YES

1. The applicant should be an Indian National
2. The applicant should have been selected for a professional/technical course, in graduation programme, degree or diploma in a college, university or institute approved by UGC/ICMR/AIBMS/AICTE etc.
3. The applicant should have secured admission to a job oriented course such as MS, MBA, MCA etc. in a recognized foreign university.

1. Identity proof
2. Admission letter of college, institute or university (in India or abroad)
3. Brochure stating the course fee charged by the institute

Rs 10 lakhs for education in India and Rs 20 lakhs for education in foreign countries.

1. 12.75% for loan amounts of Rs 4 lakhs or below
2. 12.25% for loan amounts between Rs 4 and Rs 7.50 lakhs
3. 11.50% for loan amounts above Rs 7.50 lakhs

• For loans up to Rs.7.50 lakh: Up to 10 years, in EMI (Loan + Int. accrued together), after moratorium
• For loan above Rs.7.50 lakh: Up to 15 years, in EMI (Loan + Int. accrued together), after moratorium
• Moratorium: Course Period + 1 Year or 6 months after getting job, whichever is earlier                                                                        
• Repayment Period (EMIs) 5 years

NIL

1) Up to Rs. 4.00 lac - Nil

2) Above Rs.4.00 lac -

3) 5% for studies in India

4) 15% for studies abroad

1. Up to Rs. 4.00 lakh: Clean, Parents to be co-borrowers
2. Above Rs.4.00 lakh and below Rs.7.50 lakh: No Collateral except Satisfactory third party guarantee
3. Above Rs.7.50 lakh: Collateral equivalent to quantum of finance after providing requisite margin

NA

NA

• Interest rate concession

1. 0.25% concession for Mahasaraswati accounts for 3 years
2. 0.50% concession for girl students
3. 0.50% concession to our existing Housing Loan borrower
4. 0.50% concession – for students getting admission in top rated Premier Institutions (list be made available)
5. Concession offered on providing additional guarantor for educational loans between Rs.4 Lakh to Rs 7.5 Lakh -0.25%
6. *Over all Maximum concession of 0.5% allowed

• Subsidy Scheme:-

1. Economically weaker students can take advantage of the Interest Subsidy scheme approved by the Government of India.

• The features of this subsidy scheme are as follows:-

1. This scheme only applies to Technical or Professional courses in India that are offered by colleges/ universities or institutes recognized by UGC/ICMR/AIBMS/AICTE etc.
2. Students who are expelled from any institution or if they discontinue the course due to reasons other than medical grounds are not eligible for this scheme.
3. The subsidy is applicable only during the moratorium period of the loan.
4. Only students with overall family income of less than Rs 4.5 lakhs per annum are eligible for this scheme.
5. Students will be required to provide income proof from authorized by State or Central Government officials.
6. Students can avail this interest subsidy only if they have not claimed subsidy under any other State or Central Government scheme.