Allahabad Bank Education Loan Scheme

Eligibility Criteria:

(a) Student eligibility:

Student be an Indian National

Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process.

(b) Courses Eligible:

Studies in India

Graduation Courses- B.A, B.COM, B.Sc. etc.

Post Graduation Courses: Masters Courses, Ph D, etc.

Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.

Courses like- ICWA, CA, CFA etc.

Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.

Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course pursued abroad, the Institute should be recognised by the competent local aviation/ shipping authority.

Courses offered in India by reputed foreign universities.

Evening Courses of approved Institutes.

Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.

Studies Abroad:

Graduation: For Job oriented professional/technical courses offered by reputed Universities.

Post Graduation: MCA, MBA, MS etc.

Courses conducted by CIMA London, CPA in USA etc.

Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:

Studies in India: Maximum Rs 10.00 lacs

Studies abroad: Maximum Rs. 20.00 lacs.

Expenses Considered for Loan

Fee payable to College / School /Hostel

Examination/Library/Laboratory Fee

Purchase of Books / Equipments/ Instruments/ Uniforms.

Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.

Travel Expenses/Passage Money for studies abroad.

Purchase of Computers essential for completion of the course.

Insurance premium for student borrower.
Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.

Margin

For loan upto Rs 4.00 lacs: NIL
For loan above Rs 4.00 lacs:
(i) Studies in India: 5%
(ii) Studies abroad: 15%
Scholarship / Assistantship to be included in Margin.
Margin Money to be brought on year-to-year basis and disbursements are made on a pro-rata basis.

Rate of Interest:

Loan Upto Rs. 4.00 lacs
For students of IIT / IIM/ ISB*	PLR-1.75%
For Others	PLR-0.75%
Loan above Rs. 4.00 lacs
For students of IIT / IIM/ ISB*	PLR-1.75%
For Others	PLR-1.00%

*ISB means Indian School of Business, Hyderabad
Girl students may be provided a special relief of 1.00% in all cases as above.

Application of Interest:

Simple interest during moratorium period.
Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.

Repayment:

Repayment Holiday / Moratorium is Course Period + 1 year or 6 months after getting job, whichever is earlier.

Loan to be repaid within a maximum period of 7 years after commencement of repayment.

Security:

For IIT/IIM/ISB* For loan upto Rs 10.00 lacs- No collateral security is required. co-obligation* of parents/ guardian required

*ISB means Indian School Business, Hyderabad

For others

For loan upto Rs 4.00 lacs: No collateral security is required. co-obligation* required For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Satisfactory third party guarantee & Co-obligation* required.

For loan above Rs 7.50 lacs: (a) Co-obligation * of parents/ guardian together with tangible collateral security of suitable value covering full loan amount, alongwith the assignment of future income of the student for payment of installments.

*(The loan documents would be executed by both the student and the parent/ guardian as joint-borrower i.e. co-obligator. The co-obligation should be parent / guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law.)

Processing Fee:

Processing Fees/ Documentation Charge:

For studies in India- Nil
For studies abroad -Rs.500/- upfront subject to the conditions that this amount would be adjusted against the loan amount once the loan is availed from us.

Mortgage Charges:

Actual expenses, if any, will be borne by the Student/Parent or Guardian.

Delivery Channel

From all of our branches (Presently more than 2150) spread throughout the country.
On-line sanction for leading 250 institutions within 72 hours.

Insurance: 

Group Life Insurance Cover
-For entire loan liability in tie-up with LICI
(One time upfront premium, can also be financed by adding into project cost.), Prospective borrowers, who are not covered under the group insurance scheme, will be allowed to take a single premium term insurance cover equal to the loan amount, individually on their own or premium being a component of project cost for financing.

For more Details : www.allahabadbank.com

Andhra Bank Education Loan Scheme

Dr. Pattabhi Vidya Jyothi Educational Loan

Eligibility:
Age :

12-30 years for studies in India
18 to 35 years for study in other countries
Qualifying Marks Exempted
Quantum of Loan:

Maximum
Rs. 10.00 Lacs for studies in India
Rs. 20.00 Lacs for Studies Abroad
Purpose of Loan :

To meet cost of Tuition fee, Hostel fee, Examination fee, Books, Project work, Study tours, and Refundable deposits.

