Eligibility
Student should be an Indian National and should have secured admission to the relevant Professional/ Technical courses in India or Abroad through Entrance Test/ Merit Based Selection process.
Courses Eligible
A) Studies in INDIA
Graduation courses : BA, B.Com., B.Sc., etc.
Post Graduation courses : Masters & Phd.
Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Computer certificate courses of reputed institutes accredited to Dept., of Electronics or institutes affiliated to University.
Courses like ICWA, CA, CFA etc.
Courses conducted by IIM, IIT, IISc, XLRI.NIFT etc.
Professional courses with ICFAI National College.
Coursed offered by M/s. Frankfinn Institute of Air Hostess.
Pilot Training Programme. (Government or recognized private institute approved by Director General of Civil Aviation, Government of India).
Courses offered in India by reputed foreign universities.
Evening courses of approved institutes.
Other courses leading to diploma/ degree etc, conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ AIBMS/ ICMR etc.
Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.
Studies Abroad
Graduation: For job oriented professional / technical courses offered by the reputed university.
Post graduation: MCA, MBA, MS, etc.
Courses conducted by CIMA-London, CPA in USA, etc.
Pilot Training Programme offered by recognized institutions abroad approved by competent authority in that country. Example in USA the Federal Aviation Administration, Government of USA.
The licences issued by such institutions should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General of Civil Aviation, Government of India.
Expenses Considered for Loan
Fee payable to college/ school/ hostel.
Examination/ Library/ Laboratory fee.
Purchase of books/ equipments/ instruments/ uniforms.
Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
Travel expenses/ passage money for studies abroad.
Purchase of computers – essential for completion of the course.
Any other expense required to complete the course – like study tours, project work, thesis etc.
Issuance of DD favouring CET Cell
Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.
Loan Amount
Studies in India : Maximum Rs.10.00 lakhs
Studies abroad : Maximum Rs.20.00 lakhs
Margin
Upto Rs.4 lakhs : NIL
Above Rs.4 lakhs : Studies in India : 5 %
Studies Abroad : 15 %
Scolarship / Assistantship to be included in the margin. Margin can be brought in as and when disbursements are made on prorata basis.
Rate of Interest
with effect from 01.07.2008: [BPLR = 13.25%]
Amount Slab Rate of interest per annum - Floating
Upto Rs. 4 lakhs 11.75 % [BPLR - 1.5%]
Above Rs. 4 lakhs 11.75 % [BPLR - 1.5%]
Additional conditions applicable for online education loan applications
1. Loan considered for Professional Courses only.
2. Bank is not responsible for non-receipt of any reply from the Bank due to wrong e-mail ID submitted by the applicant.
3. Only those applicants whose place of domicile / permanent address is not exceeding ‘10’ Km radius to the nearest branch of Vijaya Bank should apply.
4. The applicant to purchase a DD / PO of Rs.500.00 favouring Vijaya Bank, preferably from the same branch where the education loan is to be availed by the applicant.
For more Details : www.vijayabank.com
Union Bank of India Education Loan
UNION EDUCATION
OBJECTIVE & PURPOSE
The scheme aims at providing financial assistance on reasonable terms:
To the poor and needy students that they may undertake basic education
To meritorious students that they may pursue higher or professional or technical education
ELIGIBILITY
The student applying for UNION EDUCATION Loan ought to:
Be an Indian National
Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process
Has secured admission to a foreign University
Has passed an appropriate qualifying examination
Studies in India
School education up to +2
Graduation/Post-Graduation
Professional course
Management course
Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/IIMs/ /NIT XLRI/BITS/VIT/IISc/S.P. Jain Institute Of Management/Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science.
Studies Abroad :
Graduation: For job-oriented professional or technical courses offered by reputed universities
Post-Graduation: MCA, MBA, MS and such other courses
Courses conducted by CIMA, London, CPA, USA., and such other institution
PURPOSE
To the poor and needy students to undertake basic education
To meritorious students to pursue higher or professional or technical education
CONDITIONS
The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students.
The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.
Loan will be disbursed directly to the college/institute.
Student to produce mark list of previous term/semester before availing next installment.
Student /Parent to provide latest mailing address before availing next installment.
In case of parents with transferable job, new address to be provided before availing installments.
QUANTUM OF LOAN
Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings
For studies in India - Up to Rs. 10 lacs
For studies abroad - Up to Rs. 20 lacs
MARGIN
No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.
Scholarship/assistance to be included in margin.
Margin maybe brought in on pro-rata basis as and when disbursement is made.
REPAYMENT
Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.
RATE OF INTEREST(w.e.f 01/07/2008)
For Male Student :
Up to Rs. 4.00 lakhs : 11.75% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.50% (Fixed)
Above Rs. 7.50 lakhs : 12.00% (Fixed)
For Female Student:
Up to Rs. 4.00 lakhs : 11.25% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.00% (Fixed)
Above Rs. 7.50 lakhs : 11.50% (Fixed)
For Special Education Loan Scheme :
Special scheme For IIM students : 10.50% for Male
: 10.25 % for Female
Special Scheme IIT/NIFT students: 10.50% for male
: 10.25% for Female
Special Scheme for XLRI.BITS/VIT/IISC/SYMBOISIS/SP JAIN/NIT : 11.00%
Special Scheme for students of ISB(Indian School of Business) only
for Hyderabad : 9.50% for male
: 9.25% for Female
Special scheme for students of Asian Institute of Management : 11.00%
Simple interest will be calculated during repayment holiday/moratorium period.
Interest rate is fixed and will not undergo any change till the loan amount is repaid in full.
PROCESSING CHARGES
NIL
SECURITY
No collateral security is needed for loans up to Rs. 7.50 lacs. However, for loans above this amount, collateral security of suitable value, along with co-obligation of parents/guardian/third party, accompanied by an assignment of future income of the student for payment of installments is required.
A Life insurance policy from Insurance company for a sum not less than the loan amount is required to be taken in the name of the student and duly assigned in favour of Union Bank.
OTHER CONDITIONS
Loans can be considered for eligible students in case they approach the Bank in the subsequent year of the commencement of the course.
Branches can issue Bank Guarantee, for payment seats wherever required.
No Prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions
For more Details : www.unionbankofindia.co.in
OBJECTIVE & PURPOSE
The scheme aims at providing financial assistance on reasonable terms:
To the poor and needy students that they may undertake basic education
To meritorious students that they may pursue higher or professional or technical education
ELIGIBILITY
The student applying for UNION EDUCATION Loan ought to:
Be an Indian National
Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process
Has secured admission to a foreign University
Has passed an appropriate qualifying examination
Studies in India
School education up to +2
Graduation/Post-Graduation
Professional course
Management course
Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/IIMs/ /NIT XLRI/BITS/VIT/IISc/S.P. Jain Institute Of Management/Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science.
Studies Abroad :
Graduation: For job-oriented professional or technical courses offered by reputed universities
Post-Graduation: MCA, MBA, MS and such other courses
Courses conducted by CIMA, London, CPA, USA., and such other institution
PURPOSE
To the poor and needy students to undertake basic education
To meritorious students to pursue higher or professional or technical education
CONDITIONS
The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students.
The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.
Loan will be disbursed directly to the college/institute.
Student to produce mark list of previous term/semester before availing next installment.
Student /Parent to provide latest mailing address before availing next installment.
In case of parents with transferable job, new address to be provided before availing installments.
QUANTUM OF LOAN
Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings
For studies in India - Up to Rs. 10 lacs
For studies abroad - Up to Rs. 20 lacs
MARGIN
No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.
Scholarship/assistance to be included in margin.
Margin maybe brought in on pro-rata basis as and when disbursement is made.
REPAYMENT
Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.
RATE OF INTEREST(w.e.f 01/07/2008)
For Male Student :
Up to Rs. 4.00 lakhs : 11.75% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.50% (Fixed)
Above Rs. 7.50 lakhs : 12.00% (Fixed)
For Female Student:
Up to Rs. 4.00 lakhs : 11.25% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.00% (Fixed)
Above Rs. 7.50 lakhs : 11.50% (Fixed)
For Special Education Loan Scheme :
Special scheme For IIM students : 10.50% for Male
: 10.25 % for Female
Special Scheme IIT/NIFT students: 10.50% for male
: 10.25% for Female
Special Scheme for XLRI.BITS/VIT/IISC/SYMBOISIS/SP JAIN/NIT : 11.00%
Special Scheme for students of ISB(Indian School of Business) only
for Hyderabad : 9.50% for male
: 9.25% for Female
Special scheme for students of Asian Institute of Management : 11.00%
Simple interest will be calculated during repayment holiday/moratorium period.
Interest rate is fixed and will not undergo any change till the loan amount is repaid in full.
PROCESSING CHARGES
NIL
SECURITY
No collateral security is needed for loans up to Rs. 7.50 lacs. However, for loans above this amount, collateral security of suitable value, along with co-obligation of parents/guardian/third party, accompanied by an assignment of future income of the student for payment of installments is required.
A Life insurance policy from Insurance company for a sum not less than the loan amount is required to be taken in the name of the student and duly assigned in favour of Union Bank.
OTHER CONDITIONS
Loans can be considered for eligible students in case they approach the Bank in the subsequent year of the commencement of the course.
Branches can issue Bank Guarantee, for payment seats wherever required.
No Prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions
For more Details : www.unionbankofindia.co.in
Syndicate Bank - SyndVidyarthi Education Loan
Purpose :
To meet the recurring expenses of contingent nature that may have to be incurred by students pursuing professional courses
Eligibility
1) Students of 18 years and above of age pursuing professional courses
2) All professional and management courses listed in our educational loan scheme would be eligible for coverage
3) Coverage under this scheme can be provided to all eligible students irrespective of whether or not they have availed an Education Loan from our Bank / other banks.
Quantum
Not exceeding Rs.10000/-
Nature of facility
Overdraft subject to renewal every year
Security
Unsecured
Rate of Interest
PLR of the Bank
Surety
No surety to be obtained. However a letter the format provided is to be addressed to the parent / guardian of the student informing him of the Bank’s intention to sanction SyndVidyarthi facility and requesting him / her to give consent for the same. The facility is to be made available only on receipt of the consent from the parent / guardian.
Repayment
While the whole or part of the limit of Rs.10000 may be availed through a single withdrawal or multiple withdrawals on different dates, the account should be brought to credit once a year
The entire outstanding in the account is to be cleared three months before completion of studies
Processing Fees
No processing fees
For more Details : www.syndicatebank.in
To meet the recurring expenses of contingent nature that may have to be incurred by students pursuing professional courses
Eligibility
1) Students of 18 years and above of age pursuing professional courses
2) All professional and management courses listed in our educational loan scheme would be eligible for coverage
3) Coverage under this scheme can be provided to all eligible students irrespective of whether or not they have availed an Education Loan from our Bank / other banks.
Quantum
Not exceeding Rs.10000/-
Nature of facility
Overdraft subject to renewal every year
Security
Unsecured
Rate of Interest
PLR of the Bank
Surety
No surety to be obtained. However a letter the format provided is to be addressed to the parent / guardian of the student informing him of the Bank’s intention to sanction SyndVidyarthi facility and requesting him / her to give consent for the same. The facility is to be made available only on receipt of the consent from the parent / guardian.
Repayment
While the whole or part of the limit of Rs.10000 may be availed through a single withdrawal or multiple withdrawals on different dates, the account should be brought to credit once a year
The entire outstanding in the account is to be cleared three months before completion of studies
Processing Fees
No processing fees
For more Details : www.syndicatebank.in
Syndicate Bank - SyndVidyarthi Education Loan
Purpose :
To meet the recurring expenses of contingent nature that may have to be incurred by students pursuing professional courses
Eligibility
1) Students of 18 years and above of age pursuing professional courses
2) All professional and management courses listed in our educational loan scheme would be eligible for coverage
3) Coverage under this scheme can be provided to all eligible students irrespective of whether or not they have availed an Education Loan from our Bank / other banks.
Quantum
Not exceeding Rs.10000/-
Nature of facility
Overdraft subject to renewal every year
Security
Unsecured
Rate of Interest
PLR of the Bank
Surety
No surety to be obtained. However a letter the format provided is to be addressed to the parent / guardian of the student informing him of the Bank’s intention to sanction SyndVidyarthi facility and requesting him / her to give consent for the same. The facility is to be made available only on receipt of the consent from the parent / guardian.
Repayment
While the whole or part of the limit of Rs.10000 may be availed through a single withdrawal or multiple withdrawals on different dates, the account should be brought to credit once a year
The entire outstanding in the account is to be cleared three months before completion of studies
Processing Fees
No processing fees
For more Details : www.syndicatebank.in
To meet the recurring expenses of contingent nature that may have to be incurred by students pursuing professional courses
Eligibility
1) Students of 18 years and above of age pursuing professional courses
2) All professional and management courses listed in our educational loan scheme would be eligible for coverage
3) Coverage under this scheme can be provided to all eligible students irrespective of whether or not they have availed an Education Loan from our Bank / other banks.
Quantum
Not exceeding Rs.10000/-
Nature of facility
Overdraft subject to renewal every year
Security
Unsecured
Rate of Interest
PLR of the Bank
Surety
No surety to be obtained. However a letter the format provided is to be addressed to the parent / guardian of the student informing him of the Bank’s intention to sanction SyndVidyarthi facility and requesting him / her to give consent for the same. The facility is to be made available only on receipt of the consent from the parent / guardian.
Repayment
While the whole or part of the limit of Rs.10000 may be availed through a single withdrawal or multiple withdrawals on different dates, the account should be brought to credit once a year
The entire outstanding in the account is to be cleared three months before completion of studies
Processing Fees
No processing fees
For more Details : www.syndicatebank.in
State Bank of India Schloar Loan
SCHOLAR LOANS
Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate < /FONT>
1.5% below SBAR effective rate 11.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
For more Details : www.statebankofindia.com
Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate < /FONT>
1.5% below SBAR effective rate 11.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
For more Details : www.statebankofindia.com
State Bank of India Schloar Loan
SCHOLAR LOANS
Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate
1.5% below SBAR effective rate 11.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
For more Details : www.statebankofindia.com
Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount
Maximum loan amount upto Rs.15 lacs
Expenses covered
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate
1.5% below SBAR effective rate 11.25% p.a. (floating)
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
For more Details : www.statebankofindia.com
State Bank of Travancore Education Loan
Gyan Jyothi Education Loan
The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad
PURPOSE
To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\purchase of Computers\equipments\instruments\uniforms and the cost of passage for studies abroad. Any other expenses required to complete the course like study, tours, project work, thesis etc. also be financed.
