| Eligibility Criteria : |
Student Eligibility :
- Student should be an Indian National
- Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process.*
* Correspondence courses are not eligible. |
| Quantum of Finance : |
Need based finance subject to repaying capacity of the parents /students within the following ceilings.
Studies in India - Maximum Rs.10 lacs
Studies abroad - Maximum Rs.20 lacs. |
| Margin: |
| Upto Rs. 4.00 lac. |
NIL |
|
| Above Rs. 4.00 lac: |
Studies in India |
: 5% |
| |
Studies Abroad |
: 15% |
Scholarship/assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis. |
| Security: |
| Study in |
No Security
(A) |
Third Party Guarantee And/ Or Collateral
(B) |
Collateral & Third Party Guarantee
(C) |
India |
Upto Rs.4 lac |
Above Rs.4 lac & Upto Rs.7.50 lac |
Above Rs.7.50 lac |
Abroad |
Upto Rs.4 lac |
Above Rs.4 lac & Upto Rs.7.50 lac |
Above Rs.7.50 lac |
|
| Rate of Interest: |
| Particulars |
Upto Rs.4 Lac |
Above Rs.4 Lac & Upto Rs.10 lac |
Above Rs.10 Lac & Upto Rs.20 lac |
Above Rs.20 Lac & Upto Rs.25 lac |
General Public |
BPLR (-) 1.25% |
BPLR (-) 0.75% |
BPLR(-) 0.25% |
BPLR(-) 0.25% |
Staff as co-borrower |
BPLR(-) 2.00% |
BPLR(-) 1.50% |
BPLR(-) 1.00% |
BPLR(-) 1.00% |
Concession in interest |
0.50%,if either collateral or guarantee is given |
0.50%,if collateral in addition to guarantee is given |
No Concession |
No
concession |
- Concession of 0.50% in the aforesaid interest rate structure for girl students , subject to floor rate of 10.75%
- Additional concession @ 2% to all borrowers on account of service of interest during moratorium period subject to minimum rate of interest ( Floor rate ) @ 11.25% ( for boys) and @ 10.75% for girls irrespective of amount of loan and category of borrowers & concession , is allowed .
- Simple interest to be charged during moratorium period / Repayment Holiday
Penal interest @ 2% be charged for above rs.4 lakh for the ovrdue amount and overdue period
|
* for details please contact our nearest branch.
