Education Loan

Loan Type Education loan
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