Education loan amount size
Maximum amount of upto Rs.10,00,000 will be provided for the students studying in India and for the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
More than the maximum loan amount will be provided for the efficient and capable students .
Advance amount to be paid:
Nothing till 4,00,000 Rs.
More than Rs.4,00,000 – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Upto Rs.7.50 lakhs – 14.00% p.a.
Above Rs.7.50 lakhs – Rs.14.25% p.a.
0.50% special previliage will be provided for girls.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started.The loan amount is to be closed within 5 to 7 years.
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs till 7,50,000 Rs :Third party’s guarantee is required.
More than 7,50,000 Rs.: Parents, student or the third party agreeing letter assuring the loan repayment is required.