Educational loans

  Spread Over BPLR Effective Rate (from 01.07.07)

Loans upto Rs 4 lacs

-1.00% 12.50%
Loans above Rs.4 lacs -0.50% 13.00%
Students satisfying DRI norms - Any Amount 4.00%
Students satisfying 60% handicap criteria - Any Amount 4.00%

Note on Educational Loans

The rate of interest on education loans mentioned above pertains to new scheme on education loans circulated under circular no. CHO/SISB/02/2001-02 dated 29th May 2001 .

Prior to it the Bank had its own scheme for education loans circulated under circular no CHO/SISB/23/99-2000 dated 9th September 1999 . Rate of interest under it shall be as follows. There would be no further disbursement under the old scheme

Limits up to Rs 2 Lacs BPLR 13.50%
Limits above Rs 2 Lacs BPLR + 1.5% 15.00%