Education
Loans and Bank Loans to Students
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Vidya Vardhini Scheme
Purpose:
Pursuit of
studies In India and abroad
Approved Courses:
Graduate and post-graduate courses
in engineering, computertechnology,
medicine etc.All vocational courses/job
oriented diploma courses, recognised
by govt and universities.Similar courses
pursued in universities abroad. Full
time post graduate research in any
of the aforesaid subjects.
Eligibility:
Should be a citzen of India. For vocational
training courses and job oriented
course age of the individual should
be between 15-28 years,and 18-30 in
case of post graduate courses and/or
studies abroad.The applicant should
have a good academic record. For studies
abroad, the candidate should have
secured admission in a particular
university after having appeared in
the specific entrance examinations.
The applicant should have secured
a minimum of 50% marks in the major
subject.In case of SC/STcandidates
eligibility norms may be relaxed.
Amount of loan:
The loan could vary depending
on the specific subject requirement.For
studies abroad Rs15 lakhs.For studies
in India Rs 7.5lakhs
Margin
Upto Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%
Repayment
Within 15 years from the first
dateof disbursement, including moratorium
period
Contact
:
Delhi Tel: 3312654, 3311557
Bangalore Tel: 2212485, 2271130
Chennai Tel: 8270041, 8276143
Hyderabad Tel: 3315263, 3324487
Kolkata Tel: 2481973, 2485703
Mumbai Tel: 2023020
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Cent Vidyarthi Scheme
Purpose: Aims at bringing Education within
the reach of students and help them improve
their prospects in life.
Courses Approved
For pursuing
Graduate/Post-Graduate, Management/Job-oriented
courses, Professional Courses of recognised
Universities / reputed Institutes, Computer
courses conducted by NIIT, APTECH, CMC,
C-DAC with duration of one year and more.
For pursuing
Post-Graduate course in Science, Technology,
Medicine, Engineering, Management courses,
Law, Accountancy leading to Master's degree
or Post-Graduate Diploma in recognised University
abroad.
Eligibility:
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Should
have consistent good academic record
in previous examinations with marks
over 60 % in 10th.&
12th or first grade in
other cases.
(For SC/ST Second class will be sufficient).
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| Amount of Loan: |
India |
Upto
Rs.7.50 lakh |
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Abroad |
Upto
Rs.15 lakh |
| Margin: |
Up to
Rs.4 lakh |
No Margin |
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Over
Rs.4 lakh - In India |
5% |
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Studies
Abroad |
15% |
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( Relaxation
of loans upto Rs.50,000/-for SC/ST ) |
| Rate
of interest: |
Upto
Rs.4 lakh |
PLR |
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Above
Rs.4 lakh |
PLR +
1% |
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Dena Bank
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Dena Vidya Laxmi Education Loan Scheme
Courses approved
a. Studies in India :
- School education including plus 2 stage.
- Graduation courses : BA, B.COM., B.Sc.,etc.
- Post Graduation courses : Masters & 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 conducted by IIM, IISc, IIT, XLRI NIFT
etc.
- Courses offered in India by reputed foreign universities.
- Evening courses of approved institiutes.
- Other courses leading to diploma/ degree etc.
conducted by colleges
Universities approved by UGC/ Govt/AICTE/ AIBMS/ICMR
etc.
- Courses offered by National Institutes and other
reputed private institutions. [Banks may
have the system of appraising other institution
courses depending on future
prospects/recognition by user institiutions.]
b. Studies abroad :
- Graduation: For job oriented professional
technical courses offered by reputed universities.
- Post graduation: MCA, MBA, MS, etc.
- Courses conducted by CIMA- Loanon, CPA in USA
etc.
Eligibility: The
student should be:
- An Indian National
- Have secured admission to professional/ technical
courses through Entrance Test /Selection
process.
- Secured admission to foreign university/Institutions.
Amount of loan: Need
based finance subject to repaying capacity
of the parents/students with margin and
the following ceilings.
- Studies in India - Maximum Rs.7.50 lacs.
- Studies abroad - Maximum Rs.15 lacs.
Margin :
Inland (studies in India)
Upto
Rs. 4 lacs : Nil
Above Rs. 4 lacs : Studies in India : 5%
Studies Abroad : 15%
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Scholarship/assistantship to be included
in margin.
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Margin may be brought in on year-to-year
basis as and when dibursements are
made
on a pro-rata basis.
Rate of Interest :
Upto
Rs.4 lacs : PLR
Above Rs.4 lacs : PLR + 1%
Period of loan: Repayment holiday/ Moratorium : Course period +
1 year or 6 months after getting
job, whichever
is earlier.
The loan to
be repaid in 5-7 years after commencement
of repayment. If the student is not able
to complete the course within the scheduled
time, extension of time for
Completion
of course may be permitted for a maximum
period of 2 years. If the student is not
able to complete the course for reasons
beyond his control, Sanctioning Authority
may, at his discretion, consider such extensions
as may be deemed necessary to complete the
course.
