Maximum Rs. 10.00 lakh.
    • Study at Abroad : Maximum Rs. 20.00 lakh.
  • Margin
    • Study in India : Loan up to 4.00 lakh : No Margin, Loan above 4.00 lakh: 5%
    • Study at Abroad : Loan up to 4.00 lakh : No Margin, Loan above 4.00 lakh: 15%
  • Security
    • Co-obligation of parents +
    • Study in India:
    • Loan up to 7.50 lakh : No Security or TPG
    • Loan above 7.50 lakh: Tangible collateral security for full value of the loan.
    • Study Abroad:
    • Loan up to 4.00 lakh : No Security
    • Loan above 7.50 lakh to 15.00 Lakh : Tangible collateral Security of suitable value or suitable Third Party Guarantee along with the assignment of future income of the student for payment of installments
    • Loan above 15.00 lakh: Tangible collateral security for full value of the loan.
  • Repayment Period
    • The loan to be repaid in a maximum of 15 years after commencement of repayment.
  • Moratorium
    • Duration of the course + 12 months period after completion of the course.
  • Rate of Interest
  • Processing Charge/Upfront Fee
  • Disclaimer:"Kindly contact the nearest branch for more details".