Education Loan

  • Share Linkage - 2.5% of Sanctioned  Amount  and Guarantor – Minimum 10 Shares
  • Processing Fees  - 1% of loan amount + Service tax
  • Last 3 years Certified  I T Returns or Latest Salary Slip of Co-Borrower and Guarantor
  • Address and ID proof and 3 photos of Borrower , Co-Borrower and Guarantor
  • Advance Repayment accepted.
  • Personnel Guarantee – One Person
1. Quantam of loan Rs. 20.00 lacs for foreign education
Rs. 10.00 lacs for Indian education
2. Eligibility Criteria 1. Courses in Recognised by Institute for Higher Education
2. Accredited in foreign Institutes
3. Student Should be meritorious throughout education (i.e; should have secured 70% marks in all qualifying exams)
3. Rate of Interest For Male Students – 14% ( On Actual Diminishing Balance)
For Female Students – 13% ( On Actual Diminishing Balance)
4. Repayment Schedule Interest is to be serviced during Education and Installments should be paid from completion of education, With a EMI For 3-5 years
5. Security Any loan above 1.00 lac – Security should be Immovable Property
Co-Borrower Either of Parent shall be Co-Borrower.
Personnel Guarantee One Person

Loan EMI

Total Interest Payable

Total Payment
(Principal + Interest)

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