- The accrued interest during the repayment holiday
period to be added to the principal
and repayment in Equated Monthly Instalments(EMI)
is fixed.
- 1% interest concession may be provided for loanees
if interest is serviced during the study
period when repayment holiday is specified
for Interest/repayment under the
scheme.
- PROCESSING CHARGES : No processing/upfront
charges are charged by the bank on Educational
loans.
Contact
:
Delhi Tel: 5724837, 5730400
Bangalore Tel: 6345563
Chennai Tel: 4310542, 4330438
Hyderabad Tel: 5505081
Kolkata Tel: 2472278, 2473860
Mumbai Tel: 2181231, 2189155
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Punjab National Bank
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Vidya Lakshyapurti
Education Loan Scheme
Purpose
PNB's Education
Loan Scheme is designed to provide better
educational opportunities to bright and needy
students and brings within their reach all
types of education (general,professional,technical
and vocational courses).
The scheme enables all types of needy students
(viz.students of plus 2 stage,graduation courses,
post graduation courses, Masters & Ph.Ds,
professional, technical , engineering, medical,
veternary, law, dental, management, computer,
vocational courses, courses like ICWA,CA,CFA,
courses conducted by IIM,IIT,IISc,NIFT, courses
offered in India by reputed foreign universities
and all other types of courses offered by
Govt./Semi-Govt/private institutions in order
to meet the costs for their studies in India
and abroad. Such courses would include regular,
part time and correspondence courses. The
costs include admission fees, books &
stationery, instruments required for the course,
monthly fees, examination fees,insurance premium
for policy on life of the borrowing student,caution
deposit/building fund/refundable deposit supported
by bills/receipts, expenses like study tours/project
work/thesis etc. required to complete the
course, boarding and lodging expenses, and
travel expenses/passage money including air
fare for joining the course abroad.
Eligibility
1) Indian nationals, in the
age group of 16-40 years.For part time computer
courses, applicants in the age group of 16-45
years are eligible. Applicants whose guardians
have been appointed by the court, should not
be less than 21 years; such students should
have already passed atleast one public examination.
2) Students who have scored pass marks in
their last qualifying examination and have
secured admission in the courses mentioned
above.
3) The parents/guardian should have regular
source of income to the extent that they are
able to repay the loan in case of need/unforeseen
circumstances.There is no stipulation of ceiling
on annual income of the parents/guardians.
4) Employed persons intending to better their
prospects can also avail loan for improving
their educational qualifications and/or receive
training in modern technology in India/ abroad
provided the education/training received by
them in India/abroad affords prospects for
their better employment.For such persons,
'NO OBJECTION CERTIFICATE' from their employers
is a pre-requisite.
Amount of Loan
This is co-related to expenses
involved in taking up the course and the expected
earnings after qualifying, subject to a maximum
of:
For studies in India:
Rs. 7.50 lacs
For studies abroad Rs.15.00
lacs
In case of part time computer courses, the
extent of loan should not exceed Rs. 50,000/-
per annum or fee fixed by the particular institutution
(as per prospectus less concession,if any),
whichever is less.
.
Rate of Interest
Loan upto Rs. 4
lac
12.00% p.a. *
Loan over Rs. 2 lac upto Rs. 15 lac
13.00% p.a. *
Loan over Rs. 15 lac
15% p.a.*
*This is subject to change from time to time.
The Interest shall be charged at simple rate
from the date of disbursement till the commencement
of repayment of loan and thereafter, compound
Interest will be charged on reducing balance
basis. 1/2% interest concession may be provided
for the loanees if the interest is serviced
during the study period.
Margin
NIL
Period of loan
Principal and Interest is
repayable in 84 monthly instalments. Repayment
will commence after two years of the completion
of studies by the borrower or one month after
his/her getting employment, whichever is earlier.
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State Bank of Hyderabad
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Purpose
For pursuing studies in recognised
schools/ colleges/ institutions to meet: -
Tution and other fees
- Maintenance costs, books and equipment etc.
- Cost of passage (for studies abroad)
Eligibility
For School / College education in India.
a) Minimum second division (Pass marks for
SC/ST)
b) Parents / guardians (Including persons
engaged in agriculture / allied activities
having independent regular source of income.
Loan Amount
(I) School / College education in India: (Upto
6 times the monthly net (take home) income
of the parents / guardian. Minimum loan of
Rs. 4,000/- Maximum Rs. 1lac.
(ii) Technical / Professional higher studies
in India and Abroad 90% of the cost of study,
subject to maximum of Rs. 8lacs.
Margin
10%
Interest
Rate
At competitive rates on reducing balance only.
Please check-up for latest rates at your
nearest branch Interest is compounded at quarterly
basis.
