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.
Eligible Courses for Education Loan
Post graduation/technical courses offered by reputed universities like MCA, MBA, MS and PhD(Doctor of Philosophy) etc.
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
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.
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.
