The Kalyan Janata Sahakari Bank Limited -Kalyan Saraswati

By | March 29, 2011

Kalyan Saraswati is the educational loanoffered by the Kalyan Janata Sahakari Bank Limited in order to meet the expenses of Educational or Professional Courses.


Purpose                      – To meet expenses for pursuing higher education, at India or abroad


Eligibility                     – Should have passed all previous examinations in one attempt, must have secured admission for the desired course or program at the selected university or institute.


Eligible Expenses –         expenses eligible for financing include tuition fee, books and other study materials/ stationeries, hostel charges and other related expenses, passage money in case of foreign study.


Courses include –           graduation, post-graduation, doctoral courses, medical, dental, veterinary, engineering/ marine engineering / architecture, agriculture; management, law, pilot or air-hostess, training, IATA courses, courses of an established in reputed foreign university or institute


Loan Amount             – Maximum Rs.20 lakh (up to Rs.2 lakh without any security


Margin                         – 5% to 15%


Repayment Period     – Maximum 5 years, to start from 6 months after completion of the course or securing a job, whichever is earlier. During the period before repayment starts interest is payable every month as and when applied in the a/c.


Security                      – Up to Rs.2 lakh – no security required (only two guarantors), Over Rs.2 lakh – 100% security by way of immoveable property or financial assets like term deposits, NSC etc


Guarantors                 – Two guarantors with sufficient net worth and income, to be acceptable to the Bank similar to any otherpersonal loan


Processing Charge     – 1% of the Loan limit sanctioned

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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