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 |
