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Educational Loans for Students in India. Details of Indian Banks offering Educational Loan in India:
boi
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Vidya Vardhini Scheme
Purpose:
Pursuit of
studies In India and abroad
Approved Courses:
Graduate and post-graduate courses in engineering,
computertechnology, medicine etc.All vocational
courses/job oriented diploma courses, recognised
by govt and universities.Similar courses
pursued in universities abroad. Full time
post graduate research in any of the aforesaid
subjects.
Eligibility:
Should be a citzen of India. For vocational
training courses and job oriented course
age of the individual should be between
15-28 years,and 18-30 in case of post graduate
courses and/or studies abroad.The applicant
should have a good academic record. For
studies abroad, the candidate should have
secured admission in a particular university
after having appeared in the specific entrance
examinations. The applicant should have
secured a minimum of 50% marks in the major
subject.In case of SC/STcandidates eligibility
norms may be relaxed.
Amount of loan:
The loan could vary depending on the
specific subject requirement.For studies
abroad Rs15 lakhs.For studies in India Rs
7.5lakhs
Margin
Upto Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%
Repayment
Within 15 years from the first dateof
disbursement, including moratorium period
Contact
:
Delhi Tel: 3312654, 3311557
Bangalore Tel: 2212485, 2271130
Chennai Tel: 8270041, 8276143
Hyderabad Tel: 3315263, 3324487
Kolkata Tel: 2481973, 2485703
Mumbai Tel: 2023020
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cb
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Cent Vidyarthi Scheme
Purpose: Aims at bringing Education within
the reach of students and help them improve their
prospects in life.
Courses Approved
For pursuing
Graduate/Post-Graduate, Management/Job-oriented
courses, Professional Courses of recognised Universities
/ reputed Institutes, Computer courses conducted
by NIIT, APTECH, CMC, C-DAC with duration of one
year and more.
For pursuing
Post-Graduate course in Science, Technology, Medicine,
Engineering, Management courses, Law, Accountancy
leading to Master's degree or Post-Graduate Diploma
in recognised University abroad.
Eligibility:
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Should
have consistent good academic record in
previous examinations with marks over 60
% in 10th.& 12th
or first grade in other cases.
(For SC/ST Second class will be sufficient).
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| Amount of Loan: |
India |
Upto
Rs.7.50 lakh |
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Abroad |
Upto
Rs.15 lakh |
| Margin: |
Up to
Rs.4 lakh |
No Margin |
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Over
Rs.4 lakh - In India |
5% |
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Studies
Abroad |
15% |
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( Relaxation
of loans upto Rs.50,000/-for SC/ST ) |
| Rate
of interest: |
Upto
Rs.4 lakh |
PLR |
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Above
Rs.4 lakh |
PLR +
1% |
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db
Dena Bank
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Dena Vidya Laxmi Education Loan Scheme
Courses approved
a. Studies in India :
- School education including plus 2 stage.
- Graduation courses : BA, B.COM., B.Sc.,etc.
- Post Graduation courses : Masters & PhD.
- Professional courses : Engineering, Medical,
Agriculture, Veterinary, Law, Dental, Management,
Computer etc.
- Computer certificate courses of reputed institutes
accredited to Dept. of Electronics
or institutes affiliated to university.
- Courses like ICWA, CA, CFA etc
- Courses conducted by IIM, IISc, IIT, XLRI NIFT
etc.
- Courses offered in India by reputed foreign universities.
- Evening courses of approved institiutes.
- Other courses leading to diploma/ degree etc.
conducted by colleges
Universities approved by UGC/ Govt/AICTE/ AIBMS/ICMR
etc.
- Courses offered by National Institutes and other
reputed private institutions. [Banks may have
the system of appraising other institution courses
depending on future
prospects/recognition by user institiutions.]
b. Studies abroad :
- Graduation: For job oriented professional
technical courses offered by reputed universities.
