Note: All documents should be self-attested.
Education loan is provided for higher education in Graduate/ Post Graduate courses from domestic or international education institute. The required eligibility –
For domestic Institutes:
Approved courses leading to Graduate/ Post Graduate degree or Post Graduate Diploma conducted by recognised colleges/ universities recognised by UGC/ AICTE/ Government/ AIBMS/ ICMR etc.
For international Institutes:
Job oriented Regular degree or post graduate diploma/ professional courses offered by reputed institutes at Under Graduate (UG) and Post Graduate (PG) level in any discipline offered by foreign Institutes/ Universities preferably in USA, UK, Australia, Canada, Singapore, Europe, Hong Kong and New Zealand.
Expenses covered
FAQs
Is margin money required for education loan?
Based on amount of loan it ranges from bank to bank between 5% to 15%.
What is maximum tenure of loan?
Maximum tenure varies from 7 years to 15 years
Is collateral security required?
Yes, collateral security is required by Banks for loan above Rs. 20 lakh. Security can be owned by parents, relative or any third party guarantor.
Checklist of Documents to be submitted along-with duly filled Loan Application Form –
Note: All documents should be self-attested.
