Graduation, Post-graduation and professional courses from recognized universities.
Diploma and technical courses from reputed universities.
Expenses considered for Education Loan
Fee payable to college/school/hostel
Payment of course fees
Purchase of books/equipments/instruments/uniforms and computer/laptops
Examination/Library/Laboratory fee
Other expense that are required to complete the course - like study tours, project work, thesis, etc.
Quantum of Finance
Need based finance from Rs.0.50 lacs to Rs.25.00 lacs.
Margin
Upto Rs.25,00,000/- -- NIL
Studies in Abroad
Eligibility for Education Loan
Must be an Indian National.
Must provide a valid passport and visa
Eligible Courses for Education Loan
Graduation : For job oriented professional / technical courses offered by reputed universities
Post-Graduation - MCA, MBA, MS, PhD etc.
Courses conducted by CIMA-London, CPA in USA etc.
Quantum of Finance
Need based up to a maximum of Rs. 25.00 lacs
Margin
Upto Rs.25,00,000/- -- 10%
Common aspects for Indian and Abroad studies
Security
Upto Rs.1.00 lacs - Personal guarantee of two persons with Basic pay of Rs.5000/-
Above Rs. 1.00 Lacs : Collateral security is needed (if immovable property – 200% of the limit is required).
Repayment
Monthly / periodical interest during the holiday period to be serviced and Balance at the end of the course to be repaid in equal monthly installments. And repayment should begin when the student secures employment or within 12 months after the completion of the course, whichever is earlier.