- Post graduation: MCA, MBA, MS, etc.
- Courses conducted by CIMA- Loanon, CPA in USA
etc.
Eligibility: The
student should be:
- An Indian National
- Have secured admission to professional/ technical
courses through Entrance Test /Selection process.
- Secured admission to foreign university/Institutions.
Amount of loan: Need
based finance subject to repaying capacity of
the parents/students with margin and the following
ceilings.
- Studies in India - Maximum Rs.7.50 lacs.
- Studies abroad - Maximum Rs.15 lacs.
Margin :
Inland (studies in India)
Upto
Rs. 4 lacs : Nil
Above Rs. 4 lacs : Studies in India : 5%
Studies Abroad : 15%
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Scholarship/assistantship to be included in margin.
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Margin may be brought in on year-to-year basis
as and when dibursements are made
on a pro-rata basis.
Rate of Interest :
Upto
Rs.4 lacs : PLR
Above Rs.4 lacs : PLR + 1%
Period of loan: Repayment holiday/ Moratorium : Course period +
1 year or 6 months after getting job, whichever
is earlier.
The loan to
be repaid in 5-7 years after commencement of repayment.
If the student is not able to complete the course
within the scheduled time, extension of time for
Completion
of course may be permitted for a maximum period
of 2 years. If the student is not able to complete
the course for reasons beyond his control, Sanctioning
Authority may, at his discretion, consider such
extensions as may be deemed necessary to complete
the course.
- The accrued interest during the repayment holiday
period to be added to the principal
and repayment in Equated Monthly Instalments(EMI)
is fixed.
- 1% interest concession may be provided for loanees
if interest is serviced during the study period
when repayment holiday is specified for Interest/repayment
under the scheme.
- PROCESSING CHARGES : No processing/upfront
charges are charged by the bank on Educational
loans.
Contact
:
Delhi Tel: 5724837, 5730400
Bangalore Tel: 6345563
Chennai Tel: 4310542, 4330438
Hyderabad Tel: 5505081
Kolkata Tel: 2472278, 2473860
Mumbai Tel: 2181231, 2189155
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pnb
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Punjab National Bank
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Vidya Lakshyapurti
Education Loan Scheme
Purpose
PNB's Education
Loan Scheme is designed to provide better educational
opportunities to bright and needy students and brings
within their reach all types of education (general,professional,technical
and vocational courses).
The scheme enables all types of needy students (viz.students
of plus 2 stage,graduation courses, post graduation
courses, Masters & Ph.Ds, professional, technical
, engineering, medical, veternary, law, dental,
management, computer, vocational courses, courses
like ICWA,CA,CFA, courses conducted by IIM,IIT,IISc,NIFT,
courses offered in India by reputed foreign universities
and all other types of courses offered by Govt./Semi-Govt/private
institutions in order to meet the costs for their
studies in India and abroad. Such courses would
include regular, part time and correspondence courses.
The costs include admission fees, books & stationery,
instruments required for the course, monthly fees,
examination fees,insurance premium for policy on
life of the borrowing student,caution deposit/building
fund/refundable deposit supported by bills/receipts,
expenses like study tours/project work/thesis etc.
required to complete the course, boarding and lodging
expenses, and travel expenses/passage money including
air fare for joining the course abroad.
Eligibility
1) Indian nationals, in the age
group of 16-40 years.For part time computer courses,
applicants in the age group of 16-45 years are eligible.
Applicants whose guardians have been appointed by
the court, should not be less than 21 years; such
students should have already passed atleast one
public examination.
2) Students who have scored pass marks in their
last qualifying examination and have secured admission
in the courses mentioned above.
3) The parents/guardian should have regular source
of income to the extent that they are able to repay
the loan in case of need/unforeseen circumstances.There
is no stipulation of ceiling on annual income of
the parents/guardians.
