PURPOSE |
To pursue higher studies in India &
Abroad. |
| ELIGIBILITY |
Students who have
secured admission in any University / College
are eligible for Education Loan. Loan will
be sanctioned jointly to student and parents.
|
| LOAN
AMOUNT |
Upto Rs. 15.00
lacs. |
| SECURITY |
Adequate collateral
security requirement where necessary. |
| STUDENT'S/PARENT'S
CONTRIBUTION |
Minimum 15 % |
| REPAYMENT |
5-7 years after
completion of the course. Interest accured
on the loan , if paid during the currency
of the course, concession of 1% will be
allowed. |
| RATE
OF INTEREST (ON FLOATING BASIS |
Loan amount upto
Rs. 4.00 lacs - 11.5% P.A.
Loan amount above Rs. 4.00 lacs - 12.5 %
P.A.
|
{Present rate
of interest corresponding to SBMTLR of 11.5%
P.A. } |
| PROCESSING
FEE |
- NIL - |
| PREPAYMENT |
Permitted without any penalty. |
