Education Loan

Overview

With no restriction on age limit and host of benefits, our Education Loans for studies both in India and abroad can be availed at attractive interest rates. Zero processing fee, Simple documentation, Quick loan disbursal and conformable repayment tenure makes it even more attractive.

Interest Rate

QUANTUM OF LOAN

India-10L; Abroad-20L

ELIGIBILITY

courses in India and Abroad

MARGIN

5%-for studies in India
15%-For studies abroad

REPAYMENT

Upto 7.5L-120 Months
Above 7.5L-180 months

SECURITY

Below 4L -NO Security
Above 4 L-Co-Obligations of Parents
Above 7.5L Third party guarantee, co-obligation of parent and collarteral

AGE LIMIT

No such limits

PROCESSING FEE / PREPAYMENT PERIOD

NIL

MOROTORIUM PERIOD

Course period +1year/6months after employment (or)  24 months after completion of studies

INTEREST RATE

Boy Students

 

One year MCLR + 3.10%

 

(PER: 13% p.a.)           

 

Girl Students

 

One year MCLR+2.85%

 

(PER: 12.85% p.a.)

 

Note: Interest will accrue on simple interest basis during the holiday period and such accrued interest of the holiday period will be added to the principal amount at the beginning of the repayment period for calculation of the repayment in EMIs.

 

 

 

 

 

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