Purpose – We provide Education Loan for financing professional courses like- Engineering, Medical, Computers (hardware, software), Agriculture, Veterinary, Craft and designing, Management, Cost Accountant, Chartered Accountant, Company Secretary, Aeronautics, Marine Engineering etc.
Eligibility – Professional course like engineering, medical, computers (hardware and software) agriculture, veterinary, craft & designing, management cost accountant, chartered accountant, company secretary, aeronautics, marine engineering etc. Course offered by national institute/ reputed private institution / university.
Expenses Covered – Fees payable to college or university or hostel; Exam Fees, Library/ laboratory Fees; Purchase of books, equipment, computers & uniform; Caution Deposit/Building Fund; Boarding & Lodging expenses etc
Repayment Security – Pre EMI-interest to be paid regularly by parents or guardians; EMI will start after moratorium period. Maximum Time period of Loan will be five year to seven year depending upon the nature of course.
Moratorium – Pre EMI-Interest to be paid regularly by parents/guardians
Rate Of Interest – The rate of interest is 12.00%
Security – In case the amount of finance is below Rs. 1,00,000/,Two guarantors of sufficient means and standing with net worth not less than 100% of the loan amount . Apart from above, collateral security in form of title deed, LIC, term deposit, liquid assets, and marketable securities etc. will be taken unlike other loans such as home loan or personal loan.