Target Group Purpose

Meritorious students who are not gainfully employed and who have consistent good academic record with 60% marks and above in the last preceding public examination. To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.

Course of Study

• All full-time professional courses recognised by University/UGC/AICTE/Medical Council/State or Central Government.
• The period of study should not exceed 5 years
• Computer Courses: Part-time/Full-time in Institutes approved by Government of India (Department of Electronics)
• Duration of the course: Minimum - 12 months Maximum - 48 months ·

Purpose

To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.

Loan Limit

• For Computer Courses - Maximum : Rs.1.00 lakh
• For other professional courses - Maximum : Rs.3.50 lakhs
  

Margin

• Upto Rs.2.00 lakhs - 10%
• Upto Rs.3.50 lakhs - 15%
  

Repayment

• 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 lakh : 42 months
• For limits upto Rs.3.50 lakhs : 60 months
  

Credit Delivery
The loan should be availed from the branch nearest to the place of permanent residence of the student.

Course of Study Loan Limit

• Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years

Loan Limit

• Maximum - Rs.10.00 lakhs
  

Margin

• Upto Rs.5.00 lakhs - 15% ·
• Above Rs.5.00 lakhs - 25%
  

Rate of Interest

PLR + 1.5% (i.e. 14%)

Repayment

• 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 lakhs - Maximum 96 months

Eligibility

• The applicant should be an Indian National.
• He / She should have secured admission to professional / technical courses through Entrance Test / selection process or
• Should have secured admission to Foreign University / Institutions.

Purpose

• To meet the cost of education covering fee payable to college / school / hostel, exam fees, purchase of books / equipment's, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc.
  

Course of Study

Studies in India

1. School Education including plus 2 stage.
2. Graduation courses viz. B.A., B.Com., B.Sc., etc.
3. Post-graduation courses viz., Masters & Ph.D.
4. Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer certificate courses of reputed institutes accredited to Dept., of Electronics
5. ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc
6. Courses conducted by colleges/universities approved by UGC/Government of India/AICTE/AIBMS/ICMR etc.
   

Studies Abroad

1. For job-oriented professional/technical courses offered by reputed universities.
2. MCA, MBA, MS etc.
3. Courses conducted by CIMA - London, CPA in USA etc.

Maximum Permissible Amount of Loan

• For Studies in India - Rs.7.50 lakhs
• For Studies Abroad - Rs.15.00 lakhs
  

Family Income

• No restriction.
  

Margin

• Upto Rs.4.00 lakhs - NIL
• Above Rs.4.00 lakhs
  • For Studies in India -
  • 5% For Studies Abroad - 15%
    

Rate of Interest

• Upto Rs.4.00 lakhs - PTLR (12.50% p.a.)
• Above Rs.4.00 lakhs - PTLR + 1%

Interest will be charged quarterly (simple basis during study and holiday period and thereafter compounded and EMI fixed). Penal interest at 2% will be charged for above Rs.2.00 lacs for the overdue amount and overdue period

Holiday Period

• The course period PLUS 1 year or 6 months or immediately after getting a job, whichever is earlier.
  

Repayment

• The loan is to be repaid in 5 - 7 years after commencement of repayment.
  

Prime Security

1. No collateral security for loans upto Rs.4.00 lakhs.
2. For loans exceeding Rs.4.00 lacs, collateral security of suitable value atleast equivalent to 100% of the loan amount.
   

Place of availment

• The loan can be availed from the branch nearest to the place of domicile.