Loan to meet expenses for higher studies by bright students
Loan Details
Loan to meet expenses for higher studies by bright students
Purpose
Education loans to students to pursue higher education from Educational Institutions approved by the Govt. recognized Universities in India and Abroad.
Eligibility
Students with bright academic career.
Nature of facility
Term Loan
Amount of Limit
1.Rs.10.00 lacs- Maximum for Education in India
2.Rs.20.00 lacs -Maximum for Education Abroad
Basis of Advance
Depending upon Guardian’s income, value of security, guarantee, study expenses including lodging, boarding and travel expenses.
Moratorium Period
From date of disbursement till completion of the study period. However, interest will have to be serviced by the guardian as and when applied.
Repayment Period
Upto 7 years (Inclusive of Moratorium Period).
Rate of Interest
Processing fees
As per policy of the Bank from time to time . At present NIL.
Shareholding/ Membership Contribution
2.50% of loan amount for limits of Rs.1.00 lac and above.
Security
As applicable and as acceptable to the Bank.
Guarantors
Suitable guarantors with good net worth and acceptable to the Bank
- * Conditions Apply - Please visit our branch for complete terms and conditions