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Education Loan

Financial assistance to support students for pursuing higher professional/ either at graduate or post graduate level in India and abroad.

Purpose – To meet expenses for pursuing higher studies from Recognized Institute/ University in India/ abroad.

Maximum loan amount –
Rs. 10.00 lacs for pursuing higher studies in India.

Rs. 20.00 lacs for pursuing higher studies in abroad.

Period of loan –
Maximum 54 months (excluding Moratorium period).

Moratorium Period –
Course tenure of education + 6 months if required subject to maximum period of 30 months.

Rate of Interest – Click to Get

Security –
A. 125% of loan amount if security is in the form of immovable property.

B. 100% of loan amount in case of liquid security by way of FD, NSC, KVP, assignment of LI policy ( Surrender Value)

C. May be waived for loan upto Rs. 2.00 lacs.

D. Desirable to have term insurance policy of student applicant for loan exceeding Rs. 5.00 lacs.

Guarantors –
Minimum two guarantors acceptable to bank.

Share holding –
2.5% of loan amount if loan is secured or 5% if loan is unsecured. Guarantors to become ordinary member of bank.

Process Fee –
1% of the loan amount.

Other General terms & Conditions – Please contact nearest branch.