Education Loan

Education Loan

Term Loans for Education purposes for providing financial support to students for pursuing higher education in India and abroad. 
 

Maximum Amount	Rs. 25,00,000.00.
Repayment Period	Maximum 120 EMI.
Interest Rate	Please refer ‘Interest Rates’ on this site.

Note :- The interest shall be charged 1% less of the applicable rate, if the student happens to be a girl.

1. Studies in India: 

Graduation / Post Graduation / Professional courses conducted by colleges / universities approved by UGC / Govt. / AICTE or any other reputed / recognized institution.

2. Studies in abroad: 

Graduation: in professional / technical courses or Post graduation: MCA, MBA, MS etc. or as offered by universities / schools

Expenses Covered under Loan 

• Fee payable to college / school and hostel charges 
• Purchase of books / equipments
• Other charges if any, supported by bills / receipts.  

Terms & Conditions:-

• One of the parents / guardian of the applicant or student shall have to be a co-applicant.
• The applicant shall be required to furnish security in the form of property, which should be registered in the names either of his / her parents / guardian. Such property holder shall have to be the co-applicant or one of the sureties / guarantor in the loan.
• Bank may also accept other securities having adequate value such as LIC Policies, NSCs, or any other security as the Bank find appropriate.
• A minimum 20% of the course fee and /or other charges shall be borne by the applicant.