||Up to Rs.4.00 Lakhs – Nil
Above Rs.4.00 Lakhs:
Studies in India - 5%
Studies in abroad - 15%
||In 5-7 years after repayment holiday (course period and 1 year or 6 months after getting job whichever is earlier)
||ROI (floating) p.a.
Upto Rs.7.50 lakhs
(BR + 2.75%)
(BR + 2.25%)
(In case of loan is used for purchase of equipments/instruments, the same is to be hypothecated to us)
For loans up to Rs.4.00 Lakhs:
Parents to join as Co Applicants & No security.
For loans above Rs.4.00 Lakhs and up to Rs.7.50 Lakhs:
Parents to join as Co applicants together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional case, waive third party guarantee if satisfied with the Net Worth / Means of parent/s who would be executing the documents as "Joint Borrower"
Above Rs.7.50 Lakhs: Parents to join as Co applicants together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.
Students admitted under Management Quota are also eligible for Educational Loan. However other norms / guidelines with regard to eligibility criteria are to be complied as per State/Central government norms
||Father/Guardian in case of Individual applicant