Studies in India.
School education including plus 2 stage
Graduation: B.A., B.Com, B.Sc., etc.
Post graduation: Masters & Ph.d.
Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. in respect of Management studies, apart from university affiliation course should also be approved by All India Council for Technical Education. For Computer education, the recognised training institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics.
Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities.
Courses like ICWA, CA, CFA etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Courses offered in India by reputed foreign universities
Evening courses of approved institutes.
Other courses leading to diploma/degree etc. conducted by colleges/ universities approved by UGC/ Govt AICTE/AIBMS/ICMR etc.
Courses offered by National Institutes and other reputed private institutions acceptable to the Bank.
Studies abroad.
Graduation: For job oriented professional/technical courses offered by reputed universities
Post Graduation: MCA, MBA, MS. Etc.
Courses conducted by CIMA-London, CPA in USA etc.
Foreign Diploma courses are not eligible
STUDENT ELIGIBILITY
Should be an Indian National
Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process.
Secured admission to foreigh university / institutions.
The student who is a major representing himself or a minor student represented by parent or guardian.
QUANTUM OF LOAN
Need based finance to meet expenses such as fee payable to college / school / hostel, examination fee, cost of books, travel / passage fare for studies abroad etc.
Capitation fee / donation / external coaching fee are not eligible for finance.
Maximum of Rs.7.50 lac for studies in India and Rs.15 lac for studies abroad.
MARGIN
For loans upto Rs.4 lac - No Margin required
For loans above Rs.4 lac - 5% for study in India and 15% for study abroad.
SECURITY
For loans upto Rs.4 lac - NIL
For loans above Rs.4 lac and upto Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
For loans above Rs.7.50 lac - Collateral security equal to 100% of the loan amount with suitable margin and a third party guarantee acceptable to the Bank.
Note: In all the above cases, the parent / guardian shall join the transaction as surety
INTEREST RATE
For loans upto Rs.7.50 lakhs - PLR minus 1%
For loans above Rs.7.50 lakhs - PLR minus 1.5%
REPAYMENT
In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.
CAPABILITY CERTIFICATE
Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.