Period of Loan
(I) For School / College Education in India: Loans
to be repaid in a period of 36months, commencing
immediately after disbursal, by the parents
/ guardian.
(ii) For Technical / Professional higher studies
in India and abroad: The loan is to be repaid
is 60 months after the completion of the course
of securing job, whichever is earlier. Regular
periodic repayment as much as possible should
be made during the period of study. Quarterly
interest should be paid regularly.
(iii) Permitted without any penalty.
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State Bank of India
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Purpose
You can take a loan for pursuing studies in
recognised schools/colleges/ institutions
to meet:
| Loan
Amount |
Interest Rate |
| Loans
upto Rs.4 lacs |
SBMTLR
presently 12.00 %p.a. |
| Loans
over Rs.4 lacs |
1% above
SBMTLR presently 13.00 % p.a |
* While interest is not required to be paid
during moratorium period, payment of the same
before start of repayment would entitle you
to concession in interest rate applied during
the repayment holiday
Repayment
of loan
Repayment Holiday - Course period + 1 year
or 6 months after getting job, whichever is
earlier.
The loan
to be repaid in 5-7 years after commencement
of repayment
Prepayments permitted without any penalty
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Allahabad
Bank
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Purpose
You can avail of the attractive education
loan scheme if you have secured admission
to or are already studying in any of the country's
IIMs or IITs or in any of the designated institutes.
Eligibility
You are eligible for the education loan if
you fulfill the following criteria: A student
who has secured admission or is already studying
in any IIM, IIT, Indian Institute of Science,
Bangalore, Jamnalal Bajaj Institute of Management,
Mumbai, XLRI Jamshedpur, Roorkee Engineering
College or Indian School of Mines, Dhanbad.
Amount of Loan
The loan will be in the form of a package
which will cover entire tuition fees, hostel
and mess charges, library fees or any other
fees / charges payable to the institution
subject to a maximum of Rs 2.50 lacs.
Period of loans
Loans repayable In 48 Equated Monthly Installment
(EMI).The EMI will commence one year after
the completion of the course or whenever is
earlier.The interest, however, will be realised
during the pendency of the loan on a quarterly
basis.
| Loan
Amount |
Interest Rate |
| Loans
upto Rs.4 lacs (In India) |
12.5%
pa, SBMTLR presently 12.00 %p.a. |
| Loans
above Rs 4 lacs |
1% above
SBMTLR presently 13.5 % p.a |
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Tenures:
Minimum of 12 months to a maximum of
48 months
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Contact
:
Delhi Tel: 3341152
Bangalore Tel: 2261599
Chennai Tel: 8282206, 8230267
Hyderabad Tel: 7637738
Kolkata Tel: 2401529
Mumbai Tel: 4923246
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Andhra Bank
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Maximum
Amount for India : Rs 100000
Maximum Amount Overseas : Rs 500000
Documents to be submitted: Bank documents,
Academic records
Interest Rate in India
Upto
400000 : 12%
Above Rs 400000 : 13.5% pa.
Interest Rate for Overseas
Loans Upto 400000 : 12%
Above Rs 400000 : 13.5% pa.
Collateral and Third Party Guarantee are required
Tenures:
Maximum of 5 years
Eligibility:
1st class marks in previous exams and selected
for proffesional course
Repayment 1 year after completion of course
or 3 months after getting a job whichever
is earlier.
When to Apply: After getting Admission
in college/institute
Time
taken to process documents:
1 Week
Contact:
Delhi Tel: 3350248
Bangalore Tel: 2242932
Chennai Tel: 4991868, 4994294
Hyderabad Tel: 4756023-25
Kolkata Tel: 2471359
Mumbai Tel: 2046160, 2047620
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Karnataka
Bank
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Eligibility:
Admission approval with previous satisfactory
academic record.
Maximum
Amount for India : Rs 800000
Maximum Amount Overseas : Rs 1000000
Documents
to be submitted : Previous academic record
and admission approval.
Time
To Process: Nearly a Month
Interest
Rate
In India:
Upto Rs 200000 : 13.5% pa
Above 200000 : 15.5% pa
For Overseas
Upto Rs 200000 : 13.5% pa
Above 200000: 15.5% pa
Collateral and Third party Guarantee required.
Tenures:
Eight Years
Repayment: At the end of completion
of the course.
Contact
:
Delhi Tel: 3341426, 3360872
Bangalore Tel: 3350525
Chennai Tel: 5342459, 5342092
Hyderabad Tel: 3202102, 3201029
Kolkata Tel: 2472181, 2475737
Mumbai Tel: 2663725, 2663256
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Bank of Baroda
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Period of
loans: 5 years
Purpose: Tuition feesLibrary/Other institution
charges Hostel/Mess charges Travel expenses
abroad (one way only)
Amount of loan: For studies in India: Rs.
