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Educational Loans in India By Indian Bank

Indian Bank

For Studies in India - Scheme Highlights

Purpose:

To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.

Approved courses:

Computer Courses:Part-time/Full-time in Institutes approved by Government of India (Department of Electronics)
Duration of the course: Minimum - 12 monthsMaximum - 48 months

Amount of loan:

For Computer Courses: Maximum : Rs.1.00 lac
For other professional courses:Maximum : Rs.3.50 lacs

Margin:

Upto Rs.2.00 lacs : 10%Upto Rs.3.50 lacs : 15%
Rate of Interest: Upto Rs.2.00 lacs : 12%Above Rs.2.00 lacs upto Rs.3.50 lacs : PLR +1% (i.e. 13.5%)

Period of loan:

Initial holiday period of 6 months after the completion of the course or immediately on getting a job whichever is earlier
For limits upto Rs.1.00 lac : 42 monthsFor limits upto Rs.3.40 lacs : 60 months

For Studies Abroad - Scheme Highlights

Course of Study: Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years

Amount of Loan:

Maximum - Rs.10.00 lacs

Margin: Upto Rs.5.00 lacs : 15%Above Rs.5.00 lacs : 25%

Rate of Interest: PLR + 1.5% (i.e. 14%)

Period of loan:

Interest to be serviced every quarter. Repayment of principal to commence 6 months after the completion of the course or immediately on getting a job whichever is earlier.For limits upto Rs.10.00 lacs - Maximum 96 months

Educational Loans by Other Banks
	Bank of India		Central Bank
	Dena Bank		Punjab National Bank
	State Bank of Hyderabad		State Bank of India
	Allahabad Bank		Bank of Baroda
	HDFC		UCO Bank
	IDBI Money Scholar		Vijaya Bank
	Indian Bank		Federal Bank Ltd.
	State Bank of Mysore		Citibank