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dhanalakshmi college of engineering vels university
Educational Loan
KVB has made it possible for you to pursue your educational dreams. Our loan has been specifically structured to provide you with financial help if you wish to pursue education of your choice, either in India and abroad.

Features
  • It is a term loan given for studies in India and abroad.
  • Students who are Indian nationals and have secured admission to professional/ technical courses in India through a common Entrance Test, or who have secured admission to a foreign University or Institution.
  • The Father or guardian of the student will be the guarantor in case of individual applicants.
Maximum Loan Amount
For studies in India - Rs.10.00 Lakhs.
For studies abroad - Rs.20.00 Lakhs

Margin
Up to Rs.4.00 Lakhs – Nil
Above Rs.4.00 Lakhs:
Studies in India - 5%
Studies in abroad - 15%

Repayment Tenor
In 5-7 years after repayment holiday (course period and 1 year or 6 months after getting job whichever is earlier)

Primary security DPN
(In case of loan is used for purchase of equipments/instruments, the same is to be hypothecated to us)

Collateral security
  • For loans up to Rs.4.00 Lakhs:
    Parents to join as Co Applicants & No security.
  • For loans above Rs.4.00 Lakhs and up to Rs.7.50 Lakhs:
    Parents to join as Co applicants together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional case, waive third party guarantee if satisfied with the Net Worth / Means of parent/s who would be executing the documents as "Joint Borrower"
  • Above Rs.7.50 Lakhs:
    Parents to join as Co applicants together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments. Students admitted under Management Quota are also eligible for Educational Loan. However other norms / guidelines with regard to eligibility criteria are to be complied as per State/Central government norms
Guarantee
Father/Guardian in case of Individual applicant

Processing charges
Nil

Disclaimer:
     Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.
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