Must be an Indian National and age should be 15 to 30 years.
Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
Eligible Courses for Education Loan
Professional courses like Medical/Engineering/Veterinary/Nursing/Law/Management/PGDRIM/ ICWA/CA/CFA/IIM/ IIT/IISC/XLRI/NIFT and other courses approved by State/ Central Government.
All other courses leading to diploma/ degree etc., conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc., and offered by National Institutes and other reputed private institutions.
Quantum of Finance
Minimum of Rs. 10.00 lacs and maximum of Rs. 15.00 lacs for studying in India
Margin
Upto Rs.4,00,000/- -- NIL
Above Rs.4,00,000/- -- 5%
Studies in Abroad
Eligibility
Must be an Indian National and age should be 18 to 35 years.
Eligible Courses for Education Loan
Post graduation/technical courses like MCA, MBA, MS and PhD(Doctor of Philosophy) etc, offered by reputed universities.
Courses conducted by CIMA - London, CPA in USA etc.,
Quantum of Finance
Minimum of Rs. 20.00 lacs and maximum of Rs. 25.00 lacs for studies in abroad.
Margin
Upto Rs.4,00,000/- -- NIL
Above Rs.4,00,000/- -- 15%
Common aspects for Indian and Abroad studies
Security
Upto Rs.4.00 lacs - Coobligation of parents(No security)
Rs. 4.00 lacs to 7.5 lacs - Co-obligation of parents with collateral in the form of third party guarantee
Above Rs. 7.50 lacs - Coobligation of parents together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of instalments.
Holiday Period
1 year after course period or 6 months after getting job, whichever is earlier.