PLUS

AIR PASSAGE AND MAINTENANCE, FOR ABROAD STUDIES.
Margin :

Upto Rs.4.00 Lacs Exempted
Above Rs.4.00 Lacs 5% In India 15% for Abroad Studies.
Security:

Upto Rs.4.00 Lacs guarantee of parent
Rs.4.00 to 7.50 lacs - guarantee of the parent
Above Rs.7.50 Lacs--Collateral Security of suitable value & guarantee of the parent
Interest:

Upto Rs.4.00 Lacs--(BMPLR -1.25) - Presently 11.75%
Above Rs.4.00 lacs--(BMPLR + 0.50) presently 13.50%
(BMPLR at present: 13.00%)
Concession of 0.50% for women for sanctions after 01.07.2005
DIFFERENT RATES OF INTEREST - DIFFERENT INSTITUTES

Wherever Andhra Bank has entered into MOU with
IIRM,BITS,Pilani ; BITS, Goa ; IPE ; Goa Institute of Management
Rate of Interest is 9 % fixed.
ISB - Rate of Interest (BMPLR -3.50) is 9.50 % floating
GMRIT ; SVUCCMIS, Tirupathi ; IIIT, Hyderabad ;CIHL(ZIC
Center, Gurukulam)Hyderabad ; Balaji Society, Pune ; ICFAI Business
School -Rate of Interest is (BMPLR-2.00) 11.00 % Floating

NO PROCESSING CHARGES ; NO PREPAYMENT CHARGES APPLICABLE
INTEREST WILL BE CHARGED ON SIMPLE BASIS DURING STUDY /HOLIDAY PERIOD only.



B) AB Career Advancement Loan Scheme (ABCALS)

Eligibility   

Permanent employee of Govt / Public Sector Cos / Corporations /reputed Companies with 10 years of balance of service. 
Purpose       

For studies with reputed Institutes and with International affiliations (Computer including printer can be purchased for all the courses with a maximum of Rs.50,000/-, within the over all limit.)    
Amount of loan

Maximum Rs.7.50 Lakh
Margin

10 %
Collateral security

NSCs, KVP, LIC policy surrender value, Govt. securities, Gold ornaments, Bank deposits, Building/flat of applicant /
co-obligant value not less than loan amount.
Gestation Period

One month
Repayment period

Maximum 60 monthly installments commencing after one month from the date of advance.

Prepayment Charges

2% flat on the prepaid amount for all Term Loans where the repayment is fixed beyond 36 months. i.e. installments paidahead of repayment schedule.            


Other requirements

i) No objection certificate from the employer for  prosecuting higher studies and to avail loan from the Bank.
ii)Salary undertaking letter from employer for recovery of installments.
iii) Undertaking letter from employer to adjust the dues to the bank from out of terminal benefits, of the employee
if needed,.    

 For more Details  :        www.andhrabank.in

Axis Bank Education Loan Scheme

Study Power

Higher education within your reach
Axis Bank's Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level.

Loan up to Rs 7.5 lacs for studies in India

Loan up to Rs 15 lacs for studies abroad

Quantum of Loan
The quantum of finance under the scheme is capped at Rs 7.5 lacs for studies in India and Rs 15 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs 50,000.
Margin:

No margin for loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies overseas.
Rate of interest:

Interest rates linked to PLR.
Role of the Guardian:

The parent(s) or guardian of the student would be treated as a co-applicant of the loan. His or her role would be, necessarily, like the primary debtor.
Security:

Third party guarantee and/or collateral security may be asked for in appropriate cases.
Additional Security:

Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the loan amount. The policy is kept alive during the currency of the loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.

Disbursement:

The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.
Penalty for early closure:

Nil.

 For more Details  :        www.axisbank.com

Bank of Punjab Education Loan

The high cost of education in premier institution need no longer stand between you and your career aspirations. If you have the drive, we will take care of your finances.
While you plan your education in world class universities, Education Loan will take care of all your expenses from accommodation and tuition fees to purchasing computers.
Yes, we believe in facilitating world class education to those who aspire. We believe in making careers happen !
Easily affordable terms and quick hassle free processing repayment on monthly installments.
So what are you waiting for ? Just walk into your nearest Centurion Bank of Punjab Branch and a team of executives will assist you in every way almost transporting you to your chosen university.

Eligibility
You are eligible if you :

Are a resident of India.

Have an offer / admission letter / are bonafide student of a college / university in India or abroad.
Expenses Covered
The following expenses can be claimed under the scheme

Admission / Tuition fee to be payable to College / University / Institution.

Air fare / Travel Expenses.

Boarding and Lodging expenses.

Books and Stationery expenses.

Instruments / equipment / computer expenses required for the course undertaken.

Examination / Library / Laboratory fee.

Any other expense required to complete the course - like study tours, project work, thesis, etc.

Rate of Interest
As applicable from time to time.

Repayment Plan

Repayment of loan starts after studying & moratorium* period and can go up to a maximum of 7 years.
* Moratorium period is a max. of 6 months after course completion or one month after getting a job whichever is earlier.

