Purpose – To offer financial assistance to deserving students of the country to pursue higher education in India and abroad
Eligibility – Meritorious student pursuing higher education in India/ Abroad; Any Graduation /P.G. level or Professional course, for Diploma or Degree of Government/ Government approved institute in India and abroad; need bone finance subject to repaying capacity of parents/Students.
Repayment Period – For loans as up to Rs.7.50 lakhs for India & up to Rs. 15.00 lakhs for Abroad; The loan to be repaid in Max of 5-7 years.
For Loans above Rs. 7.50 lakhs for study in India and above 15.00lakhsfor abroad. The loan to be repaid in Max of 5-10 years after commencement of repayment
Processing Charge – Student applying for loan limit above Rs. 4lakh should deposit Rs. 5000/- as sundry deposit. This will be forfeited if loan is not availed.
Margin – Study in India: Up to Rs. 4lakhs: “NIL”; above Rs. 4lakhs: 5 %
Study Abroad: Up to Rs. 4lakhs: “NIL”; above Rs. 4lakhs: 15 %
Quantum of Loan – Study in India Maximum Rs. 10.00lakhs; Study at Abroad Maxi Rs. 20.00lakhs.
Moratorium – Course period + 1 year or 6 month after getting job whichever is earlier.