550,000
For studies abroad: Rs.1.5 million
Interest rate: Depending on the loan amount
with maximum of 13.77%
Margin Required: Maximum 15%, depending
on the loan amount. 20% of the loan amount
in case of abroad studies
Period of loan: The loans are to be repaid
starting from 6 months after course completion
or 1 year after getting a job
Contact
:
Delhi Tel: 3321562,3325147
Bangalore Tel: '5586137, 5595347
Chennai Tel: '8283652
Hyderabad Tel: '3237760, 3230450, 3230368
Kolkata Tel: '4754047
Mumbai Tel: 2656727
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Development Credit Bank Ltd.
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Eligibility
:Repayment 6 months after completion of
course
Maximum
Amount for India : Rs 500000
Maximum Amount Overseas : 75 % of the course
fee.
Documents
to be submitted : Marks list, Income proof
of guardian, evidence for selection to the
courses, copy of ration card, details of admissible
expenses.
Time
To Process: 1 Week
Interest
Rate
In India
Upto Rs200000 : 13.5%
Above Rs200000 : 15.5 %
For Overseas
Upto Rs 200000 : 13.5% ,
Above Rs 200000 : 15.5 %
Collateral and Third Party Guarantee required.
Tenures
: 3 to 5 years in India and maximum 4
years abroad.
Contact
:
Delhi Tel: 3312675, 3321326
Bangalore Tel: 5595071
Chennai Tel: 8312267-70
Hyderabad Tel: 3202191, 3205764
Mumbai Tel: 2872465
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Bank of Rajasthan
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Eligibility:
Good academic records and selection for the
course
Maximum
Amount for India : Rs 150000
Maximum Amount Overseas : Rs 300000
Documents
to be submitted: Mark sheet, proof of
admission, proof of cost of course
Time To Process: A Forthnight
Interest
Rate
In
India
Upto
Rs 25000: 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.
For
Overseas
Upto
Rs 25000 : 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.
Tenures:
Till completion of course
Repayment: 3 to 5 years or earlier.
Contact
Delhi Tel: 5712934, 5729817
Bangalore Tel: 2265436, 2260540
Chennai Tel: 5383416
Hyderabad Tel: 4705920, 4743684
Kolkata Tel: 2201892, 2207912
Mumbai Tel: 2870307
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Bank of Maharastra
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Eligibility: Should have secure admission
for in School/College/Institute
Maximum
Amount for India : Rs 200000
Maximum Amount Overseas : Rs 750000
Documents
to be submitted: Pass Certificate of Previous
School/University/Institute
Time To Process : A Fortnight
Interest
Rate
India:
13.75%
Overseas: 13.75%
Collateral and Third Party Guarantee required
Tenures:
Maximum of 5 years
Contact
:
Delhi Tel: 3321754
Bangalore Tel: 2264997
Chennai Tel: 4364410
Hyderabad Tel: 7843238
Kolkata Tel: 2203996, 2207122
Mumbai Tel: 2661295, 2652595
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Indian Overseas Bank
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Eligibility: Should have a good academic
record.
Maximum
Amount for India : Rs 200000
Maximum Amount Overseas : Rs 600000
Documents
to be submitted : Mark sheets,addmission
approval,address proof,photgraph,income proof
.
Time
To Process: 1 Week
Interest
Rate
In India
Upto Rs 400000 : 12% pa
Above Rs 400000 : 13% pa.
For Overseas
Upto Rs 400000 : 12% pa
above Rs 400000 : 13% pa.
Collateral and Third Party guarantee required.
Tenures
: Maximum of five years
Repayment: Maximum after 3 months of
completion of course or the date of joining
of job which ever earlier
Contact
:
Delhi Tel: 3362003
Bangalore Tel: 2266207
Chennai Tel: 8524142
Hyderabad Tel: 4755324
Kolkata Tel: 2299700
Mumbai Tel: 2182226
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HDFC Education Loans
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Purpose: HDFC gives loans to students to
partly meet their educational expenses / costs
for pursuing specific higher educational courses
at institutes approved by HDFC. Loans are
given to students who are citizens of India.
The student should have a consistently good
academic record, and admission to an approved
Educational Institute for pursuing a recognized
course.
Eligibility: Students enrolled with an approved
Educational Institute and desirous of availing
the education loan can make an application,
with the earning parent / guardian being the
co-applicant to the loan. Currently, new entrants
and existing students of only select leading
national educational institutions are eligible
to apply for education loans. Please check
with your nearest HDFC Office for the list
of approved institutions.
Amount of loan: Loans can be availed upto
a maximum of 90% of the total cost as determined
by HDFC. The costs would generally cover expenses
incurred towards the course fee, library charges,
hostel and mess charges, cost of books and
equipment. HDFC lends upto a maximum of Rs.
2,00,000 on an Education Loan.
The period of the loan is determined on
the merits of each case but would not exceed
5 years. The repayment can be accelerated
on completion of the course, considering the
earning capacity of the student. HDFC's main
concern is to help individuals comfortably
repay the borrowed amount.
