State Bank of Saurastra

GYAN BHARATI EDUCATION LOAN ..... (If you have the will...... We have the way)

To provide financial assistance for higher education in India and abroad for those secured admission in recognized/ reputed institutions.

Loans depending upon the course requirements, future prospects. Need based finance considered subject to repayment capacity with a ceiling of Rs. 10 lacs for studies in India and Rs. 20lacs for studies abroad.

Expenses considered include fees payable to college/ school/hostel etc. essential for completion of the course.

No margin, no security for loans upto Rs.4 lacs. For loans above Rs.4 lacs to Rs.7.50 lacs security only in terms of suitable third party guarantee, for loans above Rs.7.50 lacs suitable collateral security equal to 100% of loan amount and a margin of 15% for studies abroad and 5% for studies in India.

No minimum marks criteria.
Repayment within 5-7 years after getting the employment or 1 year after completion of course.

Interest charged on simple rate basis during the course period (moratorium). 1% interest remission, if the interest is serviced during the moratorium period.

No processing charges.