A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Eligible Courses
a. Studies in India:
b. Studies abroad:
Expenses considered for loan
Any other expenses required to complete the course like study tours, project work etc.
Amount of Loan
Interest Rates
Processing Fees
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 |
Studies in India | Rs. 10.0 lacs | 5-7 |
Studies Abroad | Rs. 20.0 lacs | 5-7 |
Security
Amount | For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad |
Upto Rs. 4 lacs | No Security |
Above Rs. 4 lacs to Rs. 7.50 lacs | Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as “joint borrower”. |
Above Rs. 7.50 lacs. | Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments. |
All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law
Margin
Documentation Required
* Conditions Apply
Online Loan Application Form
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