4) Employed persons intending to better their prospects
can also avail loan for improving their educational
qualifications and/or receive training in modern
technology in India/ abroad provided the education/training
received by them in India/abroad affords prospects
for their better employment.For such persons, 'NO
OBJECTION CERTIFICATE' from their employers is a
pre-requisite.
Amount of Loan
This is co-related to expenses involved
in taking up the course and the expected earnings
after qualifying, subject to a maximum of:
For studies in India:
Rs. 7.50 lacs
For studies abroad Rs.15.00
lacs
In case of part time computer courses, the extent
of loan should not exceed Rs. 50,000/- per annum
or fee fixed by the particular institutution (as
per prospectus less concession,if any), whichever
is less.
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Rate of Interest
Loan upto Rs. 4 lac
12.00% p.a. *
Loan over Rs. 2 lac upto Rs. 15 lac
13.00% p.a. *
Loan over Rs. 15 lac
15% p.a.*
*This is subject to change from time to time.
The Interest shall be charged at simple rate from
the date of disbursement till the commencement of
repayment of loan and thereafter, compound Interest
will be charged on reducing balance basis. 1/2%
interest concession may be provided for the loanees
if the interest is serviced during the study period.
Margin
NIL
Period of loan
Principal and Interest is repayable
in 84 monthly instalments. Repayment will commence
after two years of the completion of studies by
the borrower or one month after his/her getting
employment, whichever is earlier.
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sboy
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State Bank of Hyderabad
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Purpose
For pursuing studies in recognised
schools/ colleges/ institutions to meet: - Tution
and other fees
- Maintenance costs, books and equipment etc.
- Cost of passage (for studies abroad)
Eligibility
For School / College education in India.
a) Minimum second division (Pass marks for SC/ST)
b) Parents / guardians (Including persons engaged
in agriculture / allied activities having independent
regular source of income.
Loan Amount
(I) School / College education in India: (Upto
6 times the monthly net (take home) income of the
parents / guardian. Minimum loan of Rs. 4,000/-
Maximum Rs. 1lac.
(ii) Technical / Professional higher studies in
India and Abroad 90% of the cost of study, subject
to maximum of Rs. 8lacs.
Margin
10%
Interest
Rate
At competitive rates on reducing balance only.
Please check-up for latest rates at your
nearest branch Interest is compounded at quarterly
basis.
Period of Loan
(I) For School / College Education in India: Loans
to be repaid in a period of 36months, commencing
immediately after disbursal, by the parents / guardian.
(ii) For Technical / Professional higher studies
in India and abroad: The loan is to be repaid is
60 months after the completion of the course of
securing job, whichever is earlier. Regular periodic
repayment as much as possible should be made during
the period of study. Quarterly interest should be
paid regularly.
(iii) Permitted without any penalty.
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sbi
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State Bank of India
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Purpose
You can take a loan for pursuing studies in recognised
schools/colleges/ institutions to meet:
| Loan
Amount |
Interest Rate |
| Loans
upto Rs.4 lacs |
SBMTLR
presently 12.00 %p.a. |
| Loans
over Rs.4 lacs |
1% above
SBMTLR presently 13.00 % p.a |
* While interest is not required to be paid during
moratorium period, payment of the same before start
of repayment would entitle you to concession in
interest rate applied during the repayment holiday
Repayment
of loan
Repayment Holiday - Course period + 1 year or 6
months after getting job, whichever is earlier.
The loan
to be repaid in 5-7 years after commencement of
repayment
Prepayments permitted without any penalty
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Allahabad
Bank
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Purpose
You can avail of the attractive education loan scheme
if you have secured admission to or are already
studying in any of the country's IIMs or IITs or
in any of the designated institutes.
Eligibility
You are eligible for the education loan if you fulfill
the following criteria: A student who has secured
admission or is already studying in any IIM, IIT,
Indian Institute of Science, Bangalore, Jamnalal
Bajaj Institute of Management, Mumbai, XLRI Jamshedpur,
Roorkee Engineering College or Indian School of
Mines, Dhanbad.
