all about medical
 Date : 5/27/2018 
 Bank Loan
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A concession of 1% in interest rates can be availed on repayment of interest during the moratorium period.
Loan can be used for tuition, travel expenses, pursuing studies abroad, purchase of books/equipment/instruments/uniforms and computers essential to the course.
Up to Rs. 7.5 Lakhs for educational courses in India.
Up to Rs. 15 Lakhs for educational courses abroad.

Loan can be repaid in easy instalments calculated with simple interest. This includes a concession of 1% if the interest amount is repaid during the period of moratorium.

The loan can be availed for any of the following educational purposes.
  Fee payable to college / school / hostel.
  Examination / Library /Laboratory fee.

Caution deposit / building fund / refundable deposit supported by Institution bills / receipts.


Travel expenses / passage money for studies abroad.


Purchase of computers - essential for completion of the course.

  Any other expense required to complete the course - like study tours, project work, thesis, etc.

Can avail of a margin of 5% on Loans for the courses in India and a margin of 15% for courses pursued abroad.

The scholarship/assistantship can be included in the margin amount.

Terms and Conditions

The applicant must be an Indian National with a confirmed admission to technical/professional courses through a valid selection process/entrance exam. There is however no minimum mark that has to be obtained to secure the loan.
The applicant must have a letter of co-obligation signed by the borrowers/parents/relatives/guardians or friends.
There also has to be a stamped declaration /an affidavit confirming that no loans are availed from other banks.
Following are the rates of interests charged:
  Upto Rs.4.00 lacs 0.75% above BPLR
  Above Rs.4.00 lacs 1.75% above BPLR
Simple interest to be charged at quarterly rest during the repayment holiday / Moratorium period.
Interest @ 2% will be levied on any amount overdue in case of the loan exceeding Rs. 2 Lakhs.
1 % interest concession is provided if the interest is serviced during the study period when repayment period is specified for interest/repayment under the plan.
Documentation charges to be levied according to the following:
  Upto Rs.25000/-  NIL
  Above Rs.25000/- & upto Rs.2 lacs Rs. 150/-
  Above Rs.2.00 lacs & upto Rs.5 lacs Rs.1000/-
  Above Rs.5.00 lacs Rs.1500/-

Loans can be obtained for the following courses:

A. For courses in India:
  Graduation courses; Post Graduation courses; Masters & PhD. Professional courses; Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurveda, Homeopathy, Physiotherapy.
  Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
  Courses like ICWA, CA, CFA, CS.
  Courses conducted by IIM, IIT, IISc, XLRI, NIFT.
  Courses offered in India by reputed foreign universities.
  Evening courses of institutes approved by State/Central Govt./UGC/ Universities.
  Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE AIBMS / ICMR / ICAR.
  Courses offered by National Institutes and other reputed private institutions.
B. For courses abroad:
Graduation Courses:
  For job oriented professional/technical courses offered by reputed universities.
Post Graduation Courses:
  MCA, MBA, MS. Courses conducted by CIMA - London, CPA in USA


Conditions governing security required by the bank for disbursing the loan:

  Up to Rs. 4.00 Lakhs No Security
  Above Rs. 4.00 Lakhs

Collateral security equal to 100% of the loan amount or co-obligation of parent/guardian/third party along with the assignment of future income of the student for payment of instalments.

The document should be executed by both the student as well as the parent / guardian.

Security can be in the form of land / building / Govt. securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC policy, gold, shares / debentures, bank deposit in the name of student / parent / guardian or any other third party with suitable margin.

Wherever the land / building is already mortgaged, it can be taken as security on second charge basis. This is provided it covers the required loan amount.

In case the loan is given for purchase of computer the same to be hypothecated to the Bank.



Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Central Office
P.O. Box 10046,3, Walchand ;Hirachand Marg
Ballard Pier, Mumbai - 400 001
Gen: 022-2610341, Fax: 022-2611259


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