Loan Account

Education Loan
Changing Lives One At A Time..

Learning Today For A Better Tomorrow

Quality education is a must for complete and successful life, the cost of education is, however increasingly rapidly. An education loan plays a vital role in such scenario to bridge the gap between the shortfall and the required amount.


Education loan covers basic course fee and other related expenses such as college accommodation, exam and other miscellaneous charges.Once the loan is approved , the loan proceeds are disbursed directly to college or university as per given fees structure.


It is a long term loan; Generally the repayment starts when the course is completed ,students are also provided a moratorium period of six months after graduation.

Features & Benefits

  • Rate of Interest : 8% p.m.
  • Repayment Period : 180 Months
  • Loan Limit : Fee Structure as per course
  • SMS Alerts for transactions, EMI due date reminder
  • E-Statement Facility

Eligibility

  • The candidate applying loan should be resident of India having confirmed admission in recognised educational institutes / universities afflicted by competent authority of India.
  • Age should fall in bracket of 18 to 35 years of loan application.
  • Co-Applicant can be parent / guardian or spouse (in case of married candidates).

Documentation

  • Proof of Residence - Electricity Bill / Telephone Bill / Passport / Aadhar Card
  • Proof of Identity - Aadhar / PAN Card
  • Proof of Income - Salary Slips / Last 3 years Balance Sheets or Income Tax Returns.
  • Passport Size Photograph.
  • College / Educational Institution fee structure

Security

  • Collateral Security determined on case-to-case basis.
  • Two Sureties.

Note: Loan Amount depends on the repaying capacity.

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