These loans are specifically offered for the pursuit of academics in
recognized schools, colleges and various other educational institutions,
both in India and abroad. You may avail of this loan facility to meet:
payable to college/school/hostel
Purchase of Books/Equipment/Instruments/Uniforms
Caution Deposit/Building Fund/Refundable Deposit
Travel Expenses/Passage money for studies abroad
Purchase of computers considered necessary for completion of course
student who is an Indian national.
secured admission to a professional or a technical course through an
Entrance Test or any other Selection process.
secured admission to a foreign University or Institution.
loan amounts financed are need-based and subject to the conceerned
parents and/ or students repaying capacity and the following
India : A Maximum of Rs.7.50 lacs
: A Maximum of Rs.15.0 lacs
mark sheets of last qualifying examinations for school and graduate
studies in India.
proof of admission scholarship, freeship, studentship etc.
Schedule of expenses for the specified course
copies of letters confirming scholarships, etc.
copies of foreign exchange permits, if applicable
passport size photographs
borrower's Bank account statement for the last six months
Income tax assessment order, not more than 2 years old
brief statement of assets and liabilities, of the borrower
Proof of Income (i.e Salary slips/ Forms 16 etc)
loans up to Rs.4.0 lacs : No Margin
loans above Rs.4.0 lacs:
» In the case of
Education in India, the margin is 5%
» In the case of
Education Abroad, the margin is 15%
Duration of the course period PLUS one year or six months after
getting a job - whichever is earlier.
loan then needs to be repaid in 5-7 years after the commencement of
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.