Purpose: To offer financial assistance for the purpose of education in India and abroad
Eligibility: Students who have secured admission in recognized institutions in India and abroad
Quantum of Loan: Maximum Rs. 1000000/- for studies in India and maximum Rs. 2000000/- for studies abroad
Rate of Interest: 10.5% for education in India and abroad
Margin: 10% for education in India and 15% for education abroad
Repayment: maximum 60 months for education in India and abroad
Processing Charge: 0.50% for education in India and abroad
Prepayment: No Repayment Charges
Documents Required: Parent will be Co-Borrower with Student, Recent Passport Size Color Photographs, Age Proof, Address proof, Identity Proof, Signature proof with self; attestation Passport Visa (In Case of Abroad), Salary Slip I.T. Return for Last 3 Years Form No.16; advance cheque for Processing Fees, margin money receipt, Post Dated Cheques
Others: Flexibility in Repayment more than EMI; No Hidden Charges; Moratorium Period Equitant to Duration of Course is allowed; Course Details & Proof of Confirmed Admission; Collateral Security of Parent
Apart from the education loan the bank also offers home loan, personal loans, vehicle loans, doctor loans etc.