Rate of interest
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Loan
Amount (Rs.)
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Rate
of Interest - % p.a.
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Upto
2,00,000
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14.0
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Contact
:
Delhi Tel: 6103146, 6185944
Bangalore Tel: 2274600, 2219473
Chennai Tel: 8553838
Hyderabad Tel: 3233875
Kolkata Tel: 2478256
Mumbai Tel: 2820282
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UCO Bank Educational
Loan
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Purpose: The scheme extends a helping hand
to a meritorious student desirous of pursuing
higher studies either in India or abroad.
Courses approved
Studies in India
- Graduation Courses in recognised universities
leading to degrees like B.A., B.Sc, B.Com,
B.Tech, B.E., MBBS etc.
- Diploma/Certificate courses from recognised universities
or Govt. recognised institutes in disciplines
of Engineering, Medicine, Agriculture, Computer,
Tourism, Hotel Management and such other
technical/professional courses.
- Chartered Accountancy and Cost & Work Accountancy
from the Institute of Chartered Accountants
of India and Institute of Cost & Works
Accountants of India respectively.
Post Graduate Courses leading to degrees
like M.A., M.Sc., M.E., M.Tech, MBA, M.S.
M.D. etc.
- Post Graduate Research studies in Pure &
Applied Sciences, Economics and other Social
Sciences etc. in a recognised university
leading to Doctoral Degree.
Studies Abroad
Full time Post Graduate or Doctoral Programmes
in Engineering, Medicine, Technology (Pure
& Applied Sciences), Agriculture, Computer
Science, Business Administration, Economics
and other Social Sciences.
Amount of loan
Actual Loan Amount will be determined as per
requirements of the student subject to maximum
of Rs.4 lakh. The loan amount under the scheme
would consider meeting the following expenses:
- Course Fees
- Hostel/Boarding Fees
- Cost of Books/Journals
- Stationery & Equipment required for the course
- Examination Fees
- In addition to above, for studies abroad, cost
of air passage may be considered if requested
by the student.
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IDBI Money Scholar
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Purpose
IDBI has structured a loan facility for Professional
/ Management / Foreign University education.
Courses approved
Indian Universities
For Professional Courses i.e. B.E., B.Tech.,
M.B.B.S. Post Graduate Courses i.e. M.E.,
M.Tech., M.S., M.D., M.B.A., M.C.A., etc.
recognized by AICTEFor part time / on-line
distance learning courses (subject to terms
& conditions)
Foreign Universities
For Graduate/Post Graduate/Research/Doctorate
studies that insist on TOEFL, GRE, GMAT scores.
Eligibility
Indian Universities
For Graduate courses : at least 75% in the
+2 stage.
For Post Graduate Courses : first class graduates.
Foreign Universities
Proof of TOEFL, GMAT, GRE score card, and
1-20 admit card.
Age
of the applicant should not be more than 30
years for Indian Universities and 35 for Foreign
Universities. Age of the parent / Guarantors
should be below 55 Years. The annual income
of the family should not be less than Rs.
3 lakhs.
Amount of loan
For Indian Universities, actual tuition
and other fees, but not exceeding Rs. 5 Lakh
for the entire duration of the course.
For
Foreign Universities, considering that in
addition to fees, there are travel / preparatory
expenses, the loan amount shall not exceed
Rs. 15 Lakh, in all.
- Interest rates
- Long term Prime Lending Rate + 1% p.a. + taxes
- Processing Fees: Rs. 1000 at application, and
Rs. 500 p.a. thereafter
- Cost of documentation / legal expenses at actuals
Period of loans
- Graduate Studies: Maximum moratorium period of
5 years including the actual duration of
the course. After which the loan should
be repaid within the next 3 years.
- Post Graduate Studies: Moratorium period of 2
years i.e. the course duration. Loan repayment
within the next 3 years.
- No prepayment penalties levied
- In fact, there are incentives for prompt repayment.
Like refund of the entire processing fee,
if not a single installment is missed/delayed.
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Vijaya Bank Education Loans
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Eligibility: For studies in IndiaA student
of Indian Nationality is eligible to apply
for the loan provided he/she has secured admission
to the institution/college/university.
Approved courses: Full time courses (Diploma,
Teachers' Training, graduation or Post graduation
and Doctorate studies) in all branches of
medicine, engineering, agriculture, CA/ICWA/ACS,
Computer Science, Architecture, Business Administration,
Law, Arts, Science, Commerce, Hotel Management,
Nursing and Pharmacy (except Foreign University
Degree courses offered in India)
Amount of loan: The bank provides a loan
of Rs.10000/- for a student's education at
a junior college; teacher's training course
and other short-term courses that are approved
by the Government.Loans worth Rs.50000/- are
also offered to students who wish to do a
polytechnic course/computer course, or desire
to pursue graduation/post-graduation in any
discipline, such as arts, commerce, science,
pharmacy, agriculture & fisheries.A maximum
amount of Rs.4 lakhs for graduation/post-graduation
in engineering, architecture, dental science,
medicine, chartered/cost accountancy &
business administration courses, offered by
a reputed institution.
