A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
All courses having employment prospects are eligible.
Graduation courses/ Post graduation courses/ Professional courses
Other courses approved by UGC/Government/AICTE etc.
Expenses considered for loan
Amount of Loan
For studies in India, maximum Rs. 7.50 lacs
Studies abroad, maximum Rs. 15 lacs
For loans upto Rs. 4 lakh 11.25% p.a.
For loans above Rs. 4 lakh 12.25% p.a.
No processing fee/ upfront charges
Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.
|Amount||Studies In India|
|Upto Rs. 4 lacs||No Security|
|Above Rs. 4 lacs to Rs. 7.50 lacs||Third Party Guarantee|
|Above Rs. 7.50 lacs to Rs. 15 lacs||Tangible Collateral security of suitable value of loan or third party guarantee.|
For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs upto Rs.7.50 lacs.
Studies in India: 5%
Studies Abroad: 15%