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Education Loan

Fulfill your dream of higher education.

Features & Benefits

  • Zero Processing Fee
  • Personal Accident Policy with coverage of Rs 5 Lacs for the period of 5 years
  • No pre-payment charges for repayment through own source
  • Attractive interest rate
  • Simple documentation
  • Easy repayment options - ECS / Post-dated cheque / Standing Instruction
  • Speedy loan approval
  • Offers Insurance cover of all assets at attractive premium
  • Suitable moratorium for repayment
  • Hassle free disbursement directly to Educational Institution
  • Telegraphic transfer facility for educational courses abroad at nominal cost
  • Covers all academic related expense
  • Concessional rate of interest to female students

Purpose

  • Higher study in India or Abroad
    (Graduation, Post Graduation and Vocational Courses)

Eligibility

  • Confirmed admission for the course in India or Abroad

Quantum of loan

  • Secured
    Loan quantum – Max Rs.50.00 Lacs for higher studies in India & study Abroad
  • Unsecured
    Maximum Rs.5.00 Lacs for studies in India only.

    No tangible security.

    50% of the loan amount should be covered by Life insurance of the applicant.

Documentation : Refer Basic Documents - Retail Loan

In addition to the basic documents

  • Copy of Agreement or Allotment letter
  • Undertaking stating source of own funds
  • Proof of admission
  • Estimate of course fee & other expense
  • Fee receipt or proof of payment
  • Copy of Passport & Visa
  • Mark sheet & Certificate of educational qualification

Security

  • Equitable / Registered Mortgage of Immovable Asset.
  • Any liquid security by way of FDR/NSC/KVP etc .

Surety

  • One Guarantor

Repayment

  • 7 years + additional three years moratorium period or course duration whichever is less

Conditions Apply