Education Loan

Education Loan

  Particulars
Purpose Higher Education course approved by AICTE,and Govt.,approved university/college
Eligible Course For Approved Graduation, Post-graduation, P.hd., Research courses in Engineering, Pharmacy, Medical, Management, Computer
Loan Amount Domestic Education Loan: Maximum Rs. 100.00 Lacs.
Foreign Education Loan: Maximum Rs. 100.00 Lacs.
Margin
  • (i) For India -30% of fee, Hostel Fee, other eligible exp. Or 70% of valuation of mortgaged property whichever lower
  • For Foreign –25% of fee, Hostel Fee, other eligible exp. or 75 % of valuation of mortgaged property whichever lower
Repayment Period Maximum 120 months (Including moratorium period up to course period)
Rate of interest
  • For India — 9.25 %
  • For Foreign – 9.25%
Share linking 2.5% of the loan amount sanctioned
Guarantee Two guarantor possessing property and also Income tax-payer
Security (i) Up to Rs.300000/- Nil
(ii) Above Rs.300000/- Mortgage of Immovable property or lien/assignment of Govt. securities
Processing Fees Nil