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
6.	Co-Borrower	Either of Parent shall be Co-Borrower.
7.	Personnel Guarantee	One Person

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