|Purpose||:||To extend financial assistance to all eligible/ deserving/ meritorious students for pursuing higher education in India & Abroad.|
|Amount of Loan||:||For studies in India, maximum `10 lacs
Studies abroad, maximum `20 lacs
|Margin||:||For loans up to `4 lacs: No Margin
For loans above `4 lacs:
|Rate of Interest||:||CLICK HERE to view interest rates|
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- Student Should be an Indian National.
- Secured admission to professional/ technical courses through Entrance Test / Selection process.
- Secured admission to foreign University / Institution.
- Fees payable to college/school/hostel
- Examination/Library/Laboratory fees
- Purchase of Books/Equipment/Instruments/Uniforms
- Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course)
- Travel Expenses/Passage money for studies abroad
- Purchase of computers considered necessary for completion of course
- Any other expenses required to co mplete the course like study tours, project work etc.
- Completed Education Loan Application Form.
- Mark sheets of last qualifying examination
- Proof of admission scholarship, studentship etc
- Schedule of expenses for the specified course
- 2 passport size photographs
- Borrower’s Bank account statement for the last six months
- Income tax assessment order, of last 2 years
- Brief statement of assets and liabilities, of the Co-borrower
- Proof of Income (i.e. Salary slips/ Form 16 etc)
Studies in India:
- Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/ universities approved by UGC/ AICTE/ IMC/Govt. etc
- Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
- Teacher training/ Nursing courses approved by Central government or the State Government
- Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping
- Vocational Training and skill development study courses will not be covered under the Education Loan Scheme, as the scheme is framed to provide bank loans for higher studies
- Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities