Education Loan

Higher Education

* "Conditions Apply. Loan at sole discretion of the Bank." SMS 'Loan' to 70659 66665

Repayment Tenure:

For loans upto Rs. 5.00 lakh - Repayment period upto 8 years including moratorium period

For loans above Rs.5.00 lakh - Repayment period upto 10 years including moratorium period

Margin :

Loan Upto Rs. 4 lakhs - Nil

Above Rs. 4 lakhs

Studies in India - 5%

Studies Abroad - 15%

Maximum Loan Amount Limit :

Max. Rs. 35.00 lacs

* To consider the quantum of finance stream wise /institution wise

Eligibility :

Higher education

Security : Loan Upto Rs.5.00 lacs: Nil

Loan Above Rs.5.00 lacs: 100% Collateral security by way of FDR, NSCs (face value), LIC (surrender value), Govt. Bonds, Mortgage of property (residential flat/gala) etc.

Security to be in the name of borrower/s and/or guarantor/s.

Guarantors : One competent guarantors acceptable to Bank

Subscription to Bank's Share - Membership:

1 - Loan upto 5 lacs (unsecured) – 5% of loan amount.

2 - Loan above 5 lacs (secured) – 2.5% of loan amount.

Processing fee : NIL

1. Loan Application Form in prescribed format.

2. One passport size photograph .

3. Address Proof

4. Identity Proof

5. Salary/Income details of parents/ students(if any)

6. Necessary Admission Documents and Academic Record Proof

7. Net worth forms

8. Attested photocopies of mark-sheet of X, XII and/or qualify examination, School/college
leaving cert.etc.

9. Certificate/Proof from college/institution about admission to the course which loan is
required.

10. Documentary proof from college/institution about duration of course and eligible
expenses to be incurred

11. Any other documents required by the Bank.

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