|Purpose:||Payment of course fees.Purchase of books, equipments, instruments, uniform, payment of hostel fees, examination fees, study tours, passage expenses (for studies abroad)|
|Eligible Courses :||Studies in India:
Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc.
|Studies abroad:||Job oriented, technical / professional courses- (graduation / post graduation|
|Quantum of Finance:||Need based finance
For studies in India : Max. Rs.10.00 lacs
For studies abroad : Max. Rs.20.00 lacs
|Margin||Upto to Rs.4.00 lacs – Nil
Above Rs.4.00 lacs – for studies in India – 5%
studies abroad : 15%
|Security:||Loan is given jointly to the student and parent /guardian
Assignment of future income of the student
Upto Rs.4.00 lacs- No security
Above Rs.4.00 lacs upto Rs. 7.50 lacs –Satisfactory third party guarantee
(Note: If the proposed borrower prefers to offer collateral security of tangible assets (moveable or immoveable) instead of bringing collateral securities in the form of third party guarantee,
Above Rs. 7.50 lakhs: Collateral security equal to 100% of the loan amount.
|Repayment||Commences two years after completion of the course or six months after getting employment, whichever is earlier.
Loan with interest is repayable in equated monthly instalments within 5 to 7 years.
Loan can be availed from the branch nearest to the place of permanent residence of the parent / guardian.
Delhi Tel: 6286087
Bangalore Tel: ‘5589502
Chennai Tel: ‘8524790
Hyderabad Tel: 3225324,3220607
Kolkata Tel: ‘2474881