Documents Required

The following papers/documents should accompany the Application Form to be executed by both the students and the parents/guardians.
Documents Required from both the student / co-applicant

Identity Proof : Copy of Passport / Driving Licence / Voters Identity Card / Income Tax Pan Card.

Residence Proof : Copy of Passport / Driving Licence / Voters Identity Card / Utility Bills

Age Proof : Copy of Passport / Driving Licence / Income Tax Pan Card / Birth Certificate.

Signature Verification.

One Singed Photograph ( On the face).
Abroad

Offer / Admission / Bonafide student letter from the university / college in India or Abroad.

Cost of the Course ( including living).

Copy of last examination passed result.

Copy of Passport in case of study abroad.

Documents required from the co-applicant

Income Proof : Form 16 or Income tax returns for the last two years.

Collateral Security Papers ( if any).

Any other document / information as needed by Bank, depending upon the case and purpose of loan.



NOTE :

1. All loans are at the sole discretion of Centurion Bank of Punjab Ltd.

2. Repayment of Loan through Post Dated Cheques (PDCs).



 For more Details  :       www.centurionbop.co.in

Bank Of Maharashtra Education Loan

Purpose

For studies in India

For studies abroad

Eligibility

You should be an Indian National

You should have secured admission to professional / technical courses through entrance test / selection process.

You should have, secured admission to foreign university / institutions

Amount For studies in India : Maximum Rs.10.00 lac

* For studies abroad : Maximum Rs. 20.00 lac

Margin

There is no margin up to Rs.4.00 lac.

For loans above Rs.4.00 lac.

For studies in India : 5%

For studies abroad : 15%

This may include own contribution as well as scholarship.

Rate of Interest

Click here to view the Interest Rate

Security

No security required upto Rs.4.00 lac loan.

Above Rs.4.00 lac securities are required to be furnished as under either singly or in combinations-
Government securities, public sector bonds.

Units of UTI, Shares (as per our approved list from time to time), Debentures.
L.I.C. Policies.

NSCs/KVPs, Banks own deposits

Mortgage of land and Building

The eligible securities are as above. However terms apply.
Value of collateral security after providing requisite margin, as stated above should be equal to the Quantum of finance.

Repayment by EMI

You get a repayment holiday of one year after completion of the course selected or 6 months after getting a job (after which your repayment will start).

The loan is then to be repaid in 5 years after commencement of repayment.

Processing Fee

Nil.

Expenses Considered

 Tuition fees, hostel expenses, purchase of books/ equipments/ instruments etc. Travel expenses for studies abroad & other essential expenses.

Courses Eligible

Studies in India

School education including plus 2 stage of CBEC & State Education Boards.

Graduation courses/Colleges under universities approved by UGC.
B.A, B.Com, B.Sc. etc.

Post graduation courses, Masters and PhD

Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Computer certificate courses of reputed institutes accredited to Dept.of Electronics or institutes affiliated to university.

Courses like ICWA, CA, CFA etc.

Courses offered in India by reputed foreign universities.

Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.

Evening courses of approved institutes recognized by State/ Central Govt.

Other courses leading to diploma/degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ ICMR etc.
Studies abroad

Graduation : For job oriented professional/ technical courses offered by reputed universities.
Post graduation : MCA, MBA, MS etc.
Courses conducted by CIMA - London, CPA in USA etc.




Documents to be Furnished

Proof of being an Indian national i.e., School Leaving Certificate.

Letter confirming selection through Entrance Test.

Letter confirming admission to foreign university/institutions.

Brochure of the educational institution stating the amount of fees charged.

 For more Details  :       www.csb.co.in

Bank of India - Star Education Loan

Star Education Loan

OBJECTIVE & PURPOSE:
The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.

ELIGIBILITY CRITERIA:

a) STUDENT'S ELIGIBILITY:

Should be an Indian National;
Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
Good academic career.
The student should not have outstanding education loan from any other Institution.
Father/Mother should be co-borrower.
Branch nearest to the permanent residence of student will consider the loan.

b) ELIGIBLE COURSE:

 (i) Studies in India (Indicative list):
Graduation courses : BA, B.Com., B.Sc., etc.
Post Graduation courses : Masters & Phd.
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Evening courses of approved institutes.
Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office.
Courses offered in India by reputed foreign universities with prior approval of Head Office.

Note :
1. Professional courses not approved by AICTE and conducted by Institutes not recognised by State Universities is outside the purview of the eligibility under the scheme.
 2. Special scheme for students admitted to IITs, at concessional rate of interest.
  

