LOAN FOR EDUCATIONAL PURPOSE

 

 

Eligibility of borrower:

  • Having current/saving account holder of the Bank
  • Borrower must be a member of the Bank
  • Student must have good academic record
  • Student must have secured admission
  • Student must have passport & visa for abroad education

Purpose of Loan:

  • For higher educational courses like Diploma, Graduation, Post-Graduation and Specialize courses in India & Abroad


Quantum of Finance:

  • Cost of Tuition fee, Hostel fee, etc


Features:

  • Loan tenure up to 72 months (Up to 2 years Moratorium period, if required)
  • Nominal Processing Charge
  • 2% loan closure charge of loan outstanding amount will be charged, In case of Loan closed above Rs. 10 Lacs through Bank transfer
  • Easy Process
  • Interest is to be charged on reducing balance method
  • Two Guarantors, out of one must be a non-relative guarantor


Security:

  • Mortgage of property