Amount of Loan
The loan will be in the form of a package which
will cover entire tuition fees, hostel and mess
charges, library fees or any other fees / charges
payable to the institution subject to a maximum
of Rs 2.50 lacs.
Period of loans
Loans repayable In 48 Equated Monthly Installment
(EMI).The EMI will commence one year after the completion
of the course or whenever is earlier.The interest,
however, will be realised during the pendency of
the loan on a quarterly basis.
| Loan
Amount |
Interest Rate |
| Loans
upto Rs.4 lacs (In India) |
12.5%
pa, SBMTLR presently 12.00 %p.a. |
| Loans
above Rs 4 lacs |
1% above
SBMTLR presently 13.5 % p.a |
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Tenures:
Minimum of 12 months to a maximum of 48 months
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Contact
:
Delhi Tel: 3341152
Bangalore Tel: 2261599
Chennai Tel: 8282206, 8230267
Hyderabad Tel: 7637738
Kolkata Tel: 2401529
Mumbai Tel: 4923246
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Andhra Bank
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Maximum
Amount for India : Rs 100000
Maximum Amount Overseas : Rs 500000
Documents to be submitted: Bank documents, Academic
records
Interest Rate in India
Upto
400000 : 12%
Above Rs 400000 : 13.5% pa.
Interest Rate for Overseas
Loans Upto 400000 : 12%
Above Rs 400000 : 13.5% pa.
Collateral and Third Party Guarantee are required
Tenures:
Maximum of 5 years
Eligibility:
1st class marks in previous exams and selected for
proffesional course
Repayment 1 year after completion of course or 3
months after getting a job whichever is earlier.
When to Apply: After getting Admission in
college/institute
Time
taken to process documents:
1 Week
Contact:
Delhi Tel: 3350248
Bangalore Tel: 2242932
Chennai Tel: 4991868, 4994294
Hyderabad Tel: 4756023-25
Kolkata Tel: 2471359
Mumbai Tel: 2046160, 2047620
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Karnataka
Bank
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Eligibility:
Admission approval with previous satisfactory academic
record.
Maximum
Amount for India : Rs 800000
Maximum Amount Overseas : Rs 1000000
Documents
to be submitted : Previous academic record and
admission approval.
Time
To Process: Nearly a Month
Interest
Rate
In India:
Upto Rs 200000 : 13.5% pa
Above 200000 : 15.5% pa
For Overseas
Upto Rs 200000 : 13.5% pa
Above 200000: 15.5% pa
Collateral and Third party Guarantee required.
Tenures:
Eight Years
Repayment: At the end of completion of the
course.
Contact
:
Delhi Tel: 3341426, 3360872
Bangalore Tel: 3350525
Chennai Tel: 5342459, 5342092
Hyderabad Tel: 3202102, 3201029
Kolkata Tel: 2472181, 2475737
Mumbai Tel: 2663725, 2663256
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bob
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Bank of Baroda
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Period of
loans: 5 years
Purpose: Tuition feesLibrary/Other institution
charges Hostel/Mess charges Travel expenses abroad
(one way only)
Amount of loan: For studies in India: Rs.
550,000
For studies abroad: Rs.1.5 million
Interest rate: Depending on the loan amount
with maximum of 13.77%
Margin Required: Maximum 15%, depending
on the loan amount. 20% of the loan amount in case
of abroad studies
Period of loan: The loans are to be repaid
starting from 6 months after course completion or
1 year after getting a job
Contact
:
Delhi Tel: 3321562,3325147
Bangalore Tel: '5586137, 5595347
Chennai Tel: '8283652
Hyderabad Tel: '3237760, 3230450, 3230368
Kolkata Tel: '4754047
Mumbai Tel: 2656727
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bob
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Development Credit Bank Ltd.
