A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses :

All courses having employment prospects are eligible.

a . Graduation courses/ Post graduation courses/ Professional courses

b . Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan :

1. Fees payable to college/school/hostel.
2. Examination/Library/Laboratory fees.
3. Purchase of Books/Equipment/Instruments/Uniforms.
4. Caution Deposit/Building Fund/Refundable Deposit.
5. Travel Expenses/Passage money for studies abroad.
6. Purchase of computers considered necessary for completion of course.
7. Cost of a Two-wheeler upto Rs. 50,000/-.

Any other expenses required to complete the course like study tours, project work etc.

Amount of Loan :

For studies in India , maximum Rs. 10 lacs
Studies abroad, maximum Rs. 20 lacs

Interest Rate :

For loans up to Rs 4 lakh 10.50% p.a.

For loans above Rs. 4 lakh 11.50% p.a.

Processing Fees :

No processing fee/ upfront charges.

Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money.

Repayment Tenure :

Repayment will commence one year after completion of course or  6 months after securing a job, whichever is earlier.

Place of Study Loan Amount Repayment Period in Years :

In India Up to Rs. 7.5 lacs 5-7

Above Rs. 7.5 lacs 5-10

Abroad Up to Rs. 15 lacs 5-7

Above Rs. 15 lacs 5-10

Security :