Eligible persons :

A Student of Indian Nationality is eligible to apply for the loan provided he/she has secured admission to the institution/college/university.

Courses :

Graduation courses BA, B.Com, B.Sc., etc,
Post Graduation courses : Masters & PhD
Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer Education, etc.,
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institute affiliated to the Universities.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.
Evening courses of approved institutes.
Other courses leading to diploma/degree etc. conducted by the Colleges/Universities approved by the UGC/Govt/AICTE/AIBMS/ICMR etc.
Courses offered by National Institutes and other reputed private institutions subject to obtaining prior approval from the Credit Dept.(Operations) HO.

Studies Abroad :

Graduation: For job oriented professional/technical courses offered by the reputed university.
Post graduation: MCA, MBA, MS, etc.
Courses conducted by CIMA-London, CPA in USA, etc.

Expenses Considered for Loan :

Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.

Loan Amount

Studies in India : Maximum Rs.7.50 lakhs
Studies abroad : Maximum Rs.15 lakhs

Margin :

Studies in India : Upto Rs.4.00 lakhs - Nil
Above Rs.4.00 lakhs - 5%

Studies abroad : 15%
Rate of Interest
Amount Slab Rate of interest per annum - Floating
Upto Rs. 4 lakhs 10.50%
Above Rs. 4 lakhs 11.50%
Repayment
Repayment Holiday Moratorium : Study period of the course + 1 year or 6 months after getting the job, whichever is earlier.
Security
Loans upto Rs.4.00 lakhs : No security
Loans above Rs.4.00 : Collateral security equal to 100% of the loan amount
A guarantor acceptable to the bank