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Eligibility
:Repayment 6 months after completion of course
Maximum
Amount for India : Rs 500000
Maximum Amount Overseas : 75 % of the course fee.
Documents
to be submitted : Marks list, Income proof of
guardian, evidence for selection to the courses,
copy of ration card, details of admissible expenses.
Time
To Process: 1 Week
Interest
Rate
In India
Upto Rs200000 : 13.5%
Above Rs200000 : 15.5 %
For Overseas
Upto Rs 200000 : 13.5% ,
Above Rs 200000 : 15.5 %
Collateral and Third Party Guarantee required.
Tenures
: 3 to 5 years in India and maximum 4 years
abroad.
Contact
:
Delhi Tel: 3312675, 3321326
Bangalore Tel: 5595071
Chennai Tel: 8312267-70
Hyderabad Tel: 3202191, 3205764
Mumbai Tel: 2872465
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bob
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Bank of Rajasthan
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Eligibility:
Good academic records and selection for the course
Maximum
Amount for India : Rs 150000
Maximum Amount Overseas : Rs 300000
Documents
to be submitted: Mark sheet, proof of admission,
proof of cost of course
Time To Process: A Forthnight
Interest
Rate
In
India
Upto
Rs 25000: 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.
For
Overseas
Upto
Rs 25000 : 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.
Tenures:
Till completion of course
Repayment: 3 to 5 years or earlier.
Contact
Delhi Tel: 5712934, 5729817
Bangalore Tel: 2265436, 2260540
Chennai Tel: 5383416
Hyderabad Tel: 4705920, 4743684
Kolkata Tel: 2201892, 2207912
Mumbai Tel: 2870307
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Bank of Maharastra
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Eligibility: Should have secure admission
for in School/College/Institute
Maximum
Amount for India : Rs 200000
Maximum Amount Overseas : Rs 750000
Documents
to be submitted: Pass Certificate of Previous
School/University/Institute
Time To Process : A Fortnight
Interest
Rate
India:
13.75%
Overseas: 13.75%
Collateral and Third Party Guarantee required
Tenures:
Maximum of 5 years
Contact
:
Delhi Tel: 3321754
Bangalore Tel: 2264997
Chennai Tel: 4364410
Hyderabad Tel: 7843238
Kolkata Tel: 2203996, 2207122
Mumbai Tel: 2661295, 2652595
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Indian Overseas Bank
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Eligibility: Should have a good academic
record.
Maximum
Amount for India : Rs 200000
Maximum Amount Overseas : Rs 600000
Documents
to be submitted : Mark sheets,addmission approval,address
proof,photgraph,income proof .
Time
To Process: 1 Week
Interest
Rate
In India
Upto Rs 400000 : 12% pa
Above Rs 400000 : 13% pa.
For Overseas
Upto Rs 400000 : 12% pa
above Rs 400000 : 13% pa.
Collateral and Third Party guarantee required.
Tenures
: Maximum of five years
Repayment: Maximum after 3 months of completion
of course or the date of joining of job which ever
earlier
Contact
:
Delhi Tel: 3362003
Bangalore Tel: 2266207
Chennai Tel: 8524142
Hyderabad Tel: 4755324
Kolkata Tel: 2299700
Mumbai Tel: 2182226
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hdfc
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HDFC Bank Educational Loans
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Purpose: HDFC gives loans to students to
partly meet their educational expenses / costs for
pursuing specific higher educational courses at
institutes approved by HDFC. Loans are given to
students who are citizens of India. The student
should have a consistently good academic record,
and admission to an approved Educational Institute
for pursuing a recognized course.
Eligibility: Students enrolled with an approved
Educational Institute and desirous of availing the
education loan can make an application, with the
earning parent / guardian being the co-applicant
to the loan. Currently, new entrants and existing
students of only select leading national educational
institutions are eligible to apply for education
loans. Please check with your nearest HDFC Office
for the list of approved institutions.
