For higher education(after schooling).
Items eligible for Finance:-
Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments,
Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.
Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.
Amount of Loan:
Education in India - Max. Rs.10.00 lacs.
Education Abroad - Max. Rs.20.00 lacs.
For Loans upto Rs.4.00 lac
For Loans above 4 lacs and upto Rs.7.50 lacs
Above Rs.7.50 lacs
Upto 4 lacs - NIL
Above 4 lacs for education in India - 5%
Education Abroad - 15%
Concession on Rate of Interest :
Simple Interest shall be charged during study and moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study and moratorium period. This concession shall be allowed after expiry of moratorium.
0.50% concession to women beneficiaries, SC/STs and disabled students.
Upto 4 lacs - Rs. 100/-.
Above 4 lacs for education in India - Rs. 500/-
Education Abroad - Rs. 1000/-
Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.
Free Personal Accident Insurance upto Rs.15 lac.