ELIGIBLE COURSES
Studies in India
a. Graduation courses, BA, B.Com, B.Sc etc.
b. Post Graduation Courses, Masters and Ph D.
c. Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
d Other courses leading to diploma, degree etc.
e. Courses offered by National Institutes and other reputed private institutions.
f. Evening courses of approved institutions.
g. Courses offered in India by reputed foreign universities.
h. Computer Certificate courses of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.
i. Courses like ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
j. Graduate courses in Nursing studies.
Studies abroad
Graduation: For job oriented professional\technical courses offered by reputed universities.
Post graduation: MCA, MBA, MS etc.
Courses conducted by CIMA – London, CPA in USA.
PERSONS ELIGIBLE
The student should be an Indian National and
i) have secured admission to professional\technical courses through entrance test\ merit based selection process.
ii) have secured admission to foreign university institution.
BORROWER : Student and parent\guardian jointly.
In the case of employed students\professionals, loans can be granted in individual names, with suitable guarantee.
LOAN Amount:
For studies in India Rs. 10 lacs
For studies abroad Rs. 20 lacs
MARGIN
Upto Rs. 4 lacs - Nil
Above Rs.4 lacs - i) Studies in India - 5%
ii) Studies abroad -15%
INTEREST
click here for interest rates (Interest Rebate : 1 % Interest concession if interest debited during a financial year is remitted within one month of its debit in account)
REPAYMENT
To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.
SECURITY
No Security for loan upto Rs.4 lacs.
Above Rs.4 lacs and upto Rs.7.5 lacs collateral in the form of a satisfactory third party guarantee required. If the parent(s) has sufficient worth the condiftion regarding the above may be waived.
For loans above Rs7.5 lacs collateral security equal to the loan amount or co-obligation of parents\guardian\third party along with assignment of future income of the student for payment of installments may be obtained.
Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin.
PROCESSING FEE
No processing fee for studies in India.
PAPERS TO BE SUBMITTED TO THE BANK
Two copies of passport size photographs.
Testimonials in original form from the head of the institution and from one or two other respectable persons not related to the student.
Proof of admission to the course.
Schedule of expenses for the course.
Copies of foreign exchange permit (if applicable)
Copy of salary slip \ statement of income of parent \guardian.
FOR MORTGAGE OF PROPERTY
Original and prior title deeds.
Latest tax receipts.
Possession certificate.
Encumbrance certificate for the last 15 years from the Sub Registrar.
Title clear certificate from the banks approved advocate.
Valuation report from the banks approved valuator.
For more Details : www.statebankoftravancore.com
The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad
PURPOSE
To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\purchase of Computers\equipments\instruments\uniforms and the cost of passage for studies abroad. Any other expenses required to complete the course like study, tours, project work, thesis etc. also be financed.
ELIGIBLE COURSES
Studies in India
a. Graduation courses, BA, B.Com, B.Sc etc.
b. Post Graduation Courses, Masters and Ph D.
c. Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
d Other courses leading to diploma, degree etc.
e. Courses offered by National Institutes and other reputed private institutions.
f. Evening courses of approved institutions.
g. Courses offered in India by reputed foreign universities.
h. Computer Certificate courses of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.
i. Courses like ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
j. Graduate courses in Nursing studies.
Studies abroad
Graduation: For job oriented professional\technical courses offered by reputed universities.
Post graduation: MCA, MBA, MS etc.
Courses conducted by CIMA – London, CPA in USA.
PERSONS ELIGIBLE
The student should be an Indian National and
i) have secured admission to professional\technical courses through entrance test\ merit based selection process.
ii) have secured admission to foreign university institution.
BORROWER : Student and parent\guardian jointly.
In the case of employed students\professionals, loans can be granted in individual names, with suitable guarantee.
LOAN Amount:
For studies in India Rs. 10 lacs
For studies abroad Rs. 20 lacs
MARGIN
Upto Rs. 4 lacs - Nil
Above Rs.4 lacs - i) Studies in India - 5%
ii) Studies abroad -15%
INTEREST
click here for interest rates (Interest Rebate : 1 % Interest concession if interest debited during a financial year is remitted within one month of its debit in account)
REPAYMENT
To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.
SECURITY
No Security for loan upto Rs.4 lacs.
Above Rs.4 lacs and upto Rs.7.5 lacs collateral in the form of a satisfactory third party guarantee required. If the parent(s) has sufficient worth the condiftion regarding the above may be waived.
For loans above Rs7.5 lacs collateral security equal to the loan amount or co-obligation of parents\guardian\third party along with assignment of future income of the student for payment of installments may be obtained.
Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin.
PROCESSING FEE
No processing fee for studies in India.
PAPERS TO BE SUBMITTED TO THE BANK
Two copies of passport size photographs.
Testimonials in original form from the head of the institution and from one or two other respectable persons not related to the student.
Proof of admission to the course.
Schedule of expenses for the course.
Copies of foreign exchange permit (if applicable)
Copy of salary slip \ statement of income of parent \guardian.
FOR MORTGAGE OF PROPERTY
Original and prior title deeds.
Latest tax receipts.
Possession certificate.
Encumbrance certificate for the last 15 years from the Sub Registrar.
Title clear certificate from the banks approved advocate.
Valuation report from the banks approved valuator.
For more Details : www.statebankoftravancore.com
State Bank of Saurashtra Education Loan
GYAN BHARATI EDUCATION LOAN
To provide financial assistance for higher education in India and abroad for those secured admission in recognized/ reputed institutions.
Loans depending upon the course requirements, future prospects. Need based finance considered subject to repayment capacity with a ceiling of Rs. 10 lacs for studies in India and Rs. 20lacs for studies abroad.
Expenses considered include fees payable to college/ school/hostel etc. essential for completion of the course.
No margin, no security for loans upto Rs.4 lacs. For loans above Rs.4 lacs to Rs.7.50 lacs security only in terms of suitable third party guarantee, for loans above Rs.7.50 lacs suitable collateral security equal to 100% of loan amount and a margin of 15% for studies abroad and 5% for studies in India.
No minimum marks criteria.
Repayment within 5-7 years after getting the employment or 1 year after completion of course.
Interest charged on simple rate basis during the course period (moratorium). 1% interest remission, if the interest is serviced during the moratorium period.
No processing charges.
For more Details : www.sbsbank.com
To provide financial assistance for higher education in India and abroad for those secured admission in recognized/ reputed institutions.
Loans depending upon the course requirements, future prospects. Need based finance considered subject to repayment capacity with a ceiling of Rs. 10 lacs for studies in India and Rs. 20lacs for studies abroad.
Expenses considered include fees payable to college/ school/hostel etc. essential for completion of the course.
No margin, no security for loans upto Rs.4 lacs. For loans above Rs.4 lacs to Rs.7.50 lacs security only in terms of suitable third party guarantee, for loans above Rs.7.50 lacs suitable collateral security equal to 100% of loan amount and a margin of 15% for studies abroad and 5% for studies in India.
No minimum marks criteria.
Repayment within 5-7 years after getting the employment or 1 year after completion of course.
Interest charged on simple rate basis during the course period (moratorium). 1% interest remission, if the interest is serviced during the moratorium period.
No processing charges.
For more Details : www.sbsbank.com
State Bank of Mysore Education Loan
Gnanamitra Educational Loan
Purpose
To enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.
Courses Eligible- Higher Studies
Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university
Limit
Amount of loan
(in Indian Rupees)
MIN(Rs.)
MAX(Rs.)
Higher Education- In India
10000
10.00 lacs
Higher Education- Abroad
10000
20.00 lacs
Margin
Upto Rs. 4.00 lacs
Nil
Above Rs. 4.00 lacs
-
For studies in India
5%
For studies abroad
15%
Rate of Interest
Amount
Rate of interest %
(wef 28.06.08)
Upto Rs. 4.00 lacs
12.50
Fixed Only
Above Rs. 4.00 lacs
13.25
Fixed Only
For students studying at elite institutions
11.75
Fixed Only
Second Educational Loan
To enable the students for taking higher education, provided the student secures 60% marks in existing course. The second loan is to be availed only from the branch where the first educational loan has been sanctioned.
Repayment
Technical / Professional Higher studies in India / Abroad
Repayment of loan to commence immediately after disbursal, by the parent / guardian, out of his / her income. Instalments may be nominal (to cover interest portion, atleast) during the period the student is undertaking the studies. The instalments will be stepped up one year after the completion of the course or after the student gets a job, whichever is earlier, so that the loan gets repaid together with interest within a period of 60 to 84 months thereafter.
Security
Upto Rs. 4.00 lacs - NIL
Above Rs. 4.00 lacs and upto Rs. 7.50 lacs - Collateral in the form of a suitable 3rd party guarantee
Above Rs. 7.50 lacs and upto Rs. 10.00 lacs - Collateral security by way of immovable property or equal to the loan amount in the form of Government securities / NSCs / Units of UTI
Insurance
An insurance policy will be taken on the life of the student borrower for an amount equivalent to the loan amount and the policy should be convertible whole-life one for 25 / 30 years, convertible after 5 years into one with endowment benefits. The Bank will pay the insurance premia on the policy by debiting it to the loan account. On liquidation of the loan, the policy will be reassigned and delivered to the borrower.
Repayment
Completion of course + 1 year or 6 months after getting a job, whichever is earlier.The interest to be debited monthly on simple basis during the repayment holiday / moratorium period. Penal interest @2% will be charged for amount above Rs. 2 lacs for the overdue amount and overdue period. Interest concession of 1% per annum is available, provided the interest is repaid during moratorium period as and when the interest is applied.
For more Details : www.mysorebank.com
Purpose
To enable students with academic brilliance to meet tuition and other fees / maintenance costs / books and equipment and cost of passage for studies abroad etc., for pursuing studies at recognised school / college / institution.
Courses Eligible- Higher Studies
Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university
Limit
Amount of loan
(in Indian Rupees)
MIN(Rs.)
MAX(Rs.)
Higher Education- In India
10000
10.00 lacs
Higher Education- Abroad
10000
20.00 lacs
Margin
Upto Rs. 4.00 lacs
Nil
Above Rs. 4.00 lacs
-
For studies in India
5%
For studies abroad
15%
Rate of Interest
Amount
Rate of interest %
(wef 28.06.08)
Upto Rs. 4.00 lacs
12.50
Fixed Only
Above Rs. 4.00 lacs
13.25
Fixed Only
For students studying at elite institutions
11.75
Fixed Only
Second Educational Loan
To enable the students for taking higher education, provided the student secures 60% marks in existing course. The second loan is to be availed only from the branch where the first educational loan has been sanctioned.
Repayment
Technical / Professional Higher studies in India / Abroad
Repayment of loan to commence immediately after disbursal, by the parent / guardian, out of his / her income. Instalments may be nominal (to cover interest portion, atleast) during the period the student is undertaking the studies. The instalments will be stepped up one year after the completion of the course or after the student gets a job, whichever is earlier, so that the loan gets repaid together with interest within a period of 60 to 84 months thereafter.
Security
Upto Rs. 4.00 lacs - NIL
Above Rs. 4.00 lacs and upto Rs. 7.50 lacs - Collateral in the form of a suitable 3rd party guarantee
Above Rs. 7.50 lacs and upto Rs. 10.00 lacs - Collateral security by way of immovable property or equal to the loan amount in the form of Government securities / NSCs / Units of UTI
Insurance
An insurance policy will be taken on the life of the student borrower for an amount equivalent to the loan amount and the policy should be convertible whole-life one for 25 / 30 years, convertible after 5 years into one with endowment benefits. The Bank will pay the insurance premia on the policy by debiting it to the loan account. On liquidation of the loan, the policy will be reassigned and delivered to the borrower.
Repayment
Completion of course + 1 year or 6 months after getting a job, whichever is earlier.The interest to be debited monthly on simple basis during the repayment holiday / moratorium period. Penal interest @2% will be charged for amount above Rs. 2 lacs for the overdue amount and overdue period. Interest concession of 1% per annum is available, provided the interest is repaid during moratorium period as and when the interest is applied.
For more Details : www.mysorebank.com
State Bank of Indore Education Loan
EDUCATION LOAN (SARASWATI YOJANA)
PURPOSE
To extend financial assistance to deserving meritorious students for pursuing higher education in India & abroad.
ELIGIBILITY
Should be an Indian National.
Secured admission to professional/technical courses in India or abroad through Entrance Test/Selection process.
Secured admission to foreign university / institutions.
LOAN AMOUNT
Need based finance subject to repaying capacity of parents / students.
Studies in India: Max. Rs. 10.00 lacs
Studies Abroad: Max. Rs.20.00 lacs
MARGIN
Up to Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies Abroad : 15%
INTEREST RATE
Currently
Up to Rs. 4 lacs 1.50% below BPLR i.e. 12.25% p.a.
Above Rs.4 lacs and upto Rs. 7.50 lacs at par with BPLR i.e. 13.75% p.a. .
Above Rs.7.50 lacs 1.00% below BPLR i.e. 12.75% p.a. .
`
MORATORIUM/ Course period + one year or 6 months after getting the Job, whichever is earlier.
REPAYMENT PERIOD
1. For Loans
a) Upto 7.50 Lacs for studies in India and
b) upto 15 Lacs for studies abroad.
The loan to be repaid in 5-7 years after commencement of repayment.
2. For Loans
a) Above 7.50 Lacs for studies in India and
b) above Rs. 15 Lacs for studies abroad
The loan to be repaid in a maximum of 5-10 years after commencement of repayment.
