A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*
No processing / upfront charges will be levied on Education loans.
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured
Courses Covered:
Studies in India:
Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc
Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
Teacher training/ Nursing courses approved by Central government or the State Government
Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority
Studies abroad:
Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc offered by reputed universities
Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.
Expenses Covered
Fees payable to college/school/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course (maximum 20% of the total tuition fees payable for completion of the course)
Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)
Travel Expenses/Passage money for studies abroad
Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc