Education Loan Scheme – Personal Banking

Education Loan Scheme – Personal Banking

Education Loan Scheme Brand New

Education Loan

A term loan provided 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 Fees
    • Loans upto Rs. 20 lacs: NIL
    • Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
  • Safety
    • Upto Rs. 7.5 Lacs Parent/ that is: Only Guardian co-borrower. No Collateral Security or alternative party guarantee
    • Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and collateral security that is tangible
  • Margin
    • Up to Rs 4 Lacs – Nil
    • Above Rs 4 Lacs – 5% for studies in India, 15% for studies in abroad
  • Repayment will commence one 12 months after conclusion needless to say. […]