| Purpose : |
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| 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. |
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| 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. |
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| Amount of Loan: |
| Education in India - Max. Rs.10.00 lacs. |
| Education Abroad - Max. Rs.20.00 lacs. |
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| Security: |
For Loans upto Rs.4.00 lac
- No Collateral Security
- Co-obligation of parents/guardian is must.
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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
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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/
Banks 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.
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| Margin: |
| Upto 4 lacs - NIL |
| Above 4 lacs for education in India - 5% |
| Education Abroad - 15% |
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| Click Here for Rate of Interest |
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| 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. |
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| Special Rate: |
| 0.50% concession to women beneficiaries, SC/STs and disabled students. |
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| Process Fee: |
| Upto 4 lacs - Rs. 100/-. |
| Above 4 lacs for education in India - Rs. 500/- |
| Education Abroad - Rs. 1000/- |
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| Repayment: |
| Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier. |
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| Insurance: |
| Free Personal Accident Insurance upto Rs.20 lac. |
| Help Line No- 1800-180-1235, 0124-2340940 |
| For unresolved queries- 011-25718132 |
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| Click here to view list of Approved Educational Institutes |
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| Please Click to proceed, if you fulfill eligibility |