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Education Loan

ELIGIBILITY :-

  • Students who have successfully completed HSC (10 plus 2 or equivalent) and obtained admission to the following courses can apply for Education Loan as a Co-Borrower with an Earning Parent / Guardian / Spouse (for married borrowers) who is a shareholder of the Bank
  1. For studies in India:
  • Graduate / Post – Graduate level courses (through the respective merit bases selection process applicable to course) conducted by Colleges / Universities recognized by the Universities Grant Commission (UGC) / Govt. of India / All India Council of Technical Education (AICTE) / All India Board of Management Studies (AIBMS) / Indian Council of Medical Research (ICMR) and other such Govt. recognized governing bodies.
  1. For studies abroad:
  • Graduate / Post – Graduate level courses such as MBA, MCA, MS, Degree / Diploma courses like Aeronautical, Pilot Training, Shipping Courses etc., conducted by reputed colleges and universities abroad.

EXPENSES CONSIDERED FOR LOAN:-

  1. Fee payable to College / School hostel
  2. Exam / Lab / Library / Travelling Expenses / Insurance Premium (if applicable) / Refundable Deposits etc.
  3. Purchase of books and Uniforms / Purchase of mandatory Equipment (such as computer etc.)

Note:

  • Ceiling for expenses in point (i) and (ii) shall be 10 % of the total tuition fees for the entire course.
  • Ceiling for expenses in point (iii) shall be 20 % of the total tuition fees for the entire course.

 

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