Education Loan
| For Must have secured admission for the Desired course at the selected university / Institute | |
|---|---|
| Type of loan | Education loan |
| Purpose | To meet expenses for pursuing higher Education , at India or abroad. Graduation/post-gradution/medical Dental / engineering / management / Law / Pilot/air hostess |
| Repayment | 84 months ( Including course period + 6 Months moratorium ) |
| Mode of Repayment | Standing instruction from our Bank Account,Debit ECS / Salary deduction frorm Parents employer. |
| Margin | 40 % of value of property offered as security |
| Rate of interest | 10.75 % for Female and 11.00 % for Male (for study in India ) 11.75 % for Female and 12.00 % for Male (for study in Abroad ) |
| Who can borrow | Must have secured admission for the Desired course at the selected university / Institute |
| Loan amount | Maximum amount for study in India – Rs. 20.00 lakhs & for study Abroad – Rs.35.00 lakhs |
| Security | Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank as a Prime Security |
| Collateral | If required financial assets like FD/NSC |
| Guarantors | Two acceptable guarantors |
| Subscription of bank's shares | 2.5 % of the loan amount Bank's shares |
| Processing charges | Not applicable |
| Other charges | As per Bank's policy |
| Pre-payment charges | No pre closure charges |
Quick Access
CASH CREDIT LOAN
12.5% for Stock & Book Depts, 12% for Stock, Book depts & 60% Colleteral
EDUCATION LOAN
To meet expenses for pursuing higher Education , at India or abroad. Graduation / post-gradution / medical Dental / engineering / management / law Pilot / air hostess | 10.75 % to 12.00 %