EDUCATION LOAN
RATE OF INTEREST : 9% p.a.
FEATURES
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- Loan is granted for approved graduation/ post graduation/ professional courses after completion of HSC (10+2).
- Loan up to Rs.2.00 lacs without any collateral security.
- Loan above Rs.2.00 lacs to Rs.30.00 lacs against collateral security of immovable property (Regd. Mortgage).
- Margin 10% to be deposited by borrower.
- Father / Mother / Guardian has to be co-borrower in the loan.
- All the loan documents to be executed by both student and parents/ guardian as joint borrower.
- The loan will be disbursed in stages as per the requirement/ demand of the Institution and will be paid directly to the Institution.
- Repayment will commence one year after completion of course or 6 months after securing a job whichever is earlier. Interest amount should to be deposited regularly by the co-borrower every month.
- Repayment of loan may be made within 7 years.
- Students should also submit each semester result and fee receipt.
DOCUMENTS REQUIRED
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- Mark Sheet of last qualifying examination.
- Proof of admission.
- Schedule of expenses for the specific course
- Two passport size photographs
- ITR of last 2 years of co-borrower
- Income proof of co-borrower
- Complete detail of course, fee etc.
NOTE: RATE OF INTEREST GIVEN ABOVE ARE SUBJECT TO CHANGE