NKGSB Co-operative Bank Limited offers educational loan to individuals with low processing fees, speedy loan approval.
Purpose – Higher study in India or Abroad (Graduation, Post Graduation and other professional courses)
Eligibility – Confirmed admission for the course in India or Abroad
Quantum of loan – Up to Rs.15 Lacs for Higher studies in India and Up to Rs.20 Lacs for Higher studies abroad
Documentation – In addition to the basic documents a copy of Agreement or Allotment letter, undertaking stating source of own funds, proof of admission, estimate of course fee & other expense, fee receipt or proof of payment, copy of Passport & Visa, mark sheet & Certificate of educational qualification
Security – Collateral Security
Surety – 2 Guarantors one among them must be the parent.
Repayment – 7 years + additional three years moratorium period or course duration whichever is less.
Repayment options – Easy repayment options – ECS/ Post dated cheque / Standing Instruction, Speedy loan approval
Pre-payment charge – There is no per-payment charges for repayment through own source
The bank offers suitable moratorium for repayment and easy disbursement directly to Educational Institution, Telegraphic transfer facility for educational courses abroad at nominal cost.The loan covers all academic related expense and the bank offers concessional rate of interest to female students unlike any other personal loan.