Eligibility criteria.

•     You should be an Indian National.

•     You should have secured admission to professional/technical courses or other academic courses.

•     You should have secured admission to foreign University/Institution (in the case of overseas study)

What can I use the loan for ?

You can avail the loan for your school education including plus 2 stage/Graduation/Post graduation/Diploma/Computer education in any recognised State/Central Government/University. Professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc. Courses offered in India by reputed foreign universities/Evening courses of approved institutes.

How much can I get ?

You can get a maximum of Rs. 7.50 lakh for studying in India and Rs. 15.00 lakh for studying abroad.

What rate of Interest will I have to pay ?

Present Interest rate is as follows:

- Up to Rs. 4.00 lakh PLR (at the time of availing of loan). Presently 11% (Flat).

- Above Rs. 4.00 lakh PLR+1% (at the time of availing of loan). Presently 12% (Flat).

- The rate of Interest prevailing at the time of first availment shall prevail throughout the repayment period.

- Interest to be debited quarterly/half yearly on simple basis during the repayment holiday/moratorium period.

What is the margin for the loan ?

For loans upto Rs. 4.00 lakh                                                                          Nil

For loans above Rs. 4.00 lakh                                          Studies within India 5%

                                                                                    For studies abroad 15%

Scholarship/assistantship to be included in margin.

What security do I need to provide ?

For loans upto Rs. 4.00 lakh                                                                         Nil

For loans above Rs. 4.00 lakh  Satisfactory personal guarantee

and up to Rs.7.50 lakh of a third pary,