 (ii) Studies abroad:
Graduation : For job oriented professional/technical courses offered by reputed universities.
Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA - London, CPA in USA, etc.
3. EXPENSES CONSIDERED FOR LOAN :
Fee payable to college/school/hostel*
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments/uniforms.
Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
Travel expenses/passage money for studies abroad.
Purchase of computers - essential for completion of the course.
Insurance cover for the student.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
* As per brochure/ demand letter from the institution.
QUANTUM OF FINANCE :

Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings :
Studies in India - Maximum Rs.10.00 lakh
Studies abroad - Maximum Rs.20.00 lakh.
MARGIN :

Upto Rs.4 lakh : Nil
Above Rs.4 lakh - Studies in India : 5%
Studies Abroad : 15%
· Scholarship could be included in margin.
· Margin to be brought in on year to year basis as and when disbursements are made.
SECURITY:

Upto Rs. 4 lakh : No security
Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee.
 Above Rs.7.5 lakh : Collateral security of suitable value or at the discretion of the Bank suitable third party guarantee alongwith the assignment of future income of the student for payment of installments.
Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc.,in the name of Student/Parent/Guardian/Guarantor with suitable margin.
RATE OF INTEREST

Upto Rs.7.50 lacs – 2.00% below BPLR, Min. 11.25% p.a.
Above Rs.7.50 lacs - 1.00% below BPLR, Min. 12.25% p.a.
Simple interest during the repayment holiday/moratorium period. · Penal interest @2% for loans above Rs.4 lakh for the overdue amount and overdue period.
Int. Concession of 0.50%p.a. for woman beneficiaries for limits upto Rs.50,000/- and 1% for limits over Rs.50,000/-
1% int. concession if interest is serviced during moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period)

INSURANCE :

All the student borrowers are offered a specially designed Term Insurance cover and the premium can be included as an item of finance.
REPAYMENT:

Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is to be repaid in 5-7 years after commencement of repayment.



OTHER CONDITIONS :

i) Loan to be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipments/instruments to the extent possible;
ii) Student to produce mark list of previous term/semester before availing next installment ;
iii) Student / Parent to provide latest mailing address, in case of any change ;

iv) Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.,


 For more Details  :       www.bankofindia.com

Bank of Baroda Loan for Laptop & Personal Computer

The number of businesses and homes depending on computers for a more efficient and systematic, day to day management of activities is on the rise. Whether it helps your kid's education or augments your business activities, or provides as a source of information and entertainment at home, computers have proved to be indispensable.
Although computers are getting cheaper by the year, they still come with a considerably high price tag. Bank of Baroda's Loan for Laptop & Personal Computer enable you to finance your dream PC / LAPTOP and also provide for the purchase of legal software

Key Benefits
Provides adequate finance to purchase a branded PC / Laptop of your choice.
Finance available for hardware (up to Rs. 1 Lakh) as well as software (up to 20,000/-).

Terms & Conditions
All resident Indians, salaried, professional, self-employed, businessmen or farmers can apply for this loan.
The loan amount can be repaid in maximum 60 months (for hardware) and a maximum of 24 months if a loan taken for purchases of software.
Margin:25%.


Security
The computer purchased out of loan is to be hypothecated to the Bank.
Third party guarantee, if loan exceeds Rs. 50000.
The hardware to be purchased must be of a reputed brand.

 For more Details  :       www.bankofbaroda.com

Bank of Baroda - Baroda Scholar Educational Loan

Bank of Baroda - Baroda Scholar
Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies. The loan offering is designed to empower you with the financial capability to realise your dreams... Achieve your goals... Reach out to the maximum limits...
Terms & Conditions
Eligiblity of Courses :
Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities overseas.
Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc. The Institute should be recognized by the competent local aviation / shipping authority and Director General of Civil Aviation/shipping in India.
Student Eligiblity :
Should be an Indian National.
Secured admission to Professional/Technical Courses at foriegn Universities/Institutions.
Coverage of expenses (for overseas studies) :
Admission/Tuition fees to College/University.
Hostel/Mess charges.
Examination/Library/Laboratory fee.
Purchase of books/equipments/instruments.
Caution deposit/building fund/refundable deposit supported by institution bills/reciepts.
One way travel expenses/Passage money.
Purchase of computers if essential for completion of the course.
Any other expense required to complete the course e.g. study tour, project work, thesis etc.
Maximum amount of loan : Rs. 20.00 Lacs.
Margin : 15%
Repayment Period :
Repayment Holiday/Moratorium Period :
Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is repayable in 5-7 years after the above period.

Security :
Upto Rs.4.00/- lacs : No security
Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third party guarantee alognwith assignment of future income.
Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan amount along with assignment of future income


Rate of Interest :
Simple interest during repayment holiday/moratorium period.
1% interest concession, if interest debited during the repayment holiday is serviced.
1% Concession in rate of interest to loans for girl student.
Penal interest @ 2% p.a. on overdue amount if loan exceeds Rs.4/- lacs.

