Purpose – For the purpose of various expenses for the course of study like; tuition and other fees payable to the Collage, Institute, Hostel, Purchase of Books, Equipments, Instruments or Uniforms, any deposit required to be deposited, Traveling Expenses and any other expenses required to be incurred by the student for the said purpose.
Eligibility – Any individual bonafide member of the bank, who have secured admission to any professional or technical course or any other graduation or post-graduation courses in India or abroad, as a regular day time or evening courses in the recognized University or Institutes.
In case of minor student, his/her natural guardian must be member of the bank through whom Loan shall be sanctioned.
Quantum of Loan – Up to maximum of Rs. 10.00 Lakhs and Rs. 20.00 Lakhs for studies in India and abroad respectively
Margin – 5 % of cost of studies in case of loan up to Rs. 5.00 Lakhs and in other cases, at 10 % and 15 % for studies in India and for studies abroad respectively.
Type of facility – Term Loan
Sureties – Minimum of two sureties of satisfactory means
Rate of Interest – As per Bank’s rules from time to time. This is applicable for all loans such as home loan, personal loan, vehicle loan etc offered by the bank