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 |
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6.
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Co-Borrower | Either of Parent shall be Co-Borrower. |
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7.
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Personnel Guarantee | One Person |
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Loan EMI
Total Interest Payable
Total Payment
(Principal + Interest)