Amount of loan: Loans can be availed upto
a maximum of 90% of the total cost as determined
by HDFC. The costs would generally cover expenses
incurred towards the course fee, library charges,
hostel and mess charges, cost of books and equipment.
HDFC lends upto a maximum of Rs. 2,00,000 on an
Education Loan.
The period of the loan is determined on
the merits of each case but would not exceed 5 years.
The repayment can be accelerated on completion of
the course, considering the earning capacity of
the student. HDFC's main concern is to help individuals
comfortably repay the borrowed amount.
Rate of interest
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Loan
Amount (Rs.)
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Rate
of Interest - % p.a.
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Upto
2,00,000
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14.0
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Contact
:
Delhi Tel: 6103146, 6185944
Bangalore Tel: 2274600, 2219473
Chennai Tel: 8553838
Hyderabad Tel: 3233875
Kolkata Tel: 2478256
Mumbai Tel: 2820282
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uco
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UCO Bank
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Purpose: The scheme extends a helping hand
to a meritorious student desirous of pursuing higher
studies either in India or abroad.
Courses approved
Studies in India
- Graduation Courses in recognised universities
leading to degrees like B.A., B.Sc, B.Com, B.Tech,
B.E., MBBS etc.
- Diploma/Certificate courses from recognised universities
or Govt. recognised institutes in disciplines
of Engineering, Medicine, Agriculture, Computer,
Tourism, Hotel Management and such other technical/professional
courses.
- Chartered Accountancy and Cost & Work Accountancy
from the Institute of Chartered Accountants of
India and Institute of Cost & Works Accountants
of India respectively.
Post Graduate Courses leading to degrees like
M.A., M.Sc., M.E., M.Tech, MBA, M.S. M.D. etc.
- Post Graduate Research studies in Pure &
Applied Sciences, Economics and other Social Sciences
etc. in a recognised university leading to Doctoral
Degree.
Studies Abroad
Full time Post Graduate or Doctoral Programmes in
Engineering, Medicine, Technology (Pure & Applied
Sciences), Agriculture, Computer Science, Business
Administration, Economics and other Social Sciences.
Amount of loan
Actual Loan Amount will be determined as per requirements
of the student subject to maximum of Rs.4 lakh.
The loan amount under the scheme would consider
meeting the following expenses:
- Course Fees
- Hostel/Boarding Fees
- Cost of Books/Journals
- Stationery & Equipment required for the course
- Examination Fees
- In addition to above, for studies abroad, cost
of air passage may be considered if requested
by the student.
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idbi
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IDBI Bank
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Purpose
IDBI has structured a loan facility for Professional
/ Management / Foreign University education.
Courses approved
Indian Universities
For Professional Courses i.e. B.E., B.Tech., M.B.B.S.
Post Graduate Courses i.e. M.E., M.Tech., M.S.,
M.D., M.B.A., M.C.A., etc. recognized by AICTEFor
part time / on-line distance learning courses (subject
to terms & conditions)
Foreign Universities
For Graduate/Post Graduate/Research/Doctorate studies
that insist on TOEFL, GRE, GMAT scores.
Eligibility
Indian Universities
For Graduate courses : at least 75% in the +2 stage.
For Post Graduate Courses : first class graduates.
Foreign Universities
Proof of TOEFL, GMAT, GRE score card, and 1-20 admit
card.
Age
of the applicant should not be more than 30 years
for Indian Universities and 35 for Foreign Universities.
Age of the parent / Guarantors should be below 55
Years. The annual income of the family should not
be less than Rs. 3 lakhs.
Amount of loan
For Indian Universities, actual tuition and
other fees, but not exceeding Rs. 5 Lakh for the
entire duration of the course.
For
Foreign Universities, considering that in addition
to fees, there are travel / preparatory expenses,
the loan amount shall not exceed Rs. 15 Lakh, in
all.