Margin: No margin for loans up to and inclusive
of Rs.25000/- and a minimum margin of 25%
for loans above Rs.25000/-
Repayment: Repayment of the loan commences
from the 6th month after the student completes
his/her course or the 3rd month of securing
a job, whichever is earlier. The loan is to
be repaid within a maximum period of 6 months
depending upon the repayment capacity.
For studies abroad :
Eligibility: Meritorious students who
have been selected for any course in foreign
universities are eligible to avail of the
foreign education loans.
Amount of loan: The bank provides Rs. 10,00,000/-
as a loan for his/her education at a foreign
university.
Margin: 25% (To be brought pro rata as and
when disbursements are made)
Period of loan: The loan is repayable in
60 monthly installments. Repayment of the
loan is to commence 6 months after the student
completes the course or completion of 3rd
month after securing a job, whichever is earlier.
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Catholic Syrian Bank
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Eligibility:
Minimum age 21 years having 60% marks throughout
and have admission approval.
Maximum Amount for India : Rs 500000
Maximum Amount Overseas : Rs 500000
Documents
to be submitted : Academic Records and
admission approval.
Time To Process: 1 Week
Interest
Rate
In India
Upto Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
For Overseas
Upto
Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
Collateral needed if loan is above Rs 25000
Third Party Guarantee is also required.
Age
: Between 21 years to 65 years.
Tenures: Maximum 40 months
Repayment: Maximum after 3 months of
completion of course or the date of joining
of job which ever earlier
Contact
Delhi Tel: 3715951, 3328747
Bangalore Tel: 8462878
Chennai Tel: 8526397, 8520125
Hyderabad Tel: 3203112, 3202985
Kolkata Tel: 2381455, 2482713
Mumbai Tel: 2660239, 2665641
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Indian Bank
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For Studies in India - Scheme Highlights
Purpose: To meet the cost of education covering
tuition fees, Exam fees, Development fees,
Hostel fees, books, instruments etc.
Approved courses: Computer Courses:Part-time/Full-time
in Institutes approved by Government of India
(Department of Electronics)
Duration of the course: Minimum - 12 monthsMaximum
- 48 months
Amount of loan: For Computer Courses: Maximum
: Rs.1.00 lac
For other professional courses:Maximum : Rs.3.50
lacs
Margin: Upto Rs.2.00 lacs : 10%Upto Rs.3.50
lacs : 15%
Rate
of Interest: Upto Rs.2.00 lacs : 12%Above
Rs.2.00 lacs upto Rs.3.50 lacs : PLR +1% (i.e.
13.5%)
Period of loan: Initial holiday period of
6 months after the completion of the course
or immediately on getting a job whichever
is earlier
For limits upto Rs.1.00 lac : 42 monthsFor
limits upto Rs.3.40 lacs : 60 months
For Studies Abroad - Scheme Highlights
Course of Study: Any Graduate/Post-graduate
courses with good employment prospects. The
period of study should not exceed 5 years
Amount of Loan: Maximum - Rs.10.00 lacs
Margin: Upto Rs.5.00 lacs : 15%Above Rs.5.00
lacs : 25%
Rate of Interest: PLR + 1.5% (i.e. 14%)
Period of loan: Interest to be serviced
every quarter. Repayment of principal to commence
6 months after the completion of the course
or immediately on getting a job whichever
is earlier.For limits upto Rs.10.00 lacs -
Maximum 96 months
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Federal Bank Ltd.
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Federal Vidya Loan Scheme
Purpose: The purpose of the loan is to make
available financial assistance to the needy
and deserving students of bright academic
record so as to enable them to continue higher
studies in India or Abroad either in diploma/graduation
or post-graduation level in Arts, Science,
Commerce, Management, Medicine and Engineering.
Eligibility: Under this scheme the loan
can be sanctioned to any student of Indian
nationality who intends to join any of the
approved courses in an Educational Institution
recognised by the government or any University
in India or Abroad.
Courses Approved:
A - Category:- Academic courses such as
Diploma, Graduate/Post-Graduate courses in
Arts, Science and Commerce etc.,
B - Category:- Professional courses such
as Diploma, Graduate/Post-Graduate courses
in Engineering, Medicine, Dental Science,
Agricultural Science, Veterinary Science,
Computer Science, Nursing, Pharmacy, Business
administration, Law etc.,
Type of Loan:
The loan account shall be operated as a term
loan. To facilitate flexibility in operation,
future debits on account of recurring expenses
in each semester/year can be made to this
account.