SECURITY
A. STUDIES IN INDIA
1) Up to Rs. 4 lacs: No security.
2) Above Rs. 4 lacs and Upto Rs. 7.50 lacs: Collateral in the form of a suitable third party guarantee.
3) Above Rs. 7.50 lacs and Upto Rs. 10 lacs: Tangible Collateral security for full value of loan
B. STUDIES ABROAD
1) Up to Rs. 4 lacs: No security.
2) Above Rs. 4 lacs and Upto Rs. 7.50 lacs: Collateral in the form of third party guarantee.
3) Above Rs. 7.50 lacs and Upto Rs. 15 lacs: Tangible Collateral security of suitable value or suitable third party guarantee along with the assignment of future income of the student for payment of installments.
4) For Loans above Rs. 15 lacs and upto Rs. 20 lacs: Tangible Collateral Security for full value of the loan.
For more Details : www.indorebank.org
PURPOSE
To extend financial assistance to deserving meritorious students for pursuing higher education in India & abroad.
ELIGIBILITY
Should be an Indian National.
Secured admission to professional/technical courses in India or abroad through Entrance Test/Selection process.
Secured admission to foreign university / institutions.
LOAN AMOUNT
Need based finance subject to repaying capacity of parents / students.
Studies in India: Max. Rs. 10.00 lacs
Studies Abroad: Max. Rs.20.00 lacs
MARGIN
Up to Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies Abroad : 15%
INTEREST RATE
Currently
Up to Rs. 4 lacs 1.50% below BPLR i.e. 12.25% p.a.
Above Rs.4 lacs and upto Rs. 7.50 lacs at par with BPLR i.e. 13.75% p.a. .
Above Rs.7.50 lacs 1.00% below BPLR i.e. 12.75% p.a. .
`
MORATORIUM/ Course period + one year or 6 months after getting the Job, whichever is earlier.
REPAYMENT PERIOD
1. For Loans
a) Upto 7.50 Lacs for studies in India and
b) upto 15 Lacs for studies abroad.
The loan to be repaid in 5-7 years after commencement of repayment.
2. For Loans
a) Above 7.50 Lacs for studies in India and
b) above Rs. 15 Lacs for studies abroad
The loan to be repaid in a maximum of 5-10 years after commencement of repayment.
SECURITY
A. STUDIES IN INDIA
1) Up to Rs. 4 lacs: No security.
2) Above Rs. 4 lacs and Upto Rs. 7.50 lacs: Collateral in the form of a suitable third party guarantee.
3) Above Rs. 7.50 lacs and Upto Rs. 10 lacs: Tangible Collateral security for full value of loan
B. STUDIES ABROAD
1) Up to Rs. 4 lacs: No security.
2) Above Rs. 4 lacs and Upto Rs. 7.50 lacs: Collateral in the form of third party guarantee.
3) Above Rs. 7.50 lacs and Upto Rs. 15 lacs: Tangible Collateral security of suitable value or suitable third party guarantee along with the assignment of future income of the student for payment of installments.
4) For Loans above Rs. 15 lacs and upto Rs. 20 lacs: Tangible Collateral Security for full value of the loan.
For more Details : www.indorebank.org
IDBI Bank Education Loan
Education loans from IDBI aim at providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad. With an array of courses to choose from and easy repayment options, IDBI makes sure you get complete financial backing.
Courses offered
An installment based loan for all courses mentioned below:
Studies in India:
Graduation courses : BA, B.Com., B.Sc., etc
Post Graduation courses : Masters & Phd
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university
Courses like ICWA, CA, CFA etc
Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc
Courses offered in India by reputed foreign universities
Evening courses of approved institutes
Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc
Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.
Studies abroad:
Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.
Special Courses
Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority .
Loan Amount
Maximum loan amount :
Study in India-Rs.10 lakhs
Study Abroad -Rs.20 lakhs
Loan Margin:
Studies in India - upto Rs. 4 lac- Nil
above Rs. 4 lac- 5% of the total course expenses
Studies abroad - 15% of the total course expenses
Expenses Covered under Loan
Fee payable to college/ school/ hostel
Examination/ Library/ Laboratory fee
Purchase of books/ equipments/ instruments/ uniforms
Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts
Travel expenses/ passage money for studies abroad
Purchase of computers - essential for completion of the course
Any other expense required to complete the course - like study tours, project work, thesis, etc.`
Insurance premium for student borrower
Repayment terms
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.
Rate Of Interest
Upto Rs 4 lacs : BPLR – 1% p.a (12.25%)
Above Rs 4 lacs : BPLR p.a. (13.25%)
Simple interest to be charged during repayment holiday and moratorium
Accrued interest during the repayment holiday period should be added to the EMIs.
Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate.
50 basis points reduction for girl applicants
50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner)
Repayment holiday / moratorium :
Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier .
The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.
For more Details : www.idbibank.com
Courses offered
An installment based loan for all courses mentioned below:
Studies in India:
Graduation courses : BA, B.Com., B.Sc., etc
Post Graduation courses : Masters & Phd
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university
Courses like ICWA, CA, CFA etc
Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc
Courses offered in India by reputed foreign universities
Evening courses of approved institutes
Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc
Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.
Studies abroad:
Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.
Special Courses
Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority .
Loan Amount
Maximum loan amount :
Study in India-Rs.10 lakhs
Study Abroad -Rs.20 lakhs
Loan Margin:
Studies in India - upto Rs. 4 lac- Nil
above Rs. 4 lac- 5% of the total course expenses
Studies abroad - 15% of the total course expenses
Expenses Covered under Loan
Fee payable to college/ school/ hostel
Examination/ Library/ Laboratory fee
Purchase of books/ equipments/ instruments/ uniforms
Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts
Travel expenses/ passage money for studies abroad
Purchase of computers - essential for completion of the course
Any other expense required to complete the course - like study tours, project work, thesis, etc.`
Insurance premium for student borrower
Repayment terms
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.
Rate Of Interest
Upto Rs 4 lacs : BPLR – 1% p.a (12.25%)
Above Rs 4 lacs : BPLR p.a. (13.25%)
Simple interest to be charged during repayment holiday and moratorium
Accrued interest during the repayment holiday period should be added to the EMIs.
Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate.
50 basis points reduction for girl applicants
50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner)
Repayment holiday / moratorium :
Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier .
The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.
For more Details : www.idbibank.com
State Bank of Hyderabad Education Loan
Purpose
To extend financial assistance to all eligible / deserving / meritorious students for pursuing higher education in India & Abroad.
Eligibility
Student Should be an Indian National.
Secured admission to professional/ technical courses through Entrance Test / Selection process.
Secured admission to foreign University / Institution.
Amount of finance
Need based finance subject to repaying capacity of the parents / students.-
Studies in India - Maximum Rs.10.00 lacs
Studies abroad - Maximum Rs.20.00 lacs
Margin money
Upto Rs.4.00 Lacs - NIL
Above Rs. 4.00 Lacs
Studies in India - 5% AND Studies Abroad - 15%
Scholarship /assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.
Security Norms
Upto Rs. 4.00 Lacs - No Security (Co-obligation of parent / guardian is compulsory).
Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.
Above Rs.7.50 Lacs: - Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments.
Rate of Interest
Loans upto Rs.4.00 Lacs – 11.50%
Loans above Rs.4.00 Lacs & upto 10.00 Lacs - 12.50%
Loans above Rs.4.00 Lacs – 13.00%
Penal rate of Interest
@2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period.
Repayment Period
Course period + one year or six months after getting job, whichever is earlier.
5 to 7 years after commencement of repayment.
Processing Charges
No processing charges for studies abroad upto Rs.4.00 Lacs and in case of studies in India irrespective of loan amount.
In case of loans above Rs.4.00 Lacs for studies abroad.
1. Rs. 5000/- to be collected at the time of delivering sanction letter to the student / guardian.
2. Rs.1000/- to be appropriated towards processing fees.
3. Rs.4000/- to be adjusted towards student's margin at the time of release of the loan.
4. In case the loan is not availed for any reason by the student, the amount of Rs.4000/- to be refunded to the student without interest.
No processing charges to be levied on the loans to the wards of Bank's staff members including Retired Staff.
For more Details : www.centralbankofindia.co.in
To extend financial assistance to all eligible / deserving / meritorious students for pursuing higher education in India & Abroad.
Eligibility
Student Should be an Indian National.
Secured admission to professional/ technical courses through Entrance Test / Selection process.
Secured admission to foreign University / Institution.
Amount of finance
Need based finance subject to repaying capacity of the parents / students.-
Studies in India - Maximum Rs.10.00 lacs
Studies abroad - Maximum Rs.20.00 lacs
Margin money
Upto Rs.4.00 Lacs - NIL
Above Rs. 4.00 Lacs
Studies in India - 5% AND Studies Abroad - 15%
Scholarship /assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.
Security Norms
Upto Rs. 4.00 Lacs - No Security (Co-obligation of parent / guardian is compulsory).
Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.
Above Rs.7.50 Lacs: - Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments.
Rate of Interest
Loans upto Rs.4.00 Lacs – 11.50%
Loans above Rs.4.00 Lacs & upto 10.00 Lacs - 12.50%
Loans above Rs.4.00 Lacs – 13.00%
Penal rate of Interest
@2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period.
Repayment Period
Course period + one year or six months after getting job, whichever is earlier.
5 to 7 years after commencement of repayment.
Processing Charges
No processing charges for studies abroad upto Rs.4.00 Lacs and in case of studies in India irrespective of loan amount.
In case of loans above Rs.4.00 Lacs for studies abroad.
1. Rs. 5000/- to be collected at the time of delivering sanction letter to the student / guardian.
2. Rs.1000/- to be appropriated towards processing fees.
3. Rs.4000/- to be adjusted towards student's margin at the time of release of the loan.
4. In case the loan is not availed for any reason by the student, the amount of Rs.4000/- to be refunded to the student without interest.
No processing charges to be levied on the loans to the wards of Bank's staff members including Retired Staff.
For more Details : www.centralbankofindia.co.in
Punjab National Bank Education Loan
EDUCATION LOAN - "VIDYALAKSHYAPURTI"
The Scheme enables all type of needy students viz., students of +2 stage, Graduation courses – B.A., B.Com., B.Sc., etc., Post-Graduation courses, Masters in Ph.D; Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc., Computer Certificate courses of reputed Institutes accredited to Department of Electronics or institutes affiliated to University; Courses like ICWA, C.A., CFA, etc., courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc., Evening Courses of reputed Institutes; Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR, etc., Courses offered by National Institutes and other reputed Private Institutes.
Students should approach the branch nearest to the place of domicile.
Punjab National Bank is now offering concession in interest in education Loan Scheme. The concession in interest rates is available to new borrowers who will avail education loan from the bank w.e.f. 01.04.2007.
The bank has taken this step to make education loan scheme more customer friendly thus facilitating aspirant students to avail education loan on comfortable & affordable terms. .
Further, Interest is charged monthly on simple basis during the repayment holiday/moratoriumperiod & concession of 1% in rate of interest is also allowed provided the same is serviced regularly during study period.
Punjab National Bank has tied up with Kotak Mahindra Insurance to provide life insurance cover for education loan borrowers.
The insurance would cover study period as well as repayment period, he said, adding in case of any mishap, the insurance company would take care of the loan repayment rather than the aggrieved parents.
Eligibility
Student eligibility
Should be an Indian National.
Secured admission to Professional / Technical courses through Entrance Test / Selection process.
Secured admission to foreign University / Institutions.
Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.
Expenses considered for Loan
Fee payable to College / School / Hostel
Examination / Library / Laboratory fee.
Purchase of books / equipments / instruments / uniforms.Secured admission to foreign University / Institutions.
Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
Travel Expenses / Passage money for studies abroad.
Purchase of computers - essential for completion of the Course.
Boarding and lodging expenses in recognised Boarding Houses / private accomondations
Any other expense required to complete the course - like study tours, project work, thesis etc.
Quantum of Finance
Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings :- For studies in India: Maximum Rs.7.50 lacs.
For studies abroad: Maximum Rs.15.00 lacs.
Margin
Upto Rs.4.00 lacs: - Nil.
Above Rs.4.00 lacs: Studies in India 5%
Studies Abroad 15%
Security
Upto Rs.4.00 lacs: No Security.
Above Rs 4.00 lacs and Upto Rs 7.5 lacs: 3rd party guarantee acceptable to the Bank.
Above Rs 7.5 lacs: Collateral Security of Suitable value or suitable 3rd party guarantee.
The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares / Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.
The document should be executed by both the student and the parent/guardian.
Rate of Interest
Upto Rs. 4 lacs BPLR+Term Premia minus 1.25
Above Rs.4 lacs BPLR + Term Premia
Term premia of 0.50% p.a. shall be added for repayment period of 3 years & above.
The interest shall be debited monthly on simple basis during the Repayment holiday/ Moratorium period.
Penal Interest @ 2% be charged for above Rs.4.00 lacs for the overdue amount and overdue period.
1% Interest concession for servicing of interest during the study period regularly is allowed at the time of start of repayment period of loan.
Repayment
Repayment Holiday / Moratorium Coursee period + 1 year OR 6 months after getting job, whichever is earlier.
The Principal and interest is to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.
Upfront Fee
Nil
Documentation Charges
Upto Rs. 4 lacs Rs.270/- + Service Tax & Education Cess
Above Rs.4 lacs Rs.450/- + Service Tax & Education Cess
Additional Benefits provided to the students by PNB
Reimbursement of related expenses such as admission fee, monthly fee, Boarding and lodging expenses in recognized Boarding Houses etc. already incurred by way of loan taken from own sources (to meet the contingency) by the applicant, if claimed within 3 (three) months of such payment and before consideration of the loan by the Bank.
Second time Education Loan can be sanctioned to the same student borrower for completion of next higher course.
