Purpose

You can take a loan for pursuing studies in recognised schools/ colleges / institutions to meet:

• Tuition and other fees
  
• Maintenance costs, books & equipment, etc.
  
• Cost of passage (for studies abroad)
  
• Caution fund/building fund/refundable deposit
  

Eligibility

• Should be an India National
  
• Secured admission to professional/ technical courses through entrance

Test/ Selection process

• Secured admission to foreign university/ Institution
  

Loan Amount

Need based finance subject to the 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

• Upto Rs.4 lacs: No margin
• Above Rs.4 lacs
  
  • Studies in India: 5%
    
  • Studies Abroad: 15%
    

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