YES

1) The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc. either at the graduate or post-graduate level.

2) Secured at least 50% marks during HSC & Graduation

3) Secured admission in India or Abroad through entrance test/Merit based selection process post completion of HSC (10+2)

1. Passport
2. Voter ID card
3. Driving license
4. PAN card
5. IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant

Proof of residence (any one of the following):

1. Bank account statement
2. Latest electricity bill
3. Latest mobile/telephone bill
4. Existing house lease agreement
5. Bank Statement/Pass Book of last 6 months
6. Optional – Guarantor Form
7. Copy of admission letter or the Institute along with Fees schedule
8. Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses

• Minimum - Rs. 50,000
• Maximum upto Rs. 75 lakhs* for studies in India or Abroad
• The loan will cover tuition fees, hostel charges (if any), cost of books, etc.
• *The quantum of Loan can be determined, subject to eligibility and cost, for case-to-case approval.

1. Upto 4 lacs - 15.00%
2. Loans greater than Rs.4 lacs and upto Rs. 7.5 lacs -14.50%
3. Loans greater than 7.5 lacs -13.50%                     
4. Marginal Cost Based Lending Rate (MCLR) – 8.15%

1. No margin on loans upto Rs. 4,00,000
2. 5% margin on loans above Rs. 4,00,000 for studies within India
3. 15% margin on loans above Rs. 4,00,000 for studies overseas

1) Third party guarantee and/or collateral security may be asked for in appropriate cases

2) Additional security in the form of an LIC Policy in favour of the Bank with the sum assured being at least 100% of the education loan amount may be required.

3) Annual premium for the same may be included while computing the loan requirement and future income of the student needs to be assigned in favour of the Bank to meet instalment obligations

4) Tangible collateral security of suitable value acceptable to bank alongwith the assignment of future income of the student for payment of installments.

1. Avail high value loans
2. Attractive Rates of Interest
3. Benefits from No margins - can be articulated better from a consumer perspective
4. Avail Loans for a variety of courses
5. Easy Loan Disbursal
6. Apply for an Education Loan with a Guardian
7. Secure your loan
8. Enjoy easy disbursal of the loan

1) Central Government Interest Subsidy Scheme for Economically Weaker Section for Education Loans

2) Government of India, Ministry of HRD vide letter no. F. 11-4/2010 – U.5(i) dated 25th May 2010 have formulated a scheme to provide full interest subsidy during the period of moratorium i.e. Course Period plus one year or six months after getting job, whichever is earlier. This scheme is available for loans taken by students belonging to economically weaker sections (EWS) (where annual parental income from all sources is up to and inclusive of `4.5 lakhs)

3) under the IBA approved Model Educational Loan Scheme, for pursuing any of the approved courses of studies in technical and professional streams, from recognized institutions in India.