Education Loan Scheme Brand Brand New
A term loan given to Indian Nationals for pursuing advanced schooling in Asia or abroad where admission is secured.
- Repayment period of upto 15 years after Course Period + 12 months of payment holiday*
- Processing Fees
- Loans upto Rs. 20 lacs: NIL
- Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
- Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or alternative party guarantee
- Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and collateral security that is tangible
- Up to Rs 4 Lacs – Nil
- Above Rs 4 Lacs – 5% for studies in Asia, 15% for studies in abroad
- Repayment will commence one after completion of course year.
- Loan to be repa
- A term loan issued to Indian Nationals for pursuing degree in Asia or abroad where admission is guaranteed.
Studies in Asia
- Graduation, Post-graduation including regular professional and technical Degree/Diploma courses carried out by colleges/universities authorized by UGC/ AICTE/IMC/Govt. Etc Regular Degree/ Diploma Courses carried out by autonomous organizations like IIT, IIM etc
- Instructor training/ Nursing courses authorized by Central federal federal federal government or the local government
- Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. Authorized by Director General of Civil Aviation/Shipping/ concerned regulatory authority b. Studies abroad:
- Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc provided by respected universities Courses carried out by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in United States Of America etc. (more…)