To provide financial support to deserving/ meritorious students for pursuing higher education in Abroad.

• Should be an Indian National.
• Should have secured admission to a higher education course in recognized Institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).
• In cases, where there is no Entrance Test/ Merit based selection procedure, securing admission to a higher education course in a recognized institute may be considered.
• Students, who have appeared in any Entrance Test, secured passing marks but could not get admission due to lower ranking and who opt to pursue the course under Management Quota in the same Institution or another Institution for reasons of convenience (proximity) or choice of course, will be eligible.
• No minimum qualifying marks stipulated in the last qualifying examination.

Courses Eligible:
• Graduation: For job oriented professional/ Technical courses offered by reputed universities.
• Post-graduation: MCA, MBA, MS, etc. Job oriented professional/ technical Post Graduate Diploma/ Certificate courses offered by reputed universities Doctorate Programmes (Ph.D.) courses
• Courses conducted by CIMA (Chartered Institute of Management Accountants) - London, CPA (Certified Public Accountant) in USA etc.
• Degree/diploma courses like aeronautical, shipping etc. provided these are recognized by competent regulatory bodies in India /abroad for the purpose of employment in India/abroad.

9.50% p.a subject to revision from time to time.
Simple interest to be charged during the study period and up to the commencement of repayment. Accrued interest will be added to the principal amount borrowed while fixing EMI for repayment. However, to reduce the interest burden, interest may be collected during the moratorium period.

Maximum Loan limit - Rs.6000000/-

Expenses covered under the loan:
•      Fee payable to college/school/hostel: boarding and lodging arrangements.
•      Examination/Library/Laboratory fee.
•      Purchase of books/equipment/instruments/uniforms/ computer at reasonable cost, if required for completion of the course/ any other expense required to complete the course like study tours, project work, thesis, etc. considered for loan should be capped at 20% of the total tuition fees payable by the students who do not get any concessions/ remissions.
•      Caution deposit, Building fund/ refundable deposit supported by Institution bills/receipts could be considered subject to the condition that the amount does not exceed 10% of the total tuition fees for entire course.
•      In case of Doctorate Programmes (Ph.D.) courses in India/ Abroad, the quantum of finance for such courses should be arrived at after factoring in the Scholarship/Fellowship/Honorarium etc., available to the student.

-Above Rs.20.00 lakhs : 20%

*Scholarship/assistantship to be included in margin. Margin is to be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

Repayment Period - 5 to 7 years (excluding course and moratorium period)

a) Letter of admission

b) Marks sheet of last qualifying examination for studies in India/Abroad 

c) 3 passport size photographs 

d) Rank card of the entrance examination wherever applicable. 

e) Statement of cost of study 

f) PAN Card of the student and Parent/ Guardian. 

g) AADHAAR Card of the student and Parent/ Guardian 

h) A copy of valid VISA/ Passport to be obtained (in case of education loan abroad).

i) Proof of identity (Driving Licence/Passport/Aadhaar/ any photo identity) 

j) Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill) 

k) Student/ Co-borrower/ Guarantor's bank account statement for last 6 months 

l) IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other coborrower (if IT Payee) 

m) Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower 

n) Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower (if IT Payee) n) Proof of income (i.e Salary slips/Form- 16 for last 2 years) (If salaried person) 

o) Employment details for last 5 years.(if salaried person) 

p) If the student is already employed and going on study leave, permission from the employer to be obtained. 

q) If the student is already employed and resigned for pursuing higher studies, discharge certificate to be obtained. 

r) NO DUES CERTIFICATE ‘No dues’ certificate from other Bank(s) need not be insisted upon as a pre-condition for considering Education Loan. However, a declaration/an affidavit confirming that no loans are availed from other banks may be obtained.

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