Margin:
The margin is NIL for courses in India. For
foreign studies a minimum margin of 10% is
to be insisted on.
Amount of Loan:
(Rs in Lakhs)
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Place of studies
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Minimum
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Maximum
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In India
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0.50
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5.00
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Abroad
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0.50
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10.00
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Rate of Interest:
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Upto Rs.5 lakhs
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13.5 %
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Above Rs.5 lakhs
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14.5 %
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Period of Loan:
The period of the loan consists of the period
required for the completion of the course
and that meant for repayment of the loan.
The repayment should begin within 12 months
on the completion of the course or after the
student secures employment whichever is earlier.
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Maximum period of the loan
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11 Years
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Minimum period
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3 Years
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Oriental
Bank of Commerce
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Eligibility:
Must have obtained admission in a reputed
institute in india or abroad. Repayment :
After completion of course
Maximum
Amount for India: Rs 750000
Maximum Amount Overseas : Rs 1500000
Documents
to be submitted : Admission slip, residence
proof, age proof, letter from institute
Time
To Process: A Fortnight
Interest
Rate
In India
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
For Overseas
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
Collateral and Third Party Guarantee required.
Tenures:
Maximum of Seven Years
Contact:
Delhi Tel: 3316777
Bangalore Tel: 2219762, 2219767
Chennai Tel: 8522940, 8550068
Hyderabad Tel: 3201803, 3201298
Kolkata Tel: 2821514, 2294823
Mumbai Tel: 2189286
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Mysore Bank
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MYSORE BANK PROFESSIONAL
COURSE SCHEME FOR DOCTORS
SBM, Founded by Sir.M.Visweahwaraya, has framed a scheme for the
Professional in the field of medicine for pursuing higher
studies in recognized university / institutions in India/Abroad.
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To Meet:
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(i).
Tuition and other fees.
(ii).Maintainance Cost / Hostel Fees
(iii).Cost
of Books and Equipment.
(iv).
Cost of Passage ( for studies abroad)
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Pre Requisite :
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(i).
Admission offer from any Recognized University.
(ii).Details
of income of Parent / Guardian.
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| Margin: |
10% of the total cost. |
| Interest: |
Compounded
at quarterly intervals on reducing balance.
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Repayment
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The
loan to be repaid in 48 months installments after completion
of the course or securing a Job whichever earlier.
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Security:
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Security
consisting of any of the following :
Government
securities, UTI Bonds, NSC's, LIC Policies, Bank Deposits
of equitable Mortgage of immovable property. Third party
guarantee, if is insufficient.
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For
further details Contact :
STATE
BANK OF MYSORE - Zonal office your nearest branch of SBM.
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Syndicate Bank
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Student's Loan
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Pre Requisites :
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The candidate should
submit the proof of the admissions and the fee structure
with the necessary credential of the college. |
| Eligibility: |
The Candidate of the
candidate's guardian should hold an account in the bank.
The candidate should be from the same place as the bank
to avail the loan otherwise has to open an account in the
bank of his choice and avail loan 6 months hence. |
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Interest:
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14.5%
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| Coverage: |
Tuition
fee.
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Payment:
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The
loan will be due to the bank till the end of the course
of the candidate of till the candidate is employed ; whichever
is earlier. The interest amount in the meanwhile should
be paid back either by the candidate himself or by his
guardian.
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Punjab
and Sind Bank
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Maximum
Amount for India : Rs 500000
Maximum Amount Overseas: Rs 500000
Documents
to be submitted: Admission form, document proof
of eligibility, expenditure Time To Process: A Fortnight
Interest
Rate
In India
Upto Rs 200000 : 12%
Above 200000 : 13.5%
For Overseas
Upto Rs 200000 : 12%
Above 200000 : 13.5%
Collateral
and Third Party Guarantee required.
Tenures:
Maximum of 6 years
Repayment
: Interest with course period after that maximum
of 72 EMI
Contact:
Delhi Tel: 5720849
Bangalore Tel: 2267476
Chennai Tel: 8522888
Hyderaba Tel: 4650771, 4650773
Kolkata Tel: 2484309
Mumbai Tel: 2651039
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State
Bank Of Indore
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Eligibility:
Should have first class marks and have received admission.
Repayment After completion of course.
Maximum
Amount for India : Rs 400000
Maximum Amount Overseas: Rs 400000
Documents
to be submitted: Mark Sheet and should have received
admmission.
Time
To Process: One and a half Months
Interest
Rate
In India
Upto Rs 200000 : 12% pa,
Above Rs 200000 : 13.5% pa.
For Overseas
Upto Rs 200000 : 12% pa
Above Rs 200000 : 13.5% pa.
Third Party Guarantee required.
Age:
Should be above 21 years of age.