 For more Details  :       www.bankofbaroda.com

Bank of Baroda - Baroda Vidya Education Loan Scheme

Bank of Baroda presents a one of its kind finance option for parents of students pursuing school education. These loans are available for studies from Nursery to Senior Secondary School.
No processing & documentation charges.
No Margin.
No security required.
Terms & Conditions
Eligibility :
Should be an Indian national residing in India.
Student should have secured admission to a recognized school / Highschool / Jr. College (including CBSE / ICSE / State Board) for any of the following courses
Stage I : Nursery to V th STD.
Stage II : VI th to VIII STD.
Stage III : IX th to XII th STD.

Coverage of expenses for :
Fee payable to college / school.
Examination / Library / Laboratory Fee.
Fee and other charges payable to hostel.
Purchase of books / equipments / instruments / uniforms.
Personal Computers / Laptops wherever required.
Caution deposit / building fund / refundable deposit supported by instituion bills / receipts.
Maximum Loan Amount : Rs.4.00 Lacs
Repayment Period :
Loan for each yearly sub limit is repayable in 12 equal monthly instalments. First instalment to be due 12 months after first disbursement of each year's loan component.
The parents must be residing in the place for a minimum period of -3- years, except in the case of transferable job.
Security :
In case the loan is given for purchase of computer the same is to be hypothecated to the bank.
Rate of Interest :  

1% concession in rate of interest to loans for girl students.
Interest to be serviced as and when applied during moratorium period.
Penal Interest @ 2% on overdue amount if the loan amount exceeds Rs. 2/- lacs.

 For more Details  :       www.bankofbaroda.com

Catholic Syrian Bank Education Loan

Provides financial assistance to deserving students to pursue higher/professional/technical education in India and abroad. 
Eligibility 

 For School Education including Plus Two, Graduation Courses, Post -Graduation Courses etc 

For Courses of study abroad, the student should be an Indian National who has secured admission to professional courses through Test/selection process , to foreign University institutions. 

Purpose 

To meet the tuition and other fees, cost of Books, Computers, refundable deposits supported by Bills/Receipts, travel expenses for studies abroad etc. 
Quantum of Finance 

 Studies in India - Rs. 7.50 lakhs 
Studies Abroad - Rs. 15 lakhs 
Rate of Interest 

Upto Rs.4 lakhs  12.00% p.a. 
Above Rs.4 lakhs  12.50% p.a. 
Security 

Upto Rs. 4 lakhs -Nil 
Above Rs. 4 lakhs -Collateral security of value twice the loan amount. 
Margin

Upto Rs. 4 lakhs - Nil 
Above Rs. 4 lakhs - Study in India-5%, Study abroad-15% 

Repayment 

To commence after one year of completion of the course or 6months after getting the job, whichever is earlier. Repayment in 5 to 7 years. 

Guarantee 

Personal Guarantee of parents. 

Attractive features 

No Processing Fee. 1% rebate on interest during holiday period, if interest is remitted promptly during the period. 

 For more Details  :       www.csb.co.in

Central Bank of India Education Loan

CENT Vidyarthi

Your application form to a world of education

Objective

  The scheme aims at providing financial assistance on reasonable terms :
To the poor and needy to undertake basic education.
To the student/employed persons to pursue higher education
Eligibility

  Studies in India :

School education including plus 2 stages.
Graduation courses - B.A., B.Com., B.Sc. etc
Post Graduation courses - Masters & Ph.D.
Professional courses - Engineering, Medical, Agriculture, Veterinary, Law,
Dental, Management, Computer etc.
Computer Certificate course of reputed institutions accredited to
Department of Electronics or Institutions affiliated to University.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Courses offered in India by reputed Foreign Universities.
Evening courses of approved institutions.
Other courses leading to Diploma/Degree etc. conducted by Colleges/Universities approved by UGC/Govt./AICTE/ICMR etc.
Courses offered by National Institutes and other reputed private institutions. Any other institution courses depending on future prospects/recognition by user institutions deemed proper by the Bank.
 
  Studies Abroad :

Graduation : For job oriented professional/technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS. etc.
Courses conducted by Chartered Institute of Management Accountants (CIMA) - London, Chartered Public Accountant (CPA) - USA etc.
Students Eligibility

  Should be an Indian National.
 
  Student should be in the age group of 16 to 40 yrs
 
  Secured admission to Professional/Technical courses through Entrance Test/Selection Process.
 
  Secured admission to Foreign University/Institutions.
Expenses Considered for Loan

  Fee payable to College/School/Hostel.
 