- Interest rates
- Long term Prime Lending Rate + 1% p.a. + taxes
- Processing Fees: Rs. 1000 at application, and
Rs. 500 p.a. thereafter
- Cost of documentation / legal expenses at actuals
Period of loans
- Graduate Studies: Maximum moratorium period of
5 years including the actual duration of the course.
After which the loan should be repaid within the
next 3 years.
- Post Graduate Studies: Moratorium period of 2
years i.e. the course duration. Loan repayment
within the next 3 years.
- No prepayment penalties levied
- In fact, there are incentives for prompt repayment.
Like refund of the entire processing fee, if not
a single installment is missed/delayed.
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vijaya
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Vijaya Bank Educational Loan
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Eligibility: For studies in IndiaA student
of Indian Nationality is eligible to apply for the
loan provided he/she has secured admission to the
institution/college/university.
Approved courses: Full time courses (Diploma,
Teachers' Training, graduation or Post graduation
and Doctorate studies) in all branches of medicine,
engineering, agriculture, CA/ICWA/ACS, Computer
Science, Architecture, Business Administration,
Law, Arts, Science, Commerce, Hotel Management,
Nursing and Pharmacy (except Foreign University
Degree courses offered in India)
Amount of loan: The bank provides a loan
of Rs.10000/- for a student's education at a junior
college; teacher's training course and other short-term
courses that are approved by the Government.Loans
worth Rs.50000/- are also offered to students who
wish to do a polytechnic course/computer course,
or desire to pursue graduation/post-graduation in
any discipline, such as arts, commerce, science,
pharmacy, agriculture & fisheries.A maximum
amount of Rs.4 lakhs for graduation/post-graduation
in engineering, architecture, dental science, medicine,
chartered/cost accountancy & business administration
courses, offered by a reputed institution.
Margin: No margin for loans up to and inclusive
of Rs.25000/- and a minimum margin of 25% for loans
above Rs.25000/-
Repayment: Repayment of the loan commences
from the 6th month after the student completes his/her
course or the 3rd month of securing a job, whichever
is earlier. The loan is to be repaid within a maximum
period of 6 months depending upon the repayment
capacity.
For studies abroad :
Eligibility: Meritorious students who have been
selected for any course in foreign universities
are eligible to avail of the foreign education loans.
Amount of loan: The bank provides Rs. 10,00,000/-
as a loan for his/her education at a foreign university.
Margin: 25% (To be brought pro rata as and
when disbursements are made)
Period of loan: The loan is repayable in
60 monthly installments. Repayment of the loan is
to commence 6 months after the student completes
the course or completion of 3rd month after securing
a job, whichever is earlier.
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vijaya
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Catholic Syrian Bank
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Eligibility:
Minimum age 21 years having 60% marks throughout
and have admission approval.
Maximum Amount for India : Rs 500000
Maximum Amount Overseas : Rs 500000
Documents
to be submitted : Academic Records and admission
approval.
Time To Process: 1 Week
Interest
Rate
In India
Upto Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
For Overseas
Upto
Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
Collateral needed if loan is above Rs 25000
Third Party Guarantee is also required.
Age
: Between 21 years to 65 years.
Tenures: Maximum 40 months
Repayment: Maximum after 3 months of completion
of course or the date of joining of job which ever
earlier
Contact
Delhi Tel: 3715951, 3328747
Bangalore Tel: 8462878
Chennai Tel: 8526397, 8520125
Hyderabad Tel: 3203112, 3202985
Kolkata Tel: 2381455, 2482713
Mumbai Tel: 2660239, 2665641
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ib
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Indian Bank
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For Studies in India - Scheme Highlights
Purpose: To meet the cost of education covering
tuition fees, Exam fees, Development fees, Hostel
fees, books, instruments etc.
