||Higher Education course approved by AICTE,and Govt.,approved university/college
||For Approved Graduation, Post graduation,P.hd. ,Research courses in Engineering ,Pharmacy,Medical ,Management ,Computer
||Domestic Education Loan: Maximum Rs. 10.00 Lacs.
Foreign Education Loan: Maximum Rs. 30.00 Lacs.
(In genuine cases, Bank may consider Education loan upto Rs. 50.00 Lacs also on case to case basis based on merits of the case.)
||(i) For India -10% of fee, living exp., other eligible exp.or 60% of valuation of mortgaged property whichever lower
(ii) For Foreign –20% of fee, living exp., other eligible exp.or 60% of valuation of mortgaged property whichever lower
||Maximum 10 years (Including moratorium period by equated monthly instalment after completion of moratorium period as mentioned above)
|Rate of interest
9.10% for Female Student / Meritorious student securing admission in world TOP 50 Universities.
(refer www.timeshighereducation.com to know list of world top 50 universities)
9.25% - Others
In case of Foreign Education loan, where collateral security coverage is 125%, Margin on Education fees will be reduced from 20% to 10%.
||1.00% of the loan amount sanctioned (Maximum 25000/-)
||Two guarantor possessing property and also Income tax-payer
||(i) Up to Rs.50000/- Nil
(ii)Above Rs.50000/- Mortgage of Immovable property or lien/assignment of Govt. securities
|Conditions to avail
Benefits under PADHO PARDESH YOJNA
|(i) Only for Minority Cast.
(ii) Income eligibility up to Rs. 6.00 lacks.
(iii) Interest benefits up to 2 years.