| |
|
Purpose
|
For studies
in India
For studies abroad
|
|
Eligibility
|
You should be
an Indian National
You should have secured
admission to professional /
technical courses through
entrance test / selection
process.
You should have, secured
admission to foreign
university /
institutions
|
|
Amount
|
For studies
in India : Maximum
Rs.7.50 lac
* For studies abroad :
Maximum Rs. 15.00
lac
|
|
Margin
|
There is no
margin up to Rs.4.00
lac.
For loans above Rs.4.00
lac.
This may
include own
contribution as well
as scholarship.
|
|
Rate of
Interest
|
|
|
Security
|
No security
required upto Rs.4.00
lac loan.
Above Rs.4.00 lac
securities are required to
be furnished as under
either singly or in
combinations-
-
Government
securities,
public sector
bonds.
-
Units
of UTI, Shares
(as per our
approved list
from time to
time),
Debentures.
-
L.I.C.
Policies.
-
NSCs/KVPs,
Banks own
deposits
-
Mortgage
of land and
Building
The eligible
securities are as
above. However
terms apply.
Value of
collateral security
after providing
requisite margin, as
stated above should
be equal to the
Quantum of
finance.
|
|
Repayment by
EMI
|
You get a
repayment holiday of
one year after
completion of the
course selected or 6
months after getting a
job (after which your
repayment will
start).
The loan is then to be
repaid in 5 years after
commencement of
repayment.
|
|
Processing
Fee
|
Nil.
|
|
Expenses
Considered
|
Tuition fees,
hostel expenses,
purchase of books/
equipments/
instruments etc.
Travel expenses for
studies abroad &
other essential
expenses.
|
|
Courses
Eligible
|
-
School
education
including plus
2 stage of
CBEC &
State
Education
Boards.
-
Graduation
courses/Colleges
under
universities
approved by
UGC.
-
B.A,
B.Com,
B.Sc.
etc.
-
Post
graduation
courses,
Masters
and
PhD
-
Professional
courses,
Engineering,
Medical,
Agriculture,
Veterinary,
Law,
Dental,
Management,
Computer
etc.
-
Computer
certificate
courses of
reputed
institutes
accredited to
Dept.of
Electronics or
institutes
affiliated to
university.
-
Courses
like ICWA, CA,
CFA
etc.
-
Courses
offered in
India by
reputed
foreign
universities.
-
Courses
conducted by
IIM, IIT,
IISC, XLRI,
NIFT
etc.
-
Evening
courses of
approved
institutes
recognized by
State/ Central
Govt.
-
Other
courses
leading to
diploma/degree
etc. conducted
by colleges/
universities
approved by
UGC/ Govt/
AICTE/ ICMR
etc.
-
Graduation
: For job
oriented
professional/
technical
courses
offered by
reputed
universities.
-
Post
graduation :
MCA, MBA, MS
etc.
-
Courses
conducted by
CIMA - London,
CPA in USA
etc.
|
|
Documents to be
Furnished
|
-
Proof
of being an
Indian
national i.e.,
School Leaving
Certificate.
-
Letter
confirming
selection
through
Entrance
Test.
-
Letter
confirming
admission to
foreign
university/institutions.
-
Brochure
of the
educational
institution
stating the
amount of fees
charged.
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