For more Details : www.pnbindia.com
The Scheme enables all type of needy students viz., students of +2 stage, Graduation courses – B.A., B.Com., B.Sc., etc., Post-Graduation courses, Masters in Ph.D; Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc., Computer Certificate courses of reputed Institutes accredited to Department of Electronics or institutes affiliated to University; Courses like ICWA, C.A., CFA, etc., courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc., Evening Courses of reputed Institutes; Diploma/Degree courses conducted by Colleges/Universities approved by UGC/Govt./AICTE/AIBMS/ICMR, etc., Courses offered by National Institutes and other reputed Private Institutes.
Students should approach the branch nearest to the place of domicile.
Punjab National Bank is now offering concession in interest in education Loan Scheme. The concession in interest rates is available to new borrowers who will avail education loan from the bank w.e.f. 01.04.2007.
The bank has taken this step to make education loan scheme more customer friendly thus facilitating aspirant students to avail education loan on comfortable & affordable terms. .
Further, Interest is charged monthly on simple basis during the repayment holiday/moratoriumperiod & concession of 1% in rate of interest is also allowed provided the same is serviced regularly during study period.
Punjab National Bank has tied up with Kotak Mahindra Insurance to provide life insurance cover for education loan borrowers.
The insurance would cover study period as well as repayment period, he said, adding in case of any mishap, the insurance company would take care of the loan repayment rather than the aggrieved parents.
Eligibility
Student eligibility
Should be an Indian National.
Secured admission to Professional / Technical courses through Entrance Test / Selection process.
Secured admission to foreign University / Institutions.
Student should have secured pass marks in the qualifying Examination for admission to Graduation Courses.
Expenses considered for Loan
Fee payable to College / School / Hostel
Examination / Library / Laboratory fee.
Purchase of books / equipments / instruments / uniforms.Secured admission to foreign University / Institutions.
Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
Travel Expenses / Passage money for studies abroad.
Purchase of computers - essential for completion of the Course.
Boarding and lodging expenses in recognised Boarding Houses / private accomondations
Any other expense required to complete the course - like study tours, project work, thesis etc.
Quantum of Finance
Need based finance, subject to repaying capacity of the parents / students with margin and the following ceilings :- For studies in India: Maximum Rs.7.50 lacs.
For studies abroad: Maximum Rs.15.00 lacs.
Margin
Upto Rs.4.00 lacs: - Nil.
Above Rs.4.00 lacs: Studies in India 5%
Studies Abroad 15%
Security
Upto Rs.4.00 lacs: No Security.
Above Rs 4.00 lacs and Upto Rs 7.5 lacs: 3rd party guarantee acceptable to the Bank.
Above Rs 7.5 lacs: Collateral Security of Suitable value or suitable 3rd party guarantee.
The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares / Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.
The document should be executed by both the student and the parent/guardian.
Rate of Interest
Upto Rs. 4 lacs BPLR+Term Premia minus 1.25
Above Rs.4 lacs BPLR + Term Premia
Term premia of 0.50% p.a. shall be added for repayment period of 3 years & above.
The interest shall be debited monthly on simple basis during the Repayment holiday/ Moratorium period.
Penal Interest @ 2% be charged for above Rs.4.00 lacs for the overdue amount and overdue period.
1% Interest concession for servicing of interest during the study period regularly is allowed at the time of start of repayment period of loan.
Repayment
Repayment Holiday / Moratorium Coursee period + 1 year OR 6 months after getting job, whichever is earlier.
The Principal and interest is to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years.
Upfront Fee
Nil
Documentation Charges
Upto Rs. 4 lacs Rs.270/- + Service Tax & Education Cess
Above Rs.4 lacs Rs.450/- + Service Tax & Education Cess
Additional Benefits provided to the students by PNB
Reimbursement of related expenses such as admission fee, monthly fee, Boarding and lodging expenses in recognized Boarding Houses etc. already incurred by way of loan taken from own sources (to meet the contingency) by the applicant, if claimed within 3 (three) months of such payment and before consideration of the loan by the Bank.
Second time Education Loan can be sanctioned to the same student borrower for completion of next higher course.
For more Details : www.pnbindia.com
Oriental Bank of Commerce Education Loan
Purpose :
For higher education(after schooling).
Items eligible for Finance:-
Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments,
Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.
Eligibility:
Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.
Amount of Loan:
Education in India - Max. Rs.10.00 lacs.
Education Abroad - Max. Rs.20.00 lacs.
Security:
For Loans upto Rs.4.00 lac
No Collateral Security
Co-obligation of parents/guardian is must.
For Loans above 4 lacs and upto Rs.7.50 lacs
No Collateral Security required,
Co-obligation of parents/guardian is must
One satisfactory third party guarantee
Above Rs.7.50 lacs
Co-obligation of parents/guardian is obligatory.
Mortgage of immovable property or any other tangible security like pledge of NSC/UTI/LIC (Surrender Value)/Bonds/
Bank's deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan. Extension of charge on property already mortgaged with our Bank, subject to adequate residual value of security.
Additional Security in case of Commercial Pilot Course
LIC Policy is to be obtained
Where Collateral Security equivalent to Loan Amount is available, Condition of obtaining LIC can be waived.
Margin:
Upto 4 lacs - NIL
Above 4 lacs for education in India - 5%
Education Abroad - 15%
Concession on Rate of Interest :
Simple Interest shall be charged during study and moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study and moratorium period. This concession shall be allowed after expiry of moratorium.
Special Rate:
0.50% concession to women beneficiaries, SC/STs and disabled students.
Process Fee:
Upto 4 lacs - Rs. 100/-.
Above 4 lacs for education in India - Rs. 500/-
Education Abroad - Rs. 1000/-
Repayment:
Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.
Insurance:
Free Personal Accident Insurance upto Rs.15 lac.
For more Details : www.obcindia.co.in
For higher education(after schooling).
Items eligible for Finance:-
Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments,
Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.
Eligibility:
Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.
Amount of Loan:
Education in India - Max. Rs.10.00 lacs.
Education Abroad - Max. Rs.20.00 lacs.
Security:
For Loans upto Rs.4.00 lac
No Collateral Security
Co-obligation of parents/guardian is must.
For Loans above 4 lacs and upto Rs.7.50 lacs
No Collateral Security required,
Co-obligation of parents/guardian is must
One satisfactory third party guarantee
Above Rs.7.50 lacs
Co-obligation of parents/guardian is obligatory.
Mortgage of immovable property or any other tangible security like pledge of NSC/UTI/LIC (Surrender Value)/Bonds/
Bank's deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan. Extension of charge on property already mortgaged with our Bank, subject to adequate residual value of security.
Additional Security in case of Commercial Pilot Course
LIC Policy is to be obtained
Where Collateral Security equivalent to Loan Amount is available, Condition of obtaining LIC can be waived.
Margin:
Upto 4 lacs - NIL
Above 4 lacs for education in India - 5%
Education Abroad - 15%
Concession on Rate of Interest :
Simple Interest shall be charged during study and moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study and moratorium period. This concession shall be allowed after expiry of moratorium.
Special Rate:
0.50% concession to women beneficiaries, SC/STs and disabled students.
Process Fee:
Upto 4 lacs - Rs. 100/-.
Above 4 lacs for education in India - Rs. 500/-
Education Abroad - Rs. 1000/-
Repayment:
Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.
Insurance:
Free Personal Accident Insurance upto Rs.15 lac.
For more Details : www.obcindia.co.in
Indian Overseas Bank Education Loan
Vidya Jyothi Scheme
Can I apply for the Vidya Jyothi Scheme ?
You can apply if you are a student and satisfy the following eligibility criteria.
You should be an Indian National
You should have secured admission to professional/technical courses in India or abroad through entrance test/merit based selection process
What can I use the loan for ?
You can avail the loan for your Graduation/Post graduation/Diploma/Computer education in any recognised State/Central Government/University. Professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc. Courses offered in India by reputed foreign universities/Evening courses of approved institutes. Regular degree/Diploma courses like Aeronautical, Pilot training, shipping etc approved by Director General of Civil Aviation/shipping if the course is pursued in India. In case the course is pursued abroad the institute should be recognized by the competent local aviation/shipping authority.
How much can I get ?
You can get a maximum of Rs. 10.00 lakh for studying in India and Rs. 20.00 lakh for studying abroad.
What rate of Interest will I have to pay ?
Present Interest rate linked to BPLR is as follows:
- Up to Rs. 4.00 lakh - 12.25%
- Above Rs. 4.00 lakh 13.50%
- Interest to be debited monthly on simple basis during the repayment holiday/moratorium period.
What is the margin for the loan ?
For loans upto Rs. 4.00 lakh Nil
For loans above Rs. 4.00 lakh Studies within India 5%
For studies abroad 15%
Scholarship/assistantship to be included in margin.
What security do I need to provide ?
For loans upto Rs. 4.00 lakh - Co obligation of parents. No security
For loans above Rs. 4.00 lakh and up to Rs.7.50 lakh - Co obligation of parents together with collateral security in the form of suitable third party guarantee
For loans above Rs.7.50 lakh - Coobligation of parents together with tangible collateral security. Collateral security in the form of NSC/KVIP, LIC Policy, Gold, Shares/Debentures or immovable properties Bank
Deposits in the name of student/Parent/Guardian or any other third party with suitable margin. Wherever the land/building is already mortgaged the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. In case the loan is given for the purchase of computer, the computer has to be hypothecated to the bank.
Is there a Holiday period for my loan ?
Yes, there is. You can pay back your loan 6 - 12 months after you complete the course.
How do I repay my loan ?
You can repay the loan in equal monthly Instalments for a maximum period of 5 - 7 years excluding holiday period.
Whether I have to pay Interest every month during my study period?
It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.
In case I opt to service the interest, am I eligible for any concession?
Yes. For prompt servicing of interest for all months during the study period when repayment holiday is specified for interest/repayment under the scheme, an interest rebate of 1.0% is allowed. The interest rebate thus calculated will be credited back to loan account at the time of commencement of repayment of the principal sum.
For more Details : www.iob.in
Can I apply for the Vidya Jyothi Scheme ?
You can apply if you are a student and satisfy the following eligibility criteria.
You should be an Indian National
You should have secured admission to professional/technical courses in India or abroad through entrance test/merit based selection process
What can I use the loan for ?
You can avail the loan for your Graduation/Post graduation/Diploma/Computer education in any recognised State/Central Government/University. Professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc. Courses offered in India by reputed foreign universities/Evening courses of approved institutes. Regular degree/Diploma courses like Aeronautical, Pilot training, shipping etc approved by Director General of Civil Aviation/shipping if the course is pursued in India. In case the course is pursued abroad the institute should be recognized by the competent local aviation/shipping authority.
How much can I get ?
You can get a maximum of Rs. 10.00 lakh for studying in India and Rs. 20.00 lakh for studying abroad.
What rate of Interest will I have to pay ?
Present Interest rate linked to BPLR is as follows:
- Up to Rs. 4.00 lakh - 12.25%
- Above Rs. 4.00 lakh 13.50%
- Interest to be debited monthly on simple basis during the repayment holiday/moratorium period.
What is the margin for the loan ?
For loans upto Rs. 4.00 lakh Nil
For loans above Rs. 4.00 lakh Studies within India 5%
For studies abroad 15%
Scholarship/assistantship to be included in margin.
What security do I need to provide ?
For loans upto Rs. 4.00 lakh - Co obligation of parents. No security
For loans above Rs. 4.00 lakh and up to Rs.7.50 lakh - Co obligation of parents together with collateral security in the form of suitable third party guarantee
For loans above Rs.7.50 lakh - Coobligation of parents together with tangible collateral security. Collateral security in the form of NSC/KVIP, LIC Policy, Gold, Shares/Debentures or immovable properties Bank
Deposits in the name of student/Parent/Guardian or any other third party with suitable margin. Wherever the land/building is already mortgaged the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. In case the loan is given for the purchase of computer, the computer has to be hypothecated to the bank.
Is there a Holiday period for my loan ?
Yes, there is. You can pay back your loan 6 - 12 months after you complete the course.
How do I repay my loan ?
You can repay the loan in equal monthly Instalments for a maximum period of 5 - 7 years excluding holiday period.
Whether I have to pay Interest every month during my study period?
It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.
In case I opt to service the interest, am I eligible for any concession?
Yes. For prompt servicing of interest for all months during the study period when repayment holiday is specified for interest/repayment under the scheme, an interest rebate of 1.0% is allowed. The interest rebate thus calculated will be credited back to loan account at the time of commencement of repayment of the principal sum.
For more Details : www.iob.in
HDFC Bank Education Loan
Features & Benefits
Loans upto Rs.10 Lakhs for Education in India and upto Rs.20 Lakhs for Education abroad
Attractive interest rates.
Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
Loan available upto tenure of 7 years including moratorium period.
Tax Benefits availaible under Section 80E of the IT Act
Hassle free loans and speedy approvals.
Convenience of service at your doorstep.
Loans available for other course related expenses also!
Special privileges
Loans disbursed directly to the educational institution.
Loan to be released as per fee schedules of institutes.
Exclusive Telegraphic Transfer facility availaible for courses abroad.
Loans available for short duration/ job oriented courses also.
Eligibility
You need to be an Indian National.
You should be aged between 16 - 35 yrs.
Collateral is required for all loans greater than Rs. 7.5 Lakhs.
All Loans require a co-applicant. For co-applicant eligibility - check here
For complete details on eligible courses and other details, check our FAQs section
For complete documentation click here
Which courses can I take an Education Loan for ?
Management Courses ( Full-Time + Part Time ) - PostGraduation
Engineering Courses ( Government + Private ) - Graduation
Medicine - Graducation + Post Graducation
Masters in Computer Application ( MCA/MCM) - Post Graduation
Commercial Pilot License courses from Flying Schools approved by DGCA in India or an Equivalent approving body abroad.
Online / Distance Learning courses.
Wherever it is a private institution,the same has to be recongized by the relevant/competent government body.
Fine Arts and Designing - Graduation + Post Graduation
Architecture - Graduation
Hotel and Hospitality - Graduation + Post Graduation
Agriculture - Post Graduation
Pure Science - Graduation + Post Graduation
B.A./B.Com/M.A./M.Com
Courses such as SAP , ERP , GNIIT , Air Hostess Training programmes etc.
