Loan Type | Education loan |
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Purpose | To meet expenses for pursuing higher Education , at India or abroad. Graduation/post-gradution/medical Dental / engineering / management / Law / Pilot/air hostess |
Eligibility | Must have secured admission for the Desired course at the selected university / Institute |
Loan Amount | Maximum amount for study in India – Rs. 20.00 lakhs & for study Abroad – Rs.35.00 lakhs |
Margin | 40 % of value of property offered as security |
Mode Of Repayment | Standing instruction from our Bank Account,Debit ECS / Salary deduction frorm Parents employer. |
Repayment Period | 84 months ( Including course period + 6 Months moratorium ) |
Roi | 10.75 % for Female and 11.00 % for Male (for study in India ) 11.75 % for Female and 12.00 % for Male (for study in Abroad ) |
Security | Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank as a Prime Security |
Guarantors | Two acceptable guarantors |
Collaterals | If required financial assets like FD/NSC |
Processing Fees | Not applicable |
Other Charges | As per Bank's policy |
Banks Shares | 2.5 % of the loan amount Bank's shares |
Prepayment Charges | No pre closure charges |