The guardian of the applicant should be an income tax payee and he must be
able to repay the loan amount. The age of the applicant must be above 18
years and income of his guardian should exceed Rs. 10,000 per month.
Marks sheets of the examinations as required by the bank authorities,
Proof of residence, copies of photographs, proof of parent's/guardian's
income, along with the admission approval.
Within a period of fifteen days.
|| Rs. 1,00,000 (for studies in India)
|| Rs. 10,00,000 (for studies abroad)
Rate of Interest
If the studies are to be pursued in
India, for an amount upto Rs. 4,00,000: 12% p.a. For the amount exceeding
Rs. 4,00,000: 16% p.a. Third party guarantee needed.
For loans to be taken for studies abroad, interest rates are same as those
After one year.
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.
PB No.2, Salem Road Kathaparai, Vengamedu Post
Karur - 639 006