Besides the above mentioned ,other Institute to be rated on the basis of their listing with the AICTE etc.
Any other document / information as needed by Bank, depending upon the case and purpose of loan.
Do I have to pay part of the fees ?
100% loan is available for select courses. Margin ranges from 5-15 % for courses in India & Abroad .Please contact your nearest branch for further details.
Is there moratorium/repayment holiday available ?
Yes. A moratorium/repayment holiday is available for select courses. Please contact your nearest branch for further details.
What is the moratorium period ?
Repayment holiday/ moratorium would be for the course period + 1 year or 6 months after the student gets a job/start earning whichever is earlier.
Is there any kind of repayment that has to be made in the moratorium period ?
Interest would have to be paid during the moratorium, the interest servicing would be of simple interest calculated on the loan amount disbursed payable monthly.
What would be the mode of repayment ?
Customer has the option of paying through Standing instructions/ ECS/Post dated cheques.
What would be the tenure of the loan ?
Maximum tenure of the loan can be 7 years including moratarium period.
Is there a need of a co-applicant ?
Yes, a co-applicant is required for all Full-Time courses . The co-applicant can be your parents, siblings, spouse or Family Relative . Loan eligiblity would be calculated on the basis of the co-applicant's income. In case of Part Time courses , No Co-applicant required . However in order to increase the eligibility a co-applicant may be added .
Which document have to be furnished to avail the loan ?
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
Completely filled Application Form with Photographs.
Letter of admission from the Institute
Letter from the Institute stating cost break up of the program (term-wise, year-wise)
Marksheets from SSC onwards till the latest examination passed
KYC Documents for the Applicant & Co-applicant (Residence Proof , ID Proof , Signature Verfication Proof , Age proof )
Income Documents of the Co-applicant ( Pay Slips / ITR copy etc )
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
For studies abroad - In addition to the above list of documents – Pls Provide :
Letter from the Head Of Department ( University)
Visa approval papers
Travel papers
GMAT/GRE/SAT score
I-20 in case of applicant going to the USA
What is the quantum of the loan ?
For loans with Moratorium :
Studying in India - Max Rs. 10 Lakhs
Studying abroad - Max Rs. 20 Lakhs
For Loans without Moratorium :
Studying in India - Max Rs. 7.50 Lakhs
Studying abroad - Max Rs. 10 Lakhs
Would the loan be disbursed in favour of the Institute ?
Yes. Tution & hostel fee will be disbursed directly to the educational Institute as per the schedule of fee given by the Institute/college ( semester - wise/yearly).
Which expenses does the loan cover ?
Fee Payable to College/School/Hostel
Exam/Library/Lab fees
Caution deposit / Refundable deposit asked by the institution/Building fund - supported by Institution bills/receipts
Purchase of Books/equipments/instrument/uniforms
Travel expenses/passage money for studies abroad
Purchase of computers - essential for completion of the course
Any other expense required to complete the course - like study tours, project work, thesis, etc.
For more Details : www.hdfcbank.com
Loans upto Rs.10 Lakhs for Education in India and upto Rs.20 Lakhs for Education abroad
Attractive interest rates.
Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
Loan available upto tenure of 7 years including moratorium period.
Tax Benefits availaible under Section 80E of the IT Act
Hassle free loans and speedy approvals.
Convenience of service at your doorstep.
Loans available for other course related expenses also!
Special privileges
Loans disbursed directly to the educational institution.
Loan to be released as per fee schedules of institutes.
Exclusive Telegraphic Transfer facility availaible for courses abroad.
Loans available for short duration/ job oriented courses also.
Eligibility
You need to be an Indian National.
You should be aged between 16 - 35 yrs.
Collateral is required for all loans greater than Rs. 7.5 Lakhs.
All Loans require a co-applicant. For co-applicant eligibility - check here
For complete details on eligible courses and other details, check our FAQs section
For complete documentation click here
Which courses can I take an Education Loan for ?
Management Courses ( Full-Time + Part Time ) - PostGraduation
Engineering Courses ( Government + Private ) - Graduation
Medicine - Graducation + Post Graducation
Masters in Computer Application ( MCA/MCM) - Post Graduation
Commercial Pilot License courses from Flying Schools approved by DGCA in India or an Equivalent approving body abroad.
Online / Distance Learning courses.
Wherever it is a private institution,the same has to be recongized by the relevant/competent government body.
Fine Arts and Designing - Graduation + Post Graduation
Architecture - Graduation
Hotel and Hospitality - Graduation + Post Graduation
Agriculture - Post Graduation
Pure Science - Graduation + Post Graduation
B.A./B.Com/M.A./M.Com
Courses such as SAP , ERP , GNIIT , Air Hostess Training programmes etc.
Besides the above mentioned ,other Institute to be rated on the basis of their listing with the AICTE etc.
Any other document / information as needed by Bank, depending upon the case and purpose of loan.
Do I have to pay part of the fees ?
100% loan is available for select courses. Margin ranges from 5-15 % for courses in India & Abroad .Please contact your nearest branch for further details.
Is there moratorium/repayment holiday available ?
Yes. A moratorium/repayment holiday is available for select courses. Please contact your nearest branch for further details.
What is the moratorium period ?
Repayment holiday/ moratorium would be for the course period + 1 year or 6 months after the student gets a job/start earning whichever is earlier.
Is there any kind of repayment that has to be made in the moratorium period ?
Interest would have to be paid during the moratorium, the interest servicing would be of simple interest calculated on the loan amount disbursed payable monthly.
What would be the mode of repayment ?
Customer has the option of paying through Standing instructions/ ECS/Post dated cheques.
What would be the tenure of the loan ?
Maximum tenure of the loan can be 7 years including moratarium period.
Is there a need of a co-applicant ?
Yes, a co-applicant is required for all Full-Time courses . The co-applicant can be your parents, siblings, spouse or Family Relative . Loan eligiblity would be calculated on the basis of the co-applicant's income. In case of Part Time courses , No Co-applicant required . However in order to increase the eligibility a co-applicant may be added .
Which document have to be furnished to avail the loan ?
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
Completely filled Application Form with Photographs.
Letter of admission from the Institute
Letter from the Institute stating cost break up of the program (term-wise, year-wise)
Marksheets from SSC onwards till the latest examination passed
KYC Documents for the Applicant & Co-applicant (Residence Proof , ID Proof , Signature Verfication Proof , Age proof )
Income Documents of the Co-applicant ( Pay Slips / ITR copy etc )
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
For studies abroad - In addition to the above list of documents – Pls Provide :
Letter from the Head Of Department ( University)
Visa approval papers
Travel papers
GMAT/GRE/SAT score
I-20 in case of applicant going to the USA
What is the quantum of the loan ?
For loans with Moratorium :
Studying in India - Max Rs. 10 Lakhs
Studying abroad - Max Rs. 20 Lakhs
For Loans without Moratorium :
Studying in India - Max Rs. 7.50 Lakhs
Studying abroad - Max Rs. 10 Lakhs
Would the loan be disbursed in favour of the Institute ?
Yes. Tution & hostel fee will be disbursed directly to the educational Institute as per the schedule of fee given by the Institute/college ( semester - wise/yearly).
Which expenses does the loan cover ?
Fee Payable to College/School/Hostel
Exam/Library/Lab fees
Caution deposit / Refundable deposit asked by the institution/Building fund - supported by Institution bills/receipts
Purchase of Books/equipments/instrument/uniforms
Travel expenses/passage money for studies abroad
Purchase of computers - essential for completion of the course
Any other expense required to complete the course - like study tours, project work, thesis, etc.
For more Details : www.hdfcbank.com
Federal Bank - Special Vidya Education Loan
Special Vidya Loan
Purpose:
The prime object is to provide every meritorious student though poor with an opportunity to pursue higher studies in India & Abroad with the financial support from the banking system with affordable terms and conditions.
Eligibility:
Should be an Indian National
Secured admission to professional/technical courses through Entrance test/ Merit based selection process
Secured admission to foreign university / institutions (for studies abroad)
Course & Institution should have necessary approval/recognition
Loan Amount:
Studies in India - Up to 7.5 Lakh
Studies Abroad - Up to 15 Lakhs
Loan Period
Course period + 5 - 7 years
Mode of Repayment:
Repayable in equal monthly installments in 5 to 7 years after moratorium period
No repayment during moratorium period
Interest rate
Click here for rate of interest
For more Details : www.federalbank.co.in
Purpose:
The prime object is to provide every meritorious student though poor with an opportunity to pursue higher studies in India & Abroad with the financial support from the banking system with affordable terms and conditions.
Eligibility:
Should be an Indian National
Secured admission to professional/technical courses through Entrance test/ Merit based selection process
Secured admission to foreign university / institutions (for studies abroad)
Course & Institution should have necessary approval/recognition
Loan Amount:
Studies in India - Up to 7.5 Lakh
Studies Abroad - Up to 15 Lakhs
Loan Period
Course period + 5 - 7 years
Mode of Repayment:
Repayable in equal monthly installments in 5 to 7 years after moratorium period
No repayment during moratorium period
Interest rate
Click here for rate of interest
For more Details : www.federalbank.co.in
Federal Bank - Vidya Education Loan
Vidya Loan
Purpose
Higher Studies in India & Abroad
Eligibility
Students of Indian Nationality
Residents & Non-Residents
Loan Amount
Up to Rs. 25 Lakhs
Period
Maximum 11 years
Interest
Up to Rs.4 Lakhs – 11.50%
Above Rs.4 Lakhs – 14%
Security
Co-obligant/Collateral Security
For more Details : www.federalbank.co.in
Purpose
Higher Studies in India & Abroad
Eligibility
Students of Indian Nationality
Residents & Non-Residents
Loan Amount
Up to Rs. 25 Lakhs
Period
Maximum 11 years
Interest
Up to Rs.4 Lakhs – 11.50%
Above Rs.4 Lakhs – 14%
Security
Co-obligant/Collateral Security
For more Details : www.federalbank.co.in
Dena Bank Education Loan
Dena Vidya Laxmi Educational Loan Scheme
Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.
You are eligible if:
You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.
Simply walk in with the marksheet of the qualifying exam. and proof of admission.
Course Eligibility
Study in India:
Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.
Study Abroad:
Graduation for professional/ technical courses offered by reputed universities; Post Graduation (MCA, MBA, MS)
Loan Amount
Upto Rs.10 lakhs for studies in India.
Upto- Rs. 20 lakhs for studies abroad.
Loan takes care of :
Fee payable to colleges/ schools/ hostels
Examination/ Library/ Laboratory fees.
Purchase of books, equipment, instruments and uniforms.
Passage fare for travel abroad.
Purchase of computers needed to complete the course.
Any other expense to complete the course like study tours, project work, thesis etc.
Margin
Upto Rs. 4 lakhs- NIL for study in India and abroad.
Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.
Rate of Interest
Please Check out the Interest Rates Section to find latest Interest Rates applicable
Process Fees : NIL
Repayment
Moratorium- Course period + 1 year or 6 months after getting a job, whichever is earlier.
Repayment period- 5-7 years after start of repayment.
Download Application Form
For any query,
Please contact : Email: rbd@denabank.co.in
For more Details : www.denabank.com
Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.
You are eligible if:
You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.
Simply walk in with the marksheet of the qualifying exam. and proof of admission.
Course Eligibility
Study in India:
Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.
Study Abroad:
Graduation for professional/ technical courses offered by reputed universities; Post Graduation (MCA, MBA, MS)
Loan Amount
Upto Rs.10 lakhs for studies in India.
Upto- Rs. 20 lakhs for studies abroad.
Loan takes care of :
Fee payable to colleges/ schools/ hostels
Examination/ Library/ Laboratory fees.
Purchase of books, equipment, instruments and uniforms.
Passage fare for travel abroad.
Purchase of computers needed to complete the course.
Any other expense to complete the course like study tours, project work, thesis etc.
Margin
Upto Rs. 4 lakhs- NIL for study in India and abroad.
Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.
Rate of Interest
Please Check out the Interest Rates Section to find latest Interest Rates applicable
Process Fees : NIL
Repayment
Moratorium- Course period + 1 year or 6 months after getting a job, whichever is earlier.
Repayment period- 5-7 years after start of repayment.
