Eligibility:

* Indian National who has secured admission to professional/ technical courses in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection Process after completion of H.S.C. (10 plus 2 OR equivalent).

Courses Eligible:

Courses eligible for study in India:

* Approved courses leading to Graduate/ Posy-Graduate degree and P.G. Diplomas conducted by recognized Colleges/ Universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
* Courses like ICWA, CA, CFA etc.
* Courses conducted by IIMs, IITs/ IISc, XLRI, NIFT, NID etc.
* Regular Degree/ Diploma Courses like Aeronautical, Pilot Training, Shipping etc. approved by Director General of Civil Aviation/ Shipping, if the course is pursued in India.
* Approved courses offered in India by reputed Foreign Universities.

Courses eligible for Study abroad:

* Graduation: For Job oriented professional/technical courses offered by reputed Universities.
* Post Graduation: MCA, MBA, MS etc.
* Courses conducted by CIMA London, CPA in USA etc.
* Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute duly recognized by the Competent University/ State Body/ Local Aviation/ Shipping Authority.

The information on recognition status of the Institute may be gathered from the following websites:

www.ugc.ac.in , www.aicte.org.in , www.education.nic.in (For studies in India)
www.webometrics.info (For studies abroad)

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:

* Studies in India: Maximum Rs. 10.00 lac
* Studies abroad: Maximum Rs. 20.00 lac.

Expenses Considered for Loan

* Fee payable to College / School /Hostel
* Examination/Library/Laboratory Fee
* Purchase of Books / Equipments/ Instruments/ Uniforms.
* Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.
* Travel Expenses/Passage Money for studies abroad.
* Purchase of Computers essential for completion of the course at reasonable cost.
* Insurance premium for student borrower.
* Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.
* Reimbursement of the fee paid at the time of counseling if applied within 60 days from the date of such payment.

Margin

* For loan upto Rs 4.00 lac: NIL
* For loan above Rs 4.00 lac:
(i) Studies in India: 5%
(ii) Studies abroad: 15%
* Scholarship / Assistantship to be included in Margin.
* Margin Money to be brought on year-to-year basis

Click here for Rate of interest

Click here for Processing Fees, Prepayment Penalty, Documentation Charges, Mortgage and other charges

Application of Interest:

* Simple interest during moratorium period.
* Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.

Repayment:

* Repayment Holiday / Moratorium is “Course Period + 1 year” or “6 months after getting job”, whichever is earlier.
* Loans up to Rs.7.50 Lac to be repaid within a maximum period of 10 years & those above Rs.7.50 Lac within a maximum period of 15 years after commencement of repayment period.

Security:

* For IIT/IIM/ISB(Indian School of Business, Hyderabad ), for loan upto Rs 10.00 lac- NIL, Only co-obligation of Parent / Guardian
* For others
+ For loan upto Rs 4.00 lacs: NIL, Only co-obligation of Parent / Guardian
+ For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Satisfactory third party guarantee & Co-obligation* of parent/ guardian.
+ For loan above Rs 7.50 lacs: Co-obligation * of parents/ guardian & tangible collateral security covering full loan amount.

Delivery Channel

* From all our Branches, Retail Banking Boutiques and Centralized Retail Banking Boutiques
* On-line approval facility for leading 250 institutions within 72 hours.

Value added Service

* FREE Debit Card

Insurance:

* Group Life Insurance Cover to the extent of loan liability for entire repayment period is available.
* Others
+ The parent / guardian would become co-borrower with the student
+ Education Loan would be sanctioned preferably through branches / RBBs/ CRBBs nearest to the place of residence of