| Courses Eligible
|
Plus
2 stage/Graduation/Post graduation/Diploma/Computer education in any recognised
State/Central Government/University. Professional courses including Engineering,
Medical, Agriculture, Veterinary, Law, Dental, Management, courses like
ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc. Courses
offered in India by reputed foreign universities/Evening courses of approved
institutes.
|
| Student Eligibility
|
You should be an Indian National
|
| You
should have secured admission to professional /technical courses or other
academic courses
|
You
should have secured admission to foreign University/Institution
|
| Quantum of Finance
|
Need
based finance subject to repaying capacity of the parents/students with
following margin and ceilings.
|
| Margin
|
Upto
Rs.4.00 lacs NIL. Above 4.00 Lacs, the following slabs apply.
|
| Security
|
For
loans upto Rs. 4.00 lakh Nil
For loans above Rs. 4.00 lakh Personal guarantee of your parent(s)
Collateral security in the form of NSC/KVIP, LIC Policy, Gold, Shares/Debentures
or immovable properties Bank Deposits in the name of student/Parent/Guardian
or any other third party with suitable margin.
|
| Repayment
|
To be repaid in 5 to 7 years.
|
| Holiday
|
6 - 12 months after completion of the course.
|
| Interest Rate
|
Up
to Rs. 4.00 lakh PLR (at the time of availing of loan). Presently 12%
(Flat).
- Above Rs. 4.00
lakh PLR+1% (at the time of availing of loan). Presently 13% (Flat).
- The rate
of Interest prevailing at the time of first availment shall prevail
throughout the repayment period.
- Interest
to be debited quarterly/half yearly on simple basis during the repayment
holiday/moratorium period.
|