Approved courses: Computer Courses:Part-time/Full-time
in Institutes approved by Government of India (Department
of Electronics)
Duration of the course: Minimum - 12 monthsMaximum
- 48 months
Amount of loan: For Computer Courses: Maximum
: Rs.1.00 lac
For other professional courses:Maximum : Rs.3.50
lacs
Margin: Upto Rs.2.00 lacs : 10%Upto Rs.3.50
lacs : 15%
Rate
of Interest: Upto Rs.2.00 lacs : 12%Above Rs.2.00
lacs upto Rs.3.50 lacs : PLR +1% (i.e. 13.5%)
Period of loan: Initial holiday period of
6 months after the completion of the course or immediately
on getting a job whichever is earlier
For limits upto Rs.1.00 lac : 42 monthsFor limits
upto Rs.3.40 lacs : 60 months
For Studies Abroad - Scheme Highlights
Course of Study: Any Graduate/Post-graduate
courses with good employment prospects. The period
of study should not exceed 5 years
Amount of Loan: Maximum - Rs.10.00 lacs
Margin: Upto Rs.5.00 lacs : 15%Above Rs.5.00
lacs : 25%
Rate of Interest: PLR + 1.5% (i.e. 14%)
Period of loan: Interest to be serviced
every quarter. Repayment of principal to commence
6 months after the completion of the course or immediately
on getting a job whichever is earlier.For limits
upto Rs.10.00 lacs - Maximum 96 months
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fbl
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Federal Bank Limited
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Federal Vidya Loan Scheme
Purpose: The purpose of the loan is to make
available financial assistance to the needy and
deserving students of bright academic record so
as to enable them to continue higher studies in
India or Abroad either in diploma/graduation or
post-graduation level in Arts, Science, Commerce,
Management, Medicine and Engineering.
Eligibility: Under this scheme the loan
can be sanctioned to any student of Indian nationality
who intends to join any of the approved courses
in an Educational Institution recognised by the
government or any University in India or Abroad.
Courses Approved:
A - Category:- Academic courses such as Diploma,
Graduate/Post-Graduate courses in Arts, Science
and Commerce etc.,
B - Category:- Professional courses such as Diploma,
Graduate/Post-Graduate courses in Engineering, Medicine,
Dental Science, Agricultural Science, Veterinary
Science, Computer Science, Nursing, Pharmacy, Business
administration, Law etc.,
Type of Loan:
The loan account shall be operated as a term loan.
To facilitate flexibility in operation, future debits
on account of recurring expenses in each semester/year
can be made to this account.
Margin:
The margin is NIL for courses in India. For foreign
studies a minimum margin of 10% is to be insisted
on.
Amount of Loan:
(Rs in Lakhs)
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Place of studies
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Minimum
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Maximum
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In India
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0.50
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5.00
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Abroad
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0.50
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10.00
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Rate of Interest:
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Upto Rs.5 lakhs
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13.5 %
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Above Rs.5 lakhs
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14.5 %
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Period of Loan:
The period of the loan consists of the period required
for the completion of the course and that meant
for repayment of the loan. The repayment should
begin within 12 months on the completion of the
course or after the student secures employment whichever
is earlier.
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Maximum period of the loan
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11 Years
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Minimum period
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3 Years
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sbom
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Oriental
Bank of Commerce
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Eligibility:
Must have obtained admission in a reputed institute
in india or abroad. Repayment : After completion
of course
Maximum
Amount for India: Rs 750000
Maximum Amount Overseas : Rs 1500000
Documents
to be submitted : Admission slip, residence
proof, age proof, letter from institute
Time
To Process: A Fortnight
Interest
Rate
In India
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
For Overseas
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
Collateral and Third Party Guarantee required.
Tenures:
Maximum of Seven Years
Contact:
Delhi Tel: 3316777
Bangalore Tel: 2219762, 2219767
Chennai Tel: 8522940, 8550068
Hyderabad Tel: 3201803, 3201298
Kolkata Tel: 2821514, 2294823
Mumbai Tel: 2189286
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