Education Loan Scheme – Personal Banking

Education Loan Scheme – Personal Banking

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Education Loan

A term loan awarded to Indian Nationals for pursuing advanced schooling in Asia or abroad where admission happens to be guaranteed.

  • Repayment period of upto 15 years after Course Period + 12 months of payment holiday*
  • Processing Costs
    • Loans upto Rs. 20 lacs: NIL
    • Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
  • Protection
    • Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or 3rd party guarantee
    • Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and concrete security security
  • Margin
    • Up to Rs 4 Lacs – Nil
    • Above Rs 4 Lacs – 5% for studies in Asia, 15% for studies in abroad
  • Repayment will commence one after completion of course year.
  • Loan to be repa

    Eligibility

    • A phrase loan given to Indian Nationals for pursuing advanced schooling in Asia or abroad where admission was guaranteed.

    Courses Covered

    Studies in Asia