Download Application Form
For any query,
Please contact : Email: rbd@denabank.co.in
For more Details : www.denabank.com
Development Credit Bank Limited Education Loan
PURPOSE
Personal Loans for any declared legal use which may include;
- Purchase of assets & consumer durable
- Home Improvement
- Tax saving investments
- Higher Education
- Holidays’ Travel
- Emergency Medical Needs
- Investment in Primary/secondary market
- Loan takeover from other financiers/balance transfer for cards
LOAN TYPE
Amortizing Term Loans: Equal installments
AMOUNT
Min/Max Amount per Borrower
a) Salaried Individuals
Rs. 25,000- Rs. 1,000,000 (Cat A Companies)
Rs. 25,000- Rs. 500,000 ( Cat B Companies)
Rs. 25,000- Rs. 200,000 ( Cat C Companies)
b) Self Employed Business - Rs. 25,000- Rs.500,000
c) Self Employed Professionals
Rs. 25,000- Rs.1,000,000 (Doctors/Dentists)
Rs. 25,000- Rs. 5,00,000 (Other Professionals)
c) Loyalty - Rs. 25,000- Rs.300,000
d) Balance Transfer Program (Credit cards) - Rs.25,000- Rs.200,000
e) Surrogate Programs - Rs. 25,000- Rs. 500,000
Tenor
Term Loans : 1 year to 5 years
Interest Rate
Fixed
Applicant Categories
- Salaried Individuals
- Self Employed Professional Individuals
- Self Employed Business Individuals
CO- BORROWER REQUIREMENTS
( applicable for salaried borrowers under verified income program where income requirement is not met on individual basis)
Eligibility : Salaried Applicants
Relationship : Spouse only
Employer : All Public Ltd. Cos, MNCs, Govt. organizations, schools, College, Hospitals, Approved Employers
Age: 21 to 58 yrs (Max at loan maturity
Income: Min. Rs 60,000 (verification as per product norms)
MODE OF REPAYMENT
- Post Dated cheques (PDCs) for installment repayments
- Standing Instructions (SI), if customer has an account with DCB
-ECS
For more Details : www.dcbl.com
Personal Loans for any declared legal use which may include;
- Purchase of assets & consumer durable
- Home Improvement
- Tax saving investments
- Higher Education
- Holidays’ Travel
- Emergency Medical Needs
- Investment in Primary/secondary market
- Loan takeover from other financiers/balance transfer for cards
LOAN TYPE
Amortizing Term Loans: Equal installments
AMOUNT
Min/Max Amount per Borrower
a) Salaried Individuals
Rs. 25,000- Rs. 1,000,000 (Cat A Companies)
Rs. 25,000- Rs. 500,000 ( Cat B Companies)
Rs. 25,000- Rs. 200,000 ( Cat C Companies)
b) Self Employed Business - Rs. 25,000- Rs.500,000
c) Self Employed Professionals
Rs. 25,000- Rs.1,000,000 (Doctors/Dentists)
Rs. 25,000- Rs. 5,00,000 (Other Professionals)
c) Loyalty - Rs. 25,000- Rs.300,000
d) Balance Transfer Program (Credit cards) - Rs.25,000- Rs.200,000
e) Surrogate Programs - Rs. 25,000- Rs. 500,000
Tenor
Term Loans : 1 year to 5 years
Interest Rate
Fixed
Applicant Categories
- Salaried Individuals
- Self Employed Professional Individuals
- Self Employed Business Individuals
CO- BORROWER REQUIREMENTS
( applicable for salaried borrowers under verified income program where income requirement is not met on individual basis)
Eligibility : Salaried Applicants
Relationship : Spouse only
Employer : All Public Ltd. Cos, MNCs, Govt. organizations, schools, College, Hospitals, Approved Employers
Age: 21 to 58 yrs (Max at loan maturity
Income: Min. Rs 60,000 (verification as per product norms)
MODE OF REPAYMENT
- Post Dated cheques (PDCs) for installment repayments
- Standing Instructions (SI), if customer has an account with DCB
-ECS
For more Details : www.dcbl.com
Central Bank of India Computer Loan
CENT Computer Loan
A Scheme For Purchase Of Computer
Buying a PC made easy
Purpose
Purchase of Personal Computer and Laptops along with accessories.
Eligibility
All individuals including students, professionals and permanent salaried persons.
Quantum of Loan
75% of cost, subject to maximum Rs.1,00,000/- repayable in maximum 36 months.
Rate of Interest
Click here to view Interest Rates
Security
Primary: Hypothecation of Personal computer / Laptops and accessories. Collateral: Any of the following securities having market / accrued / surrender value not less than 50% of loan amount:
EM of properties;
Lien on FDRs, KVPs
NSCs, Assignment of LIC policies.
Processing Charges
Rs.500/- per proposal to be recovered immediately on sanction
Sanctioning Authority
All delegatees under their delegated powers
Other terms and conditions
Computer / Laptop and accessories will be comprehensively insured with Bank clause through Bancassurance.
In case of students, Father / guardian of the student will be principal borrower. In case student is major he will be taken as co-borrower.
Father / guardian / borrower should have known source of income to repay the installments.
In case of salaried persons the take home pay should not be less than 50% after taking in to consideration present loan installment.
Income of professional should be ascertained from last two years IT Returns.
For more Details : www.centralbankofindia.co.in
A Scheme For Purchase Of Computer
Buying a PC made easy
Purpose
Purchase of Personal Computer and Laptops along with accessories.
Eligibility
All individuals including students, professionals and permanent salaried persons.
Quantum of Loan
75% of cost, subject to maximum Rs.1,00,000/- repayable in maximum 36 months.
Rate of Interest
Click here to view Interest Rates
Security
Primary: Hypothecation of Personal computer / Laptops and accessories. Collateral: Any of the following securities having market / accrued / surrender value not less than 50% of loan amount:
EM of properties;
Lien on FDRs, KVPs
NSCs, Assignment of LIC policies.
Processing Charges
Rs.500/- per proposal to be recovered immediately on sanction
Sanctioning Authority
All delegatees under their delegated powers
Other terms and conditions
Computer / Laptop and accessories will be comprehensively insured with Bank clause through Bancassurance.
In case of students, Father / guardian of the student will be principal borrower. In case student is major he will be taken as co-borrower.
Father / guardian / borrower should have known source of income to repay the installments.
In case of salaried persons the take home pay should not be less than 50% after taking in to consideration present loan installment.
Income of professional should be ascertained from last two years IT Returns.
For more Details : www.centralbankofindia.co.in
Central Bank of India Education Loan
CENT Vidyarthi
Your application form to a world of education
Objective
The scheme aims at providing financial assistance on reasonable terms :
To the poor and needy to undertake basic education.
To the student/employed persons to pursue higher education
Eligibility
Studies in India :
School education including plus 2 stages.
Graduation courses - B.A., B.Com., B.Sc. etc
Post Graduation courses - Masters & Ph.D.
Professional courses - Engineering, Medical, Agriculture, Veterinary, Law,
Dental, Management, Computer etc.
Computer Certificate course of reputed institutions accredited to
Department of Electronics or Institutions affiliated to University.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Courses offered in India by reputed Foreign Universities.
Evening courses of approved institutions.
Other courses leading to Diploma/Degree etc. conducted by Colleges/Universities approved by UGC/Govt./AICTE/ICMR etc.
Courses offered by National Institutes and other reputed private institutions. Any other institution courses depending on future prospects/recognition by user institutions deemed proper by the Bank.
Studies Abroad :
Graduation : For job oriented professional/technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS. etc.
Courses conducted by Chartered Institute of Management Accountants (CIMA) - London, Chartered Public Accountant (CPA) - USA etc.
Students Eligibility
Should be an Indian National.
Student should be in the age group of 16 to 40 yrs
Secured admission to Professional/Technical courses through Entrance Test/Selection Process.
Secured admission to Foreign University/Institutions.
Expenses Considered for Loan
Fee payable to College/School/Hostel.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments/uniforms .
Caution deposit/building fund/ refundable deposit.
Travel expenses/passage money for studies abroad.
Purchase of computers - essential for completion of the course.
Any other expenses required to complete the course - like study tours, project work thesis etc.
To meet insurance premium for the policy on the life of the student.
Reimbursement of these expenses already incurred/loan taken from identified sources (to meet the contingencies) by the applicant on merits is allowed, subject to production of original receipts within one month if applicant has secured admission in India and within six weeks if the applicant is going abroad.
Quantum of Finance
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings:
Studies in India - Maximum Rs. 7.50 lacs
Studies Abroad - Maximum Rs. 15.00 lacs
Margin
Upto Rs. 4 lacs - No margin
Above Rs. 4 Lakhs In India 5%
Abroad 15%
Security
Upto Rs.4 Lakhs: No security .Only to take co-obligation of either or both parents/guardian
Above Rs.4 Lakhs and upto Rs 7.50 Lakhs: Collateral in the form of satisfacfactory third party guarantee
Above Rs.7.50 Lakhs: Collateral security of suitable value or co-obligation of parents/ guardians/ third party along with the assignment of future income of the student for payment of installments
ForInterest Rates
Online Application Of Education Loan
For more Details : www.centralbankofindia.co.in
Your application form to a world of education
Objective
The scheme aims at providing financial assistance on reasonable terms :
To the poor and needy to undertake basic education.
To the student/employed persons to pursue higher education
Eligibility
Studies in India :
School education including plus 2 stages.
Graduation courses - B.A., B.Com., B.Sc. etc
Post Graduation courses - Masters & Ph.D.
Professional courses - Engineering, Medical, Agriculture, Veterinary, Law,
Dental, Management, Computer etc.
Computer Certificate course of reputed institutions accredited to
Department of Electronics or Institutions affiliated to University.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Courses offered in India by reputed Foreign Universities.
Evening courses of approved institutions.
Other courses leading to Diploma/Degree etc. conducted by Colleges/Universities approved by UGC/Govt./AICTE/ICMR etc.
Courses offered by National Institutes and other reputed private institutions. Any other institution courses depending on future prospects/recognition by user institutions deemed proper by the Bank.
Studies Abroad :
Graduation : For job oriented professional/technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS. etc.
Courses conducted by Chartered Institute of Management Accountants (CIMA) - London, Chartered Public Accountant (CPA) - USA etc.
Students Eligibility
Should be an Indian National.
Student should be in the age group of 16 to 40 yrs
Secured admission to Professional/Technical courses through Entrance Test/Selection Process.
Secured admission to Foreign University/Institutions.
Expenses Considered for Loan
Fee payable to College/School/Hostel.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments/uniforms .
Caution deposit/building fund/ refundable deposit.
Travel expenses/passage money for studies abroad.
Purchase of computers - essential for completion of the course.
Any other expenses required to complete the course - like study tours, project work thesis etc.
To meet insurance premium for the policy on the life of the student.
Reimbursement of these expenses already incurred/loan taken from identified sources (to meet the contingencies) by the applicant on merits is allowed, subject to production of original receipts within one month if applicant has secured admission in India and within six weeks if the applicant is going abroad.
Quantum of Finance
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings:
Studies in India - Maximum Rs. 7.50 lacs
Studies Abroad - Maximum Rs. 15.00 lacs
Margin
Upto Rs. 4 lacs - No margin
Above Rs. 4 Lakhs In India 5%
Abroad 15%
Security
Upto Rs.4 Lakhs: No security .Only to take co-obligation of either or both parents/guardian
Above Rs.4 Lakhs and upto Rs 7.50 Lakhs: Collateral in the form of satisfacfactory third party guarantee
Above Rs.7.50 Lakhs: Collateral security of suitable value or co-obligation of parents/ guardians/ third party along with the assignment of future income of the student for payment of installments
ForInterest Rates
Online Application Of Education Loan
For more Details : www.centralbankofindia.co.in
Catholic Syrian Bank Education Loan
Provides financial assistance to deserving students to pursue higher/professional/technical education in India and abroad.
Eligibility
For School Education including Plus Two, Graduation Courses, Post -Graduation Courses etc
For Courses of study abroad, the student should be an Indian National who has secured admission to professional courses through Test/selection process , to foreign University institutions.
Purpose
To meet the tuition and other fees, cost of Books, Computers, refundable deposits supported by Bills/Receipts, travel expenses for studies abroad etc.
Quantum of Finance
Studies in India - Rs. 7.50 lakhs
Studies Abroad - Rs. 15 lakhs
Rate of Interest
Upto Rs.4 lakhs 12.00% p.a.
Above Rs.4 lakhs 12.50% p.a.
Security
Upto Rs. 4 lakhs -Nil
Above Rs. 4 lakhs -Collateral security of value twice the loan amount.
Margin
Upto Rs. 4 lakhs - Nil
Above Rs. 4 lakhs - Study in India-5%, Study abroad-15%
Repayment
To commence after one year of completion of the course or 6months after getting the job, whichever is earlier. Repayment in 5 to 7 years.
Guarantee
Personal Guarantee of parents.
Attractive features
No Processing Fee. 1% rebate on interest during holiday period, if interest is remitted promptly during the period.
For more Details : www.csb.co.in
Eligibility
For School Education including Plus Two, Graduation Courses, Post -Graduation Courses etc
For Courses of study abroad, the student should be an Indian National who has secured admission to professional courses through Test/selection process , to foreign University institutions.
Purpose
To meet the tuition and other fees, cost of Books, Computers, refundable deposits supported by Bills/Receipts, travel expenses for studies abroad etc.
Quantum of Finance
Studies in India - Rs. 7.50 lakhs
Studies Abroad - Rs. 15 lakhs
Rate of Interest
Upto Rs.4 lakhs 12.00% p.a.
Above Rs.4 lakhs 12.50% p.a.
Security
Upto Rs. 4 lakhs -Nil
Above Rs. 4 lakhs -Collateral security of value twice the loan amount.
Margin
Upto Rs. 4 lakhs - Nil
Above Rs. 4 lakhs - Study in India-5%, Study abroad-15%
Repayment
To commence after one year of completion of the course or 6months after getting the job, whichever is earlier. Repayment in 5 to 7 years.
Guarantee
Personal Guarantee of parents.
Attractive features
No Processing Fee. 1% rebate on interest during holiday period, if interest is remitted promptly during the period.
For more Details : www.csb.co.in
Bank of Baroda - Baroda Vidya Education Loan Scheme
Bank of Baroda presents a one of its kind finance option for parents of students pursuing school education. These loans are available for studies from Nursery to Senior Secondary School.
No processing & documentation charges.
No Margin.
No security required.
Terms & Conditions
Eligibility :
Should be an Indian national residing in India.
Student should have secured admission to a recognized school / Highschool / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
Stage I : Nursery to V th STD.
Stage II : VI th to VIII STD.
Stage III : IX th to XII th STD.
Coverage of expenses for :
Fee payable to college / school.
Examination / Library / Laboratory Fee.
Fee and other charges payable to hostel.
Purchase of books / equipments / instruments / uniforms.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
Maximum Loan Amount : Rs.4.00 Lacs
Repayment Period :
Loan for each yearly sub limit is repayable in 12 equal monthly instalments. First instalment to be due 12 months after first disbursement of each year's loan component.
The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.
Security :
In case the loan is given for purchase of computer the same is to be hypothecated to the bank.
Rate of Interest :
1% concession in rate of interest to loans for girl students.
Interest to be serviced as and when applied during moratorium period.
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.
For more Details : www.bankofbaroda.com
No processing & documentation charges.
No Margin.
No security required.
Terms & Conditions
Eligibility :
Should be an Indian national residing in India.
Student should have secured admission to a recognized school / Highschool / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
Stage I : Nursery to V th STD.
Stage II : VI th to VIII STD.
Stage III : IX th to XII th STD.
