Scope
The scheme extends a helping hand to meritorious students desirous of pursuing higher study either in India or abroad. Eligibility
Studies in India
Approved courses leading to graduate/post graduate (Masters & PhD. degree and PG Diplomas conducted by recognized colleges/universities, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.).

Computer Certificate courses of reputed institutes accredited to DoE.

Courses like ICWA, CA, CFA, etc.

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

Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA - London, CPA in U.S.A., etc.

Age limit
For Graduation:
28 years for general candidates
30 years for SC/ST candidates

For Post Graduation:
30 years for general candidates
33 years for SC/ST candidates

The main conditions for eligibility include

• Student must be an Indian National
• Secured admission to a higher education course in India or entrance test or selection process after completion of HSC (10 plus 2 or equivalent),

Quantum of loan
Studies in India : Maximum Rs. 10.00 Lac
Studies Abroad : Maximum Rs. 20.00 Lac

Security
Upto Rs. 4.00 lacs & No security, co-obligation of parents
Above Rs. 4.00 lacs & upto Rs. 7.50 lacs: Co-obligation of parents, collateral in the form of a suitable 3rd party guarantee
Above Rs. 7.50 lacs : Co-obligation of parents, tangible collateral security equivalent to full value of loan

Margin
Upto Rs. 4 Lac - Nil
Above Rs. 4 Lac Studies in India - 5%
Studies Abroad - 15%

Processing Charge
There are no processing charges

Disbursement
Disbursement in stages as per the requirement directly to institutions.

• Upto Rs 7.50 lacs :- Base rate + 2.50%
• Above Rs.7.50 lacs :- Base Rate + 2.25%

Repayment Period

• Upto Rs 7.50 lacs :- Upto 10 years
• Above Rs.7.50 lacs :- Upto 15 years

Repayment Holiday
Course period+ 1year or 6 months after getting job whichever is earlier.

1% interest concession is available during moratorium period, if interest is serviced regularly during the moratorium period.

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.