  Examination/Library/Laboratory fee.
 
  Purchase of books/equipments/instruments/uniforms .
 
  Caution deposit/building fund/ refundable deposit.
 
  Travel expenses/passage money for studies abroad.
 
  Purchase of computers - essential for completion of the course.
 
  Any other expenses required to complete the course - like study tours, project work thesis etc.
 
  To meet insurance premium for the policy on the life of the student.
 
  Reimbursement of these expenses already incurred/loan taken from identified sources (to meet the contingencies) by the applicant on merits is allowed, subject to production of original receipts within one month if applicant has secured admission in India and within six weeks if the applicant is going abroad.
Quantum of Finance

  Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings:
Studies in India - Maximum Rs. 7.50 lacs
Studies Abroad - Maximum Rs. 15.00 lacs
Margin

  Upto Rs. 4 lacs - No margin
 
  Above Rs. 4 Lakhs In India 5%
 
  Abroad 15%

Security

  Upto Rs.4 Lakhs: No security .Only to take co-obligation of either or both parents/guardian
 
  Above Rs.4 Lakhs and upto Rs 7.50 Lakhs: Collateral in the form of satisfacfactory third party guarantee
 
  Above Rs.7.50 Lakhs: Collateral security of suitable value or co-obligation of parents/ guardians/ third party along with the assignment of future income of the student for payment of installments

ForInterest Rates
Online Application Of Education Loan


 For more Details  :       www.centralbankofindia.co.in

Central Bank of India Computer Loan

CENT Computer Loan

A Scheme For Purchase Of Computer
Buying a PC made easy

Purpose

  Purchase of Personal Computer and Laptops along with accessories.

Eligibility

  All individuals including students, professionals and permanent salaried persons.

Quantum of Loan

  75% of cost, subject to maximum Rs.1,00,000/- repayable in maximum 36 months.

Rate of Interest

  Click here to view Interest Rates

Security

  Primary: Hypothecation of Personal computer / Laptops and accessories. Collateral: Any of the following securities having market / accrued / surrender value not less than 50% of loan amount:
EM of properties;
Lien on FDRs, KVPs
NSCs, Assignment of LIC policies.

Processing Charges

  Rs.500/- per proposal to be recovered immediately on sanction

Sanctioning Authority

  All delegatees under their delegated powers

Other terms and conditions

  Computer / Laptop and accessories will be comprehensively insured with Bank clause through Bancassurance.


In case of students, Father / guardian of the student will be principal borrower. In case student is major he will be taken as co-borrower.
Father / guardian / borrower should have known source of income to repay the installments.

In case of salaried persons the take home pay should not be less than 50% after taking in to consideration present loan installment.
Income of professional should be ascertained from last two years IT Returns.


For more Details  :       www.centralbankofindia.co.in

Development Credit Bank Limited Education Loan

PURPOSE 

Personal Loans for any declared legal use which may include;

- Purchase of assets & consumer durable

- Home Improvement

- Tax saving investments

- Higher Education

- Holidays’ Travel

- Emergency Medical Needs

- Investment in Primary/secondary market

- Loan takeover from other financiers/balance transfer for cards 
LOAN TYPE 

Amortizing Term Loans: Equal installments

AMOUNT
Min/Max Amount per Borrower 
a) Salaried Individuals
Rs. 25,000- Rs. 1,000,000 (Cat A Companies)
Rs. 25,000- Rs. 500,000 ( Cat B Companies)
Rs. 25,000- Rs. 200,000 ( Cat C Companies)
b) Self Employed Business - Rs. 25,000- Rs.500,000
c) Self Employed Professionals
Rs. 25,000- Rs.1,000,000 (Doctors/Dentists)
Rs. 25,000- Rs. 5,00,000 (Other Professionals)
c) Loyalty - Rs. 25,000- Rs.300,000
d) Balance Transfer Program (Credit cards) - Rs.25,000- Rs.200,000
e) Surrogate Programs - Rs. 25,000- Rs. 500,000

Tenor 

Term Loans : 1 year to 5 years
Interest Rate 

Fixed
Applicant Categories 

- Salaried Individuals 

- Self Employed Professional Individuals 

- Self Employed Business Individuals
CO- BORROWER REQUIREMENTS 

( applicable for salaried borrowers under verified income program where income requirement is not met on individual basis) 

Eligibility : Salaried Applicants
Relationship : Spouse only
Employer : All Public Ltd. Cos, MNCs, Govt. organizations, schools, College, Hospitals, Approved Employers
Age: 21 to 58 yrs (Max at loan maturity
Income: Min. Rs 60,000 (verification as per product norms)

MODE OF REPAYMENT 

- Post Dated cheques (PDCs) for installment repayments

- Standing Instructions (SI), if customer has an account with DCB 

-ECS   

 For more Details  :       www.dcbl.com

Dena Bank Education Loan

Dena Vidya Laxmi Educational Loan Scheme

Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.

