Eligibility of borrower:
- Having current/saving account holder of the Bank.
- Borrower must be a member of the Bank.
- Student must have good academic record.
- Student must have secured admission.
- Student must have passport & visa for abroad education.
Purpose of Loan:
- For higher educational courses like Diploma, Graduation, Post-Graduation and Specialize courses in india & Abroad.
Quantum of Finance:
- Cost of Tuition fee, Hostel fee, etc.
- Borrower must have Bank share holding @ 1% of the loan sanction amount.
- Loan tenure up to 72 months (Up to 2 years Moratorium period, if required).
- Nominal Processing Charge
- 2% loan closure charge of loan outstanding amount will be charged, In case of Loan closed above Rs. 10 Lacs through Bank transfer.
- Easy Process
- Interest is to be charged on reducing balance method.
- Two Guarantors, out of one must be a non-relative guarantor.
- Mortgage of property.