Coverage of expenses for :
Fee payable to college / school.
Examination / Library / Laboratory Fee.
Fee and other charges payable to hostel.
Purchase of books / equipments / instruments / uniforms.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
Maximum Loan Amount : Rs.4.00 Lacs
Repayment Period :
Loan for each yearly sub limit is repayable in 12 equal monthly instalments. First instalment to be due 12 months after first disbursement of each year's loan component.
The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.
Security :
In case the loan is given for purchase of computer the same is to be hypothecated to the bank.
Rate of Interest :
1% concession in rate of interest to loans for girl students.
Interest to be serviced as and when applied during moratorium period.
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.
For more Details : www.bankofbaroda.com
Bank of Baroda - Baroda Scholar Educational Loan
Bank of Baroda - Baroda Scholar
Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...
Terms & Conditions
Eligiblity of Courses :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.
Student Eligiblity :
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Coverage of expenses (for overseas studies) :
Admission/Tuition fees to College/University.
Hostel/Mess charges.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments.
Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.
One way travel expenses/Passage money.
Purchase of computers if essential for completion of the course.
Any other expense required to complete the course e.g. study tour, project work, thesis etc.
Maximum amount of loan : Rs. 20.00 Lacs.
Margin : 15%
Repayment Period :
Repayment Holiday/Moratorium Period :
Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is repayable in 5-7 years after the above period.
Security :
Upto Rs.4.00/- lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income
Rate of Interest :
Simple interest during repayment holiday/moratorium period.
1% interest concession, if interest debited during the repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.
For more Details : www.bankofbaroda.com
Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...
Terms & Conditions
Eligiblity of Courses :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.
Student Eligiblity :
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Coverage of expenses (for overseas studies) :
Admission/Tuition fees to College/University.
Hostel/Mess charges.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments.
Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.
One way travel expenses/Passage money.
Purchase of computers if essential for completion of the course.
Any other expense required to complete the course e.g. study tour, project work, thesis etc.
Maximum amount of loan : Rs. 20.00 Lacs.
Margin : 15%
Repayment Period :
Repayment Holiday/Moratorium Period :
Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is repayable in 5-7 years after the above period.
Security :
Upto Rs.4.00/- lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income
Rate of Interest :
Simple interest during repayment holiday/moratorium period.
1% interest concession, if interest debited during the repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.
For more Details : www.bankofbaroda.com
Bank of Baroda Loan for Laptop & Personal Computer
The number of businesses and homes depending on computers for a more efficient and systematic, day to day management of activities is on the rise. Whether it helps your kid's education or augments your business activities, or provides as a source of information and entertainment at home, computers have proved to be indispensable.
Although computers are getting cheaper by the year, they still come with a considerably high price tag. Bank of Baroda's Loan for Laptop & Personal Computer enable you to finance your dream PC / LAPTOP and also provide for the purchase of legal software
Key Benefits
Provides adequate finance to purchase a branded PC / Laptop of your choice.
Finance available for hardware (up to Rs. 1 Lakh) as well as software (up to 20,000/-).
Terms & Conditions
All resident Indians, salaried, professional, self-employed, businessmen or farmers can apply for this loan.
The loan amount can be repaid in maximum 60 months (for hardware) and a maximum of 24 months if a loan taken for purchases of software.
Margin:25%.
Security
The computer purchased out of loan is to be hypothecated to the Bank.
Third party guarantee, if loan exceeds Rs. 50000.
The hardware to be purchased must be of a reputed brand.
For more Details : www.bankofbaroda.com
Although computers are getting cheaper by the year, they still come with a considerably high price tag. Bank of Baroda's Loan for Laptop & Personal Computer enable you to finance your dream PC / LAPTOP and also provide for the purchase of legal software
Key Benefits
Provides adequate finance to purchase a branded PC / Laptop of your choice.
Finance available for hardware (up to Rs. 1 Lakh) as well as software (up to 20,000/-).
Terms & Conditions
All resident Indians, salaried, professional, self-employed, businessmen or farmers can apply for this loan.
The loan amount can be repaid in maximum 60 months (for hardware) and a maximum of 24 months if a loan taken for purchases of software.
Margin:25%.
Security
The computer purchased out of loan is to be hypothecated to the Bank.
Third party guarantee, if loan exceeds Rs. 50000.
The hardware to be purchased must be of a reputed brand.
For more Details : www.bankofbaroda.com
Bank of India - Star Education Loan
Star Education Loan
OBJECTIVE & PURPOSE:
The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.
ELIGIBILITY CRITERIA:
a) STUDENT'S ELIGIBILITY:
Should be an Indian National;
Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
Good academic career.
The student should not have outstanding education loan from any other Institution.
Father/Mother should be co-borrower.
Branch nearest to the permanent residence of student will consider the loan.
b) ELIGIBLE COURSE:
(i) Studies in India (Indicative list):
Graduation courses : BA, B.Com., B.Sc., etc.
Post Graduation courses : Masters & Phd.
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Evening courses of approved institutes.
Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office.
Courses offered in India by reputed foreign universities with prior approval of Head Office.
Note :
1. Professional courses not approved by AICTE and conducted by Institutes not recognised by State Universities is outside the purview of the eligibility under the scheme.
2. Special scheme for students admitted to IITs, at concessional rate of interest.
(ii) Studies abroad:
Graduation : For job oriented professional/technical courses offered by reputed universities.
Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA - London, CPA in USA, etc.
3. EXPENSES CONSIDERED FOR LOAN :
Fee payable to college/school/hostel*
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments/uniforms.
Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
Travel expenses/passage money for studies abroad.
Purchase of computers - essential for completion of the course.
Insurance cover for the student.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
* As per brochure/ demand letter from the institution.
QUANTUM OF FINANCE :
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings :
Studies in India - Maximum Rs.10.00 lakh
Studies abroad - Maximum Rs.20.00 lakh.
MARGIN :
Upto Rs.4 lakh : Nil
Above Rs.4 lakh - Studies in India : 5%
Studies Abroad : 15%
· Scholarship could be included in margin.
· Margin to be brought in on year to year basis as and when disbursements are made.
SECURITY:
Upto Rs. 4 lakh : No security
Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee.
Above Rs.7.5 lakh : Collateral security of suitable value or at the discretion of the Bank suitable third party guarantee alongwith the assignment of future income of the student for payment of installments.
Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc.,in the name of Student/Parent/Guardian/Guarantor with suitable margin.
RATE OF INTEREST
Upto Rs.7.50 lacs – 2.00% below BPLR, Min. 11.25% p.a.
Above Rs.7.50 lacs - 1.00% below BPLR, Min. 12.25% p.a.
Simple interest during the repayment holiday/moratorium period. · Penal interest @2% for loans above Rs.4 lakh for the overdue amount and overdue period.
Int. Concession of 0.50%p.a. for woman beneficiaries for limits upto Rs.50,000/- and 1% for limits over Rs.50,000/-
1% int. concession if interest is serviced during moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period)
INSURANCE :
All the student borrowers are offered a specially designed Term Insurance cover and the premium can be included as an item of finance.
REPAYMENT:
Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is to be repaid in 5-7 years after commencement of repayment.
OTHER CONDITIONS :
i) Loan to be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipments/instruments to the extent possible;
ii) Student to produce mark list of previous term/semester before availing next installment ;
iii) Student / Parent to provide latest mailing address, in case of any change ;
iv) Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.,
For more Details : www.bankofindia.com
OBJECTIVE & PURPOSE:
The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.
ELIGIBILITY CRITERIA:
a) STUDENT'S ELIGIBILITY:
Should be an Indian National;
Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
Good academic career.
The student should not have outstanding education loan from any other Institution.
Father/Mother should be co-borrower.
Branch nearest to the permanent residence of student will consider the loan.
b) ELIGIBLE COURSE:
(i) Studies in India (Indicative list):
Graduation courses : BA, B.Com., B.Sc., etc.
Post Graduation courses : Masters & Phd.
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Evening courses of approved institutes.
Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office.
Courses offered in India by reputed foreign universities with prior approval of Head Office.
Note :
1. Professional courses not approved by AICTE and conducted by Institutes not recognised by State Universities is outside the purview of the eligibility under the scheme.
2. Special scheme for students admitted to IITs, at concessional rate of interest.
(ii) Studies abroad:
Graduation : For job oriented professional/technical courses offered by reputed universities.
Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA - London, CPA in USA, etc.
3. EXPENSES CONSIDERED FOR LOAN :
Fee payable to college/school/hostel*
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments/uniforms.
Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
Travel expenses/passage money for studies abroad.
Purchase of computers - essential for completion of the course.
Insurance cover for the student.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
* As per brochure/ demand letter from the institution.
QUANTUM OF FINANCE :
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings :
Studies in India - Maximum Rs.10.00 lakh
Studies abroad - Maximum Rs.20.00 lakh.
MARGIN :
Upto Rs.4 lakh : Nil
Above Rs.4 lakh - Studies in India : 5%
Studies Abroad : 15%
· Scholarship could be included in margin.
· Margin to be brought in on year to year basis as and when disbursements are made.
SECURITY:
Upto Rs. 4 lakh : No security
Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee.
Above Rs.7.5 lakh : Collateral security of suitable value or at the discretion of the Bank suitable third party guarantee alongwith the assignment of future income of the student for payment of installments.
Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc.,in the name of Student/Parent/Guardian/Guarantor with suitable margin.
RATE OF INTEREST
Upto Rs.7.50 lacs – 2.00% below BPLR, Min. 11.25% p.a.
Above Rs.7.50 lacs - 1.00% below BPLR, Min. 12.25% p.a.
Simple interest during the repayment holiday/moratorium period. · Penal interest @2% for loans above Rs.4 lakh for the overdue amount and overdue period.
Int. Concession of 0.50%p.a. for woman beneficiaries for limits upto Rs.50,000/- and 1% for limits over Rs.50,000/-
1% int. concession if interest is serviced during moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period)
INSURANCE :
All the student borrowers are offered a specially designed Term Insurance cover and the premium can be included as an item of finance.
REPAYMENT:
Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is to be repaid in 5-7 years after commencement of repayment.
OTHER CONDITIONS :
i) Loan to be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipments/instruments to the extent possible;
ii) Student to produce mark list of previous term/semester before availing next installment ;
iii) Student / Parent to provide latest mailing address, in case of any change ;
iv) Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.,
For more Details : www.bankofindia.com
Bank of Maharashtra Education Loan
Purpose
For studies in India
For studies abroad
Eligibility
You should be an Indian National
You should have secured admission to professional / technical courses through entrance test / selection process.
You should have, secured admission to foreign university / institutions
Amount For studies in India : Maximum Rs.10.00 lac
* For studies abroad : Maximum Rs. 20.00 lac
Margin
There is no margin up to Rs.4.00 lac.
For loans above Rs.4.00 lac.
For studies in India : 5%
For studies abroad : 15%
This may include own contribution as well as scholarship.
Rate of Interest
Click here to view the Interest Rate
Security
No security required upto Rs.4.00 lac loan.
Above Rs.4.00 lac securities are required to be furnished as under either singly or in combinations-
Government securities, public sector bonds.
Units of UTI, Shares (as per our approved list from time to time), Debentures.
L.I.C. Policies.
NSCs/KVPs, Banks own deposits
Mortgage of land and Building
The eligible securities are as above. However terms apply.
Value of collateral security after providing requisite margin, as stated above should be equal to the Quantum of finance.
Repayment by EMI
You get a repayment holiday of one year after completion of the course selected or 6 months after getting a job (after which your repayment will start).
The loan is then to be repaid in 5 years after commencement of repayment.
Processing Fee
Nil.
Expenses Considered
Tuition fees, hostel expenses, purchase of books/ equipments/ instruments etc. Travel expenses for studies abroad & other essential expenses.
Courses Eligible
Studies in India
School education including plus 2 stage of CBEC & State Education Boards.
Graduation courses/Colleges under universities approved by UGC.
B.A, B.Com, B.Sc. etc.
Post graduation courses, Masters and PhD
Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Computer certificate courses of reputed institutes accredited to Dept.of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA etc.
Courses offered in India by reputed foreign universities.
Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
Evening courses of approved institutes recognized by State/ Central Govt.
Other courses leading to diploma/degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ ICMR etc.
Studies abroad
Graduation : For job oriented professional/ technical courses offered by reputed universities.
Post graduation : MCA, MBA, MS etc.
Courses conducted by CIMA - London, CPA in USA etc.
Documents to be Furnished
Proof of being an Indian national i.e., School Leaving Certificate.
Letter confirming selection through Entrance Test.
Letter confirming admission to foreign university/institutions.
Brochure of the educational institution stating the amount of fees charged.
For more Details : www.csb.co.in
For studies in India
For studies abroad
Eligibility
You should be an Indian National
You should have secured admission to professional / technical courses through entrance test / selection process.
You should have, secured admission to foreign university / institutions
Amount For studies in India : Maximum Rs.10.00 lac
* For studies abroad : Maximum Rs. 20.00 lac
Margin
There is no margin up to Rs.4.00 lac.
For loans above Rs.4.00 lac.
For studies in India : 5%
For studies abroad : 15%
This may include own contribution as well as scholarship.
Rate of Interest
Click here to view the Interest Rate
Security
No security required upto Rs.4.00 lac loan.
Above Rs.4.00 lac securities are required to be furnished as under either singly or in combinations-
Government securities, public sector bonds.
Units of UTI, Shares (as per our approved list from time to time), Debentures.
L.I.C. Policies.
NSCs/KVPs, Banks own deposits
Mortgage of land and Building
The eligible securities are as above. However terms apply.
Value of collateral security after providing requisite margin, as stated above should be equal to the Quantum of finance.
Repayment by EMI
You get a repayment holiday of one year after completion of the course selected or 6 months after getting a job (after which your repayment will start).
The loan is then to be repaid in 5 years after commencement of repayment.
Processing Fee
Nil.
Expenses Considered
Tuition fees, hostel expenses, purchase of books/ equipments/ instruments etc. Travel expenses for studies abroad & other essential expenses.
