Pursue higher education in India or Abroad.
Courses covered: Graduation or Post Graduation/Degree Course as under: (1) Commerce, Science, Engineering and Management. (2)Medicines-Allopathic, Homeopathy, Ayurveda. (3)Other Professional Courses: CS, CA, ICWA. (4) Any other professional courses not covered above, but recognized by University shall be covered. (4) Equipment’s required for completion of courses shall also be covered. Diploma courses recognized by Universities
Admission letter from a recognized University.
Rs.10.00 Lacs for studies in India
Rs.20.00 lacs for studies abroad
RATE OF INTEREST
6 months after completion of course or the date of gaining employment, whichever is earlier
MODE OF REPAYMENT
Tuition Fees/Lodging & Boarding/travelling (one time to & fro)/Books/equipment’s & tools required for the course/insurance fees/library fees
10%-India & 15%-abroad
As per the admission letter from the University
Satisfactory level of income of the parents & the guarantors
Income Tax Returns for the last three years of the co-borrowers & the guarantors
DURATION OF SERVICE/ BUSINESS
Upto Rs.3.00 lacs-No security
1) Father/mother to execute the loan documents as co-obligant (2) Two guarantors of good means acceptable to the bank
1.Loan application form
2.Borrowers and two guarantors-3 years I.T. returns for business
3. Account to be opened fulfilling the KYC norms/ KYC norms for guarantors to be complied with.
4.Guarantors- Bank statement for last 6 months of the existing bankers
5.Letter from the University confirming admission
Borrowers/Guarantors should have satisfactory track record and should not be an NPA with any other banks/FI.