EDUCATION LOAN

EDUCATION LOAN

RATE OF INTEREST : 9% p.a.

FEATURES

1. Loan is granted for approved graduation/ post graduation/ professional courses after completion of HSC (10+2).
2. Loan up to Rs.2.00 lacs without any collateral security.
3. Loan above Rs.2.00 lacs to Rs.30.00 lacs against collateral security of immovable property (Regd. Mortgage).
4. Margin 10% to be deposited by borrower.
5. Father / Mother / Guardian has to be co-borrower in the loan.
6. All the loan documents to be executed by both student and parents/ guardian as joint borrower.
7. The loan will be disbursed in stages as per the requirement/ demand of the Institution and will be paid directly to the Institution.
8. Repayment will commence one year after completion of course or 6 months after securing a job whichever is earlier. Interest amount should to be deposited regularly by the co-borrower every month.
9. Repayment of loan may be made within 7 years.
10. Students should also submit each semester result and fee receipt.

DOCUMENTS REQUIRED

1. Mark Sheet of last qualifying examination.
2. Proof of admission.
3. Schedule of expenses for the specific course
4. Two passport size photographs
5. ITR of last 2 years of co-borrower
6. Income proof of co-borrower
7. Complete detail of course, fee etc.

Note: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE