LOAN TO MEET EXPENSES FOR HIGHER STUDIES BY BRIGHT STUDENTS
| Purpose | Education loans to students to pursue higher education from Educational Institutions approved by the Govt. recognised Universities in India and Abroad. |
| Eligibility | Students with bright academic carreer. |
| Nature of facility | Term Loan |
| Amount of Limit | 1.Rs.10.00 lacs- Maximum for Education in India 2.Rs.20.00 lacs -Maximum for Education Abroad |
| Basis of Advance | Depending upon Guardian’s income, value of security, guarantee,study expenses including lodging, boarding and travel expenses. |
| MORATORIUM PERIOD | From date of disbursement till completion of the study period. However, interest will have to be serviced by the guardian as and when applied. |
| Repayment Period | Upto 7 years (Inclusive of Moratorium Period). |
| Rate of Interest | CLICK HERE FOR THE RATES |
| Processing fees | As per policy of the Bank from time to time . At present NIL. |
| Shareholding/ Membership Contribution | 2.50% of loan amount for limits of Rs.1.00 lac and above. |
| Guarantee | Suitable guarantors with good net woth and acceptable to the Bank |
| Security | As applicable and as acceptable to the Bank. |
| Conditions apply |