Tenures: Maximum 5 years
Contact:
Delhi Tel: 5816062, 5749413
Bangalore Tel: 6708878, 6703717
Chennai Tel: 5383109,5387441
Hyderabad Tel: 4754603, 4754898
Kolkata Tel: 2103209
Mumbai Tel: 2073890
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State
Bank of Mysore
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Eligibility:
Admission approval
Maximum
Amount for India : Rs 1000000
Maximum Amount Overseas : Rs 1000000
Documents
to be submitted: Previous academic records,addmission
approval, address proof,income proof,introduction.
Time
To Process: A Forthnight
Interest
Rate
In India
Upto Rs 400000 : 12.5%
Above Rs 400000 : 13.5%
For Overseas
Upto Rs 400000 : 12.5%
Above Rs 400000 : 13.5%
Collateral and Third Party Guarantee required.
Tenures:
Maximum of 4 years
Repayment: Upto 16 months after completion
of course.
Contact:
Delhi Tel: 5728842, 5729585
Bangalore Tel: 6631958
Chennai Tel: 5340902
Hyderabad Tel: 3203451
Kolkata Tel: 2200991
Mumbai Tel: 2856289, 2856391
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State
Bank of Travancore
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Eligibility:
Admission approval
Maximum
Amount for India: Rs 100000
Maximum Amount Overseas: Rs 1000000
Documents
to be submitted : Previous academic record and
admission approval, fathers income tax receipt and
introduction.
Time To Process: 1 Week
Interest
Rate
In India
Upto Rs 400000 :12.5%
Above Rs 400000 : 13.5%
Collateral and Third Party Guarantee required.
Tenures:
Three Years in India
Repayment: At the end of completion of the
course.
Contact:
Delhi Tel: 5761044, 5749648
Bangalore Tel: 6709370, 6702833
Chennai Tel: 4349010, 4348979
Hyderabad Tel: 4743819, 4742960
Kolkata Tel: 2266756
Mumbai Tel: 2674329, 2670619
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United
Western Bank
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Eligibility:
Should have a good academic record.
Maximum
Amount for India : Rs 750000
Maximum Amount Overseas: Rs 1500000
Documents
to be submitted : Academic Records and admission
approval.
Time To Process: A Fortnight
Interest
Rate
In India
Upto 400000 : 13%
Above 400000 : 13.5% pa.
For Overseas
Upto 400000 it is 13%
Above 400000 : 13.5% pa.
Collateral and Third Party Guarantee required.
Tenures:
Maximum 7 years
Repayment : After completion of course
Contact:
Delhi Tel: 5725701
Bangalore Tel: 2251416
Chennai Tel: 5245070
Hyderabad Tel: 4657515, 4653064
Mumbai Tel: 5220700, 5226465
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Vysya
Bank
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Eligibility:
Admission approval
Maximum
Amount for India: Rs 750000
Maximum Amount Overseas: Rs 1500000
Documents
to be submitted: Previous academic records,addmission
approval, address proof,income proof,introduction.
Time To Process :2 Weeks
Interest
Rate
In India - 16.5%
For Overseas - 16.5%
Tenures:On
Course length.
Repayment: After completion of course
Contact
:
Delhi Tel: 3329212
Bangalore Tel: 2235189, 2230511
Chennai Tel: 8522244
Hyderabad Tel: 4753725, 4750798
Kolkata Tel: 2425440, 2423509
Mumbai Tel: 2882666, 2884247
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State
Bank Of Saurashtra
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Eligibility:
Graduation with 65% marks
Maximum
Amount for India: Rs 750000
Maximum Amount Overseas: Rs 1500000
Documents
to be submitted: Guaranty of father property's
papers
Time To Process: 1 month
Interest
Rate
In India
Upto Rs 25000 : 12%
From Rs 25000 to Rs 200000 : Rs 12.25%
Above Rs 200000 : 14.50%
For Overseas
Upto Rs 25000 : 12%
From Rs 25000 to Rs 200000 is Rs 12.25%
Collateral and Third Party Guarantee required.
Repayment: After employment Contact:
Delhi Tel: 6236549
Bangalore Tel: 2221878
Chennai Tel: 5341780
Hyderabad Tel: 3201990, 3203036
Kolkata Tel: 2101092
Mumbai Tel: 2613976
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United
Bank Of India
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Maximum
Amount for India : Rs 1500000
Maximum Amount Overseas: Rs 1500000
Documents
to be submitted: Letter of authorisation from
university, Copy of Passport & Visa, Salary slip,
Time To Process: 1 Week
Interest
Rate
In India
Upto Rs 200000 : 12%
Above Rs 200000 : 15.5%
For Overseas
Upto Rs 200000 : 12%
Third Party Guarantee required.
Tenures:
3 to 5 Years
Repayment:
6 months after completion of course
Contact:
Delhi Tel: 3360661, 3363416
Bangalore Tel: 5582179
Chennai Tel: 4941834
Hyderabad Tel: 4756994
Kolkata Tel: 2487470-72
Mumbai Tel: 2871261-62
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