|
|
|
Indian Bank
provides convenient
educational loans
for
meritorious/deserving
students to acquire
knowledge and skill
in the field of
their interest. By
playing beacon,
new-generation's
quest for success
is ably supported,
paving way for
Generation
Banking. |
|
Eligibility |
Purpose |
- The
applicant
should be
an Indian
National.
- He /
She should
have
secured
admission
to
professional
/ technical
courses in
India or
abroad
through
Entrance
Test /
Merit based
selection
process.
|
To meet the
cost of
education
covering
fee payable
to college
/ school /
hostel,
exam fees,
purchase of
books /
equipment’s,
travel
expenses /
passage
money for
studies
abroad,
purchase of
computers
essential
for
completion
of the
course etc.
|
|
Course
of
Study |
Studies
in
India
-
Diploma/Graduation/Post-graduation
courses in
various
disciplines.
-
Computer
certificate
courses of
reputed
institutes
accredited
to The
Department
of
Electronics.
|
Studies
Abroad
-
Job-oriented
professional/technical
courses
offered by
reputed
universities.
-
MCA, MBA,
MS
etc.
-
Courses
conducted
by CIMA –
London, CPA
in USA
etc.
|
|
Maximum Permissible
Amount of
Loan |
Place of
availment |
- For
Studies in
India -
Rs.10.00*
lakhs
- For
Studies
Abroad -
Rs.20.00*
lakhs
*
Higher
quantum of
loan also
can be
considered
in
deserving
and
meritorious
cases.
|
The loan
can be
availed
from the
branch
nearest to
the place
of
domicile.
|
|
Margin |
Rate of
Interest |
-
Upto
Rs.4.00
lakhs
- NIL
-
Above
Rs.4.00
lakhs
For Studies
in India -
5%
For Studies
Abroad -
15%
|
- Upto
Rs.4.00
lakhs
-12.50
% p.a. at
present
- Above
Rs.4.00
lakhs
-13.00 %
p.a. at
present
|
|
Holiday
Period |
Repayment |
The course
period PLUS
1 year or 6
months
after
getting a
job,
whichever
is earlier.
|
Repayable
in 5– 7
years.
|
|
Security |
|
|
Documents
should be
executed both
by the student
and parent /
guardian as
joint
borrower.
1. Upto Rs. 4
lacs - No
security
2. Above Rs.
4 lacs &
Upto Rs.7.50
lacs -
Collateral in
the form of
satisfactory
third party
guarantee
3. Above
Rs.7.50 lacs -
Collateral
security of
suitable value
OR
co-obligation
of parents /
guardians /
third party
along wtih the
assignment of
future income
of the student
for payment of
instalments.
|
Download
Educational
Loan
Application
Form
|
|
Particulars/Documents
to be
submitted |
|
Sl.
No.
|
Particulars
|
For
studies
in
India
|
For
studies
Abroad
|
|
1
|
2
|
3
|
4
|
|
1. |
Proof
of
residence |
Xerox
copies
of
Ration
Card
or
Voters
Identity
Card
or
Passport
or
Electricity
or
Telephone
bill
or
any
such
document
acceptable
to
the
bank |
Same
as
in
Col.3 |
|
2. |
Academic
record |
Copy
of
the
Xth
std/XIIth
std
mark
list,
for
under
graduates.
Degree
mark
list/provisional
certificate
for
post
graduates |
Same
as
in
Col.3 |
|
3. |
a.
Date
of
birth/age
b.
Community
(for
statistical
purpose
only)
|
SSLC/TC/Mark
list
Community
Certificate
|
Same
as
in
Col.3
besides
Passport |
|
4. |
Family
Income |
Salary
certificate/Pension
certificate/Auditor's
certificate
in
case
of
business
category/IT
return
filed/any
other
proof
for
the
income
stated |
Same
as
in
Col.3 |
|
5. |
Admission |
Admission
letter/Bonafide
student
certificate
from
the
College/University |
Certificate/I
20
from
the
College/University |
|
6. |
Fee
structure |
Letter/Certificate
from
the
College/University |
Certificate/I
20
from
the
College/University |
|
7. |
Passport/VISA |
Not
applicable |
Copies
to
be
enclosed |
|
8. |
Guarantee/Co-obligation |
Parent's/Guardian's
Co-obligation
to
be
furnished |
Same
as
in
Col.3 |
|
9. |
Collateral,
wherever
required |
LIC
policy/Share
certificates/Units
of
UTI
etc.
Valuation
certificate
from
Bank's
approved
panel
valuer
and
legal
opinion
from
Bank's
panel
advocate
in
case
of
land/buildings |
Same
as
in
Col.3 |
|
10. |
Margin
(Above
Rs.4.00
lakhs)
For
studies
in
India:
5%
For
studies
abroad:
15%
|
Details
regarding
source
of
funds
for
meeting
the
margin
furnished
alongwith
documentary
evidence |
Same
as
in
Col.3 |
|
11. |
Declaration/affidavit
stating
that
no
Educational
Loan
is
availed
from
any
other
bank
by
the
applicant
and
his
parent |
To
be
submitted |
To
be
submitted |
|
12. |
Documents
to
be
enclosed |
-
A
&
L
of
the
student/parent/guardian/guarantor
-
Details
of
securities
in
Col.9
|
Same
as
in
Col.3
|
|