Courses Eligible
Studies in India
School education including plus 2 stage of CBEC & State Education Boards.
Graduation courses/Colleges under universities approved by UGC.
B.A, B.Com, B.Sc. etc.
Post graduation courses, Masters and PhD
Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Computer certificate courses of reputed institutes accredited to Dept.of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA etc.
Courses offered in India by reputed foreign universities.
Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
Evening courses of approved institutes recognized by State/ Central Govt.
Other courses leading to diploma/degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ ICMR etc.
Studies abroad
Graduation : For job oriented professional/ technical courses offered by reputed universities.
Post graduation : MCA, MBA, MS etc.
Courses conducted by CIMA - London, CPA in USA etc.
Documents to be Furnished
Proof of being an Indian national i.e., School Leaving Certificate.
Letter confirming selection through Entrance Test.
Letter confirming admission to foreign university/institutions.
Brochure of the educational institution stating the amount of fees charged.
For more Details : www.csb.co.in
Bank of Punjab Education Loan
The high cost of education in premier institution need no longer stand between you and your career aspirations. If you have the drive, we will take care of your finances.
While you plan your education in world class universities, Education Loan will take care of all your expenses from accommodation and tuition fees to purchasing computers.
Yes, we believe in facilitating world class education to those who aspire. We believe in making careers happen !
Easily affordable terms and quick hassle free processing repayment on monthly installments.
So what are you waiting for ? Just walk into your nearest Centurion Bank of Punjab Branch and a team of executives will assist you in every way almost transporting you to your chosen university.
Eligibility
You are eligible if you :
Are a resident of India.
Have an offer / admission letter / are bonafide student of a college / university in India or abroad.
Expenses Covered
The following expenses can be claimed under the scheme
Admission / Tuition fee to be payable to College / University / Institution.
Air fare / Travel Expenses.
Boarding and Lodging expenses.
Books and Stationery expenses.
Instruments / equipment / computer expenses required for the course undertaken.
Examination / Library / Laboratory fee.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
Rate of Interest
As applicable from time to time.
Repayment Plan
Repayment of loan starts after studying & moratorium* period and can go up to a maximum of 7 years.
* Moratorium period is a max. of 6 months after course completion or one month after getting a job whichever is earlier.
Documents Required
The following papers/documents should accompany the Application Form to be executed by both the students and the parents/guardians.
Documents Required from both the student / co-applicant
Identity Proof : Copy of Passport / Driving Licence / Voters Identity Card / Income Tax Pan Card.
Residence Proof : Copy of Passport / Driving Licence / Voters Identity Card / Utility Bills
Age Proof : Copy of Passport / Driving Licence / Income Tax Pan Card / Birth Certificate.
Signature Verification.
One Singed Photograph ( On the face).
Abroad
Offer / Admission / Bonafide student letter from the university / college in India or Abroad.
Cost of the Course ( including living).
Copy of last examination passed result.
Copy of Passport in case of study abroad.
Documents required from the co-applicant
Income Proof : Form 16 or Income tax returns for the last two years.
Collateral Security Papers ( if any).
Any other document / information as needed by Bank, depending upon the case and purpose of loan.
NOTE :
1. All loans are at the sole discretion of Centurion Bank of Punjab Ltd.
2. Repayment of Loan through Post Dated Cheques (PDCs).
For more Details : www.centurionbop.co.in
While you plan your education in world class universities, Education Loan will take care of all your expenses from accommodation and tuition fees to purchasing computers.
Yes, we believe in facilitating world class education to those who aspire. We believe in making careers happen !
Easily affordable terms and quick hassle free processing repayment on monthly installments.
So what are you waiting for ? Just walk into your nearest Centurion Bank of Punjab Branch and a team of executives will assist you in every way almost transporting you to your chosen university.
Eligibility
You are eligible if you :
Are a resident of India.
Have an offer / admission letter / are bonafide student of a college / university in India or abroad.
Expenses Covered
The following expenses can be claimed under the scheme
Admission / Tuition fee to be payable to College / University / Institution.
Air fare / Travel Expenses.
Boarding and Lodging expenses.
Books and Stationery expenses.
Instruments / equipment / computer expenses required for the course undertaken.
Examination / Library / Laboratory fee.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
Rate of Interest
As applicable from time to time.
Repayment Plan
Repayment of loan starts after studying & moratorium* period and can go up to a maximum of 7 years.
* Moratorium period is a max. of 6 months after course completion or one month after getting a job whichever is earlier.
Documents Required
The following papers/documents should accompany the Application Form to be executed by both the students and the parents/guardians.
Documents Required from both the student / co-applicant
Identity Proof : Copy of Passport / Driving Licence / Voters Identity Card / Income Tax Pan Card.
Residence Proof : Copy of Passport / Driving Licence / Voters Identity Card / Utility Bills
Age Proof : Copy of Passport / Driving Licence / Income Tax Pan Card / Birth Certificate.
Signature Verification.
One Singed Photograph ( On the face).
Abroad
Offer / Admission / Bonafide student letter from the university / college in India or Abroad.
Cost of the Course ( including living).
Copy of last examination passed result.
Copy of Passport in case of study abroad.
Documents required from the co-applicant
Income Proof : Form 16 or Income tax returns for the last two years.
Collateral Security Papers ( if any).
Any other document / information as needed by Bank, depending upon the case and purpose of loan.
NOTE :
1. All loans are at the sole discretion of Centurion Bank of Punjab Ltd.
2. Repayment of Loan through Post Dated Cheques (PDCs).
For more Details : www.centurionbop.co.in
Axis Bank Education Loan Scheme
Study Power
Higher education within your reach
Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level.
Loan up to Rs 7.5 lacs for studies in India
Loan up to Rs 15 lacs for studies abroad
Quantum of Loan
The quantum of finance under the scheme is capped at Rs 7.5 lacs for studies in India and Rs 15 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs 50,000.
Margin:
No margin for loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.
Rate of interest:
Interest rates linked to PLR.
Role of the Guardian:
The parent(s) or guardian of the student would be treated as a co-applicant of the loan. His or her role would be, necessarily, like the primary debtor.
Security:
Third party guarantee and/or collateral security may be asked for in appropriate cases.
Additional Security:
Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the loan amount. The policy is kept alive during the currency of the loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.
Disbursement:
The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.
Penalty for early closure:
Nil.
For more Details : www.axisbank.com
Higher education within your reach
Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level.
Loan up to Rs 7.5 lacs for studies in India
Loan up to Rs 15 lacs for studies abroad
Quantum of Loan
The quantum of finance under the scheme is capped at Rs 7.5 lacs for studies in India and Rs 15 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs 50,000.
Margin:
No margin for loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.
Rate of interest:
Interest rates linked to PLR.
Role of the Guardian:
The parent(s) or guardian of the student would be treated as a co-applicant of the loan. His or her role would be, necessarily, like the primary debtor.
Security:
Third party guarantee and/or collateral security may be asked for in appropriate cases.
Additional Security:
Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the loan amount. The policy is kept alive during the currency of the loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.
Disbursement:
The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.
Penalty for early closure:
Nil.
For more Details : www.axisbank.com
Andhra Bank Education Loan Scheme
Dr. Pattabhi Vidya Jyothi Educational Loan
Eligibility:
Age :
12-30 years for studies in India
18 to 35 years for study in other countries
Qualifying Marks Exempted
Quantum of Loan:
Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad
Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Margin :
Upto Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
Security:
Upto Rs.4.00 Lacs guarantee of parent
Rs.4.00 to 7.50 lacs - guarantee of the parent
Above Rs.7.50 Lacs--Collateral Security of suitable value & guarantee of the parent
Interest:
Upto Rs.4.00 Lacs--(BMPLR -1.25) - Presently 11.75%
Above Rs.4.00 lacs--(BMPLR + 0.50) presently 13.50%
(BMPLR at present: 13.00%)
Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management
Rate of Interest is 9 % fixed.
ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC
Center, Gurukulam)Hyderabad ; Balaji Society, Pune ; ICFAI Business
School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
Eligibility
Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
Purpose
For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
Amount of loan
Maximum Rs.7.50 Lakh
Margin
10 %
Collateral security
NSCs, KVP, LIC policy surrender value, Govt. securities, Gold ornaments, Bank deposits, Building/flat of applicant /
co-obligant value not less than loan amount.
Gestation Period
One month
Repayment period
Maximum 60 monthly installments commencing after one month from the date of advance.
Prepayment Charges
2% flat on the prepaid amount for all Term Loans where the repayment is fixed beyond 36 months. i.e. installments paidahead of repayment schedule.
Other requirements
i) No objection certificate from the employer for prosecuting higher studies and to avail loan from the Bank.
ii)Salary undertaking letter from employer for recovery of installments.
iii) Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee
if needed,.
For more Details : www.andhrabank.in
Eligibility:
Age :
12-30 years for studies in India
18 to 35 years for study in other countries
Qualifying Marks Exempted
Quantum of Loan:
Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad
Purpose of Loan :
To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.
PLUS
AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Margin :
Upto Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
Security:
Upto Rs.4.00 Lacs guarantee of parent
Rs.4.00 to 7.50 lacs - guarantee of the parent
Above Rs.7.50 Lacs--Collateral Security of suitable value & guarantee of the parent
Interest:
Upto Rs.4.00 Lacs--(BMPLR -1.25) - Presently 11.75%
Above Rs.4.00 lacs--(BMPLR + 0.50) presently 13.50%
(BMPLR at present: 13.00%)
Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES
Wherever Andhra Bank has entered into MOU with
IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management
Rate of Interest is 9 % fixed.
ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC
Center, Gurukulam)Hyderabad ; Balaji Society, Pune ; ICFAI Business
School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating
NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.
B) AB Career Advancement Loan Scheme (ABCALS)
Eligibility
Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service.
Purpose
For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)
Amount of loan
Maximum Rs.7.50 Lakh
Margin
10 %
Collateral security
NSCs, KVP, LIC policy surrender value, Govt. securities, Gold ornaments, Bank deposits, Building/flat of applicant /
co-obligant value not less than loan amount.
Gestation Period
One month
Repayment period
Maximum 60 monthly installments commencing after one month from the date of advance.
Prepayment Charges
2% flat on the prepaid amount for all Term Loans where the repayment is fixed beyond 36 months. i.e. installments paidahead of repayment schedule.
Other requirements
i) No objection certificate from the employer for prosecuting higher studies and to avail loan from the Bank.
ii)Salary undertaking letter from employer for recovery of installments.
iii) Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee
if needed,.
For more Details : www.andhrabank.in
Education Loans
Eligibility Criteria:
(a) Student eligibility:
Student be an Indian National
Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.
(b) Courses Eligible:
Studies in India
Graduation Courses- B.A, B.COM, B.Sc. etc.
Post Graduation Courses: Masters Courses, Ph D, etc.
Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
Courses like- ICWA, CA, CFA etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course pursued abroad, the Institute should be recognised by the competent local aviation/ shipping authority.
Courses offered in India by reputed foreign universities.
Evening Courses of approved Institutes.
Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.
Studies Abroad:
Graduation: For Job oriented professional/technical courses offered by reputed Universities.
Post Graduation: MCA, MBA, MS etc.
Courses conducted by CIMA London, CPA in USA etc.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.
Quantum of Loan:
Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
Expenses Considered for Loan
Fee payable to College / School /Hostel
Examination/Library/Laboratory Fee
Purchase of Books / Equipments/ Instruments/ Uniforms.
Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.
Travel Expenses/Passage Money for studies abroad.
Purchase of Computers essential for completion of the course.
Insurance premium for student borrower.
Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.
Margin
For loan upto Rs 4.00 lacs: NIL
For loan above Rs 4.00 lacs:
(i) Studies in India: 5%
(ii) Studies abroad: 15%
Scholarship / Assistantship to be included in Margin.
Margin Money to be brought on year-to-year basis and disbursements are made on a pro-rata basis.
Rate of Interest:
| Loan Upto Rs. 4.00 lacs |
|
| For students of IIT / IIM/ ISB* | PLR-1.75% |
| For Others | PLR-0.75% |
| Loan above Rs. 4.00 lacs |
|
| For students of IIT / IIM/ ISB* | PLR-1.75% |
| For Others | PLR-1.00% |
*ISB means Indian School of Business, Hyderabad
Girl students may be provided a special relief of 1.00% in all cases as above.
Application of Interest:
Simple interest during moratorium period.
Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.
Repayment:
Repayment Holiday / Moratorium is Course Period + 1 year or 6 months after getting job, whichever is earlier.
Loan to be repaid within a maximum period of 7 years after commencement of repayment.
Security:
For IIT/IIM/ISB*
For loan upto Rs 10.00 lacs- No collateral security is required. co-obligation* of parents/ guardian required
*ISB means Indian School Business, Hyderabad
For others
For loan upto Rs 4.00 lacs: No collateral security is required. co-obligation* required For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Satisfactory third party guarantee & Co-obligation* required.
For loan above Rs 7.50 lacs: (a) Co-obligation * of parents/ guardian together with tangible collateral security of suitable value covering full loan amount, alongwith the assignment of future income of the student for payment of installments.
*(The loan documents would be executed by both the student and the parent/ guardian as joint-borrower i.e. co-obligator. The co-obligation should be parent / guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law.)
Processing Fee:
Processing Fees/ Documentation Charge:
For studies in India- Nil
For studies abroad -Rs.500/- upfront subject to the conditions that this amount would be adjusted against the loan amount once the loan is availed from us.
Mortgage Charges:
Actual expenses, if any, will be borne by the Student/Parent or Guardian.
Delivery Channel
From all of our branches (Presently more than 2150) spread throughout the country.
On-line sanction for leading 250 institutions within 72 hours.
Group Life Insurance Cover
-For entire loan liability in tie-up with LICI
(One time upfront premium, can also be financed by adding into project cost.), Prospective borrowers, who are not covered under the group insurance scheme, will be allowed to take a single premium term insurance cover equal to the loan amount, individually on their own or premium being a component of project cost for financing.
For more Details : www.allahabadbank.com
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