|Eligibility||The applicant should be an Indian National. He/She should have secured admission to professional/technical courses in India/Abroad through Entrance Test/Merit based selection process.|
|Amount of Loan||For studies in India – Rs.15.00 lakh |
For studies Abroad - Rs.25.00 lakh
|Margin||Upto Rs.4.00 lakhs - Nil. Above Rs.4.00 lakhs:For Studies in India - 5%. For Studies Abroad - 15%.
|Interest Rates||Please see the Interest Rate link on home page|
|Repayment||Up to Rs.7.50 lakh : Repayable in 10 years|
Above Rs.7.50 lakh: Repayable in 15 years
|Security||Upto Rs.4.00 lakhs - Coobligation of parents. No Security. Above Rs.4.00 lakhs and upto Rs.7.50 lakhs - Coobligation of parents together with collateral in the form of a satisfactory third party guaran. Above Rs.7.50 lakhs - Coobligation of parents together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of instalments.|
|Salient Features||To meet the cost of education covering fee payable to college/school/hostel, exam fees, purchase of books/equipments, travel expenses/passage money for studies abroad, purchase of computers essential for completion of the course etc.|
|Other Requirements/Details||* Holiday Period : Course period plus 1 year or 6 months after getting job, whichever is earlier|
* Family Income : There is no restriction. The main emphasis is that no deserving student is denied an opportunity to pursue higher education for want for financial support.
* Place of availment : The loan is to be availed from the branch nearest to the place of domicile of the student.
* Course of study in India : Diploma/Graduation/Post graduation courses in various disciplinesComputer Certificate courses in reputed institutes accredited to the Department of Electronics.
* Course of study abroad : Job-oriented professional/technical courses offered by reputed universities, MCA,MBA, MS etc.Courses conducted by CIMA - London, CPA in USA etc.
|* BPLR and BASE RATE - Available in Home Page|| |