You are eligible if:
You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.
Simply walk in with the marksheet of the qualifying exam. and proof of admission.

Course Eligibility

Study in India:
Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.

Study Abroad:
Graduation for professional/ technical courses offered by reputed universities; Post Graduation (MCA, MBA, MS)

Loan Amount
Upto Rs.10 lakhs for studies in India.
Upto- Rs. 20 lakhs for studies abroad.

Loan takes care of :

Fee payable to colleges/ schools/ hostels

Examination/ Library/ Laboratory fees.

Purchase of books, equipment, instruments and uniforms.

Passage fare for travel abroad.

Purchase of computers needed to complete the course.

Any other expense to complete the course like study tours, project work, thesis etc.

 Margin  
Upto Rs. 4 lakhs- NIL for study in India and abroad.
Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.
 Rate of Interest
Please Check out the Interest Rates Section to find latest Interest Rates applicable

Process Fees   : NIL 

 Repayment
Moratorium- Course period + 1 year or 6 months after getting a job, whichever is earlier.
Repayment period- 5-7 years after start of repayment.
Download Application Form
For any query,
Please contact : Email: rbd@denabank.co.in
 
 For more Details  :       www.denabank.com

Federal Bank - Vidya Education Loan

Vidya Loan

Purpose

Higher Studies in India & Abroad
Eligibility

Students of Indian Nationality

Residents & Non-Residents
Loan Amount

Up to Rs. 25 Lakhs
Period

Maximum 11 years
Interest

Up to Rs.4 Lakhs – 11.50%

Above Rs.4 Lakhs – 14%

Security

Co-obligant/Collateral Security

 For more Details  :       www.federalbank.co.in

Federal Bank - Special Vidya Education Loan

Special Vidya Loan

Purpose:

The prime object is to provide every meritorious student though poor with an opportunity to pursue higher studies in India & Abroad with the financial support from the banking system with affordable terms and conditions.

Eligibility:

Should be an Indian National

Secured admission to professional/technical courses through Entrance test/ Merit based selection process

Secured admission to foreign university / institutions (for studies abroad)
Course & Institution should have necessary approval/recognition


Loan Amount:
Studies in India - Up to 7.5 Lakh
Studies Abroad - Up to 15 Lakhs

Loan Period
Course period + 5 - 7 years

Mode of Repayment:
Repayable in equal monthly installments in 5 to 7 years after moratorium period
No repayment during moratorium period


Interest rate

Click here for rate of interest


 For more Details  :       www.federalbank.co.in

HDFC Bank Education Loan

Features & Benefits

 Loans upto Rs.10 Lakhs for Education in India and upto Rs.20 Lakhs for Education abroad

 Attractive interest rates.

 Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)

 Loan available upto tenure of 7 years including moratorium period.

 Tax Benefits availaible under Section 80E of the IT Act

 Hassle free loans and speedy approvals.

 Convenience of service at your doorstep.

 Loans available for other course related expenses also!


Special privileges

 Loans disbursed directly to the educational institution.

 Loan to be released as per fee schedules of institutes.

 Exclusive Telegraphic Transfer facility availaible for courses abroad.

 Loans available for short duration/ job oriented courses also.


Eligibility

 You need to be an Indian National.

 You should be aged between 16 - 35 yrs.

 Collateral is required for all loans greater than Rs. 7.5 Lakhs.

 All Loans require a co-applicant. For co-applicant eligibility - check here

 For complete details on eligible courses and other details, check our FAQs section

 For complete documentation click here


Which courses can I take an Education Loan for ?

Management Courses ( Full-Time + Part Time ) - PostGraduation

Engineering Courses ( Government + Private ) - Graduation

Medicine - Graducation + Post Graducation

Masters in Computer Application ( MCA/MCM) - Post Graduation

Commercial Pilot License courses from Flying Schools approved by DGCA in India or an Equivalent approving body abroad.

Online / Distance Learning courses.

Wherever it is a private institution,the same has to be recongized by the relevant/competent government body.

Fine Arts and Designing - Graduation + Post Graduation

Architecture - Graduation

Hotel and Hospitality - Graduation + Post Graduation

Agriculture - Post Graduation

Pure Science - Graduation + Post Graduation

B.A./B.Com/M.A./M.Com

Courses such as SAP , ERP , GNIIT , Air Hostess Training programmes etc.

Besides the above mentioned ,other Institute to be rated on the basis of their listing with the AICTE etc.

