The applicants must be of 21 years of age and have secured minimum 60%
marks throughout the academic pursuit. They must have obtained admission
approval from the institution where they intend to study. The maximum age
limit is 65 years.
Academic records and admission approval. Third party guarantee is also
Within a period of seven to eight days.
Rs. 5,00,000 (for studies either in India or abroad)
Rate of Interest
||If the studies are to be pursued in India, for an amount upto Rs. 2,00,000: 14% p.a., and for the amount of loan money exceeding Rs. 2,00,000 : 16% p.a. Collateral along with third party guarantee needed if loan is above Rs. 25,000
||For loans to be taken for studies abroad upto Rs. 2,00,000:14% p.a. and for the amount exceeding Rs. 2,00,000 : 16% p.a. Collateral along with third party guarantee needed if loan is above Rs. 25,000.
A period of 40 months.
Within a period of three months after the course is completed or the date
of joining a service, whichever is earlier.
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.