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
Maximum of Rs. 10.00 lacs for studies in India
Margin
Upto Rs.4,00,000/- -- NIL
Above Rs.4,00,000/- -- 5%
Studies in Abroad
Eligibility
Must be an Indian National.
Eligible Courses for Education Loan
Secured admission to job oriented Post graduation/technical courses offered by reputed universities
Quantum of Finance
Maximum of Rs. 20.00 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 - No security
Above Rs. 4.00 lacs - Collateral security equivalent to the loan Amount or in the form of land & building, Govt. Securities/LIC policies/NSC etc.
Holiday Period
1 year after course period or 6 months after getting job, whichever is earlier.
Rate of Interest
Upto 7.50 lakhs -- For Boys - 12.00% and for Girls - 11.50%
Above 7.50 lakhs -- For Boys - 12.50% and for Girls - 12.00%