Any other document / information as needed by Bank, depending upon the case and purpose of loan.


Do I have to pay part of the fees ?

100% loan is available for select courses. Margin ranges from 5-15 % for courses in India & Abroad .Please contact your nearest branch for further details.
Is there moratorium/repayment holiday available ?

Yes. A moratorium/repayment holiday is available for select courses. Please contact your nearest branch for further details.
What is the moratorium period ?

Repayment holiday/ moratorium would be for the course period + 1 year or 6 months after the student gets a job/start earning whichever is earlier.
Is there any kind of repayment that has to be made in the moratorium period ?

Interest would have to be paid during the moratorium, the interest servicing would be of simple interest calculated on the loan amount disbursed payable monthly.
What would be the mode of repayment ?

Customer has the option of paying through Standing instructions/ ECS/Post dated cheques.


What would be the tenure of the loan ?

Maximum tenure of the loan can be 7 years including moratarium period.
Is there a need of a co-applicant ?

Yes, a co-applicant is required for all Full-Time courses . The co-applicant can be your parents, siblings, spouse or Family Relative . Loan eligiblity would be calculated on the basis of the co-applicant's income. In case of Part Time courses , No Co-applicant required . However in order to increase the eligibility a co-applicant may be added .


Which document have to be furnished to avail the loan ?

Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
Completely filled Application Form with Photographs.
Letter of admission from the Institute
Letter from the Institute stating cost break up of the program (term-wise, year-wise)
Marksheets from SSC onwards till the latest examination passed
KYC Documents for the Applicant & Co-applicant (Residence Proof , ID Proof , Signature Verfication Proof , Age proof )
Income Documents of the Co-applicant ( Pay Slips / ITR copy etc )
Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
For studies abroad - In addition to the above list of documents – Pls Provide :
Letter from the Head Of Department ( University)
Visa approval papers
Travel papers
GMAT/GRE/SAT score
I-20 in case of applicant going to the USA


What is the quantum of the loan ?

For loans with Moratorium :
Studying in India - Max Rs. 10 Lakhs
Studying abroad - Max Rs. 20 Lakhs
For Loans without Moratorium :
Studying in India - Max Rs. 7.50 Lakhs
Studying abroad - Max Rs. 10 Lakhs


Would the loan be disbursed in favour of the Institute ?

Yes. Tution & hostel fee will be disbursed directly to the educational Institute as per the schedule of fee given by the Institute/college ( semester - wise/yearly).


Which expenses does the loan cover ?

Fee Payable to College/School/Hostel
Exam/Library/Lab fees

Caution deposit / Refundable deposit asked by the institution/Building fund - supported by Institution bills/receipts

Purchase of Books/equipments/instrument/uniforms
Travel expenses/passage money for studies abroad
Purchase of computers - essential for completion of the course

Any other expense required to complete the course - like study tours, project work, thesis, etc.


 For more Details  :       www.hdfcbank.com

IDBI Bank Education Loan

Education loans from IDBI aim at providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad. With an array of courses to choose from and easy repayment options, IDBI makes sure you get complete financial backing.

Courses offered 
An installment based loan for all courses mentioned below: 

Studies in India: 

Graduation courses : BA, B.Com., B.Sc., etc

Post Graduation courses : Masters & Phd

Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university

Courses like ICWA, CA, CFA etc

Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc

Courses offered in India by reputed foreign universities

Evening courses of approved institutes

Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc

Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

Studies abroad:

Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.

Special Courses

Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority .

Loan Amount 
 Maximum loan amount :

Study in India-Rs.10 lakhs 

Study Abroad -Rs.20 lakhs 
Loan Margin: 

Studies in India - upto Rs. 4 lac- Nil 

above Rs. 4 lac- 5% of the total course expenses

Studies abroad - 15% of the total course expenses

Expenses Covered under Loan
Fee payable to college/ school/ hostel

Examination/ Library/ Laboratory fee

Purchase of books/ equipments/ instruments/ uniforms

Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts

Travel expenses/ passage money for studies abroad

Purchase of computers - essential for completion of the course

Any other expense required to complete the course - like study tours, project work, thesis, etc.`
Insurance premium for student borrower

Repayment terms 
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.

Rate Of Interest

Upto Rs 4 lacs : BPLR – 1% p.a (12.25%)
Above Rs 4 lacs : BPLR p.a. (13.25%)
Simple interest to be charged during repayment holiday and moratorium 

Accrued interest during the repayment holiday period should be added to the EMIs.

Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate. 

50 basis points reduction for girl applicants 

50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner) 

Repayment holiday / moratorium :

Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier .

The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.



 For more Details  :       www.idbibank.com