Education Loan


To meet the expenses of Post Graduation / Job Oriented Professional courses in India and Abroad


Salaried Employees / Businessmen / Professionals having regular source of income 
Student should have secured admission by Entrance Test / Merit basis selection
Loan will be granted to parent with student as Co-Borrower

Loan Amount

Maximum Rs.10/- Lac for domestic and Rs. 20 lac for abroad 
Loan will be disbursed in stages as per requirement 
Loan amount will cover course fees + Study Material + Hostel Expenses

Margin Period

Maximum 7 years ( including moratorium period)
Moratorium - Course period + 1 year OR 6 months after getting job whichever is earlier

Rate of Interest

Attractive rate of interest


Collateral security equal to quantum of finance


Two competent guarantors acceptable to bank.

Processing Charges

0.5 % of the loan amount applied


As per Bank's rule

Special Features

·         No prepayment charges

·         Issue of Solvency Certificate

·         Foreign Currency / Demand Drafts / Traveller’s cheques available

Documents Required

I. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors 
II. In case parent is salaried person, salary slip for last 3 months and bank statement for last 6 months, ITR for 3 years
III. In case parent is businessman, last 2 years profit & loss and balance sheet, ITR copies of last 3 years and bank       statement of business account for last 6 months.
IV. Bonafied certificate from college / Admission confirmation letter 
V. Structure of fees for full course duration from college
VI. Attested copies of last year’s mark list / Degree Certificate / School Leaving Certificate
VII. Property / Collateral Security Details with legal documents