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For Studies in India - Scheme Highlights Purpose
To meet the cost of education covering tuition fees, exam fees, development fees, hostel fees, books, instruments
Approved Courses
Computer Courses: Part-time/Full-time in Institutes approved by Government of India (Department of Electronics) Duration of the course
Minimum - 12 months
Maximum - 48 months
Amount of Loan
For computer courses: Rs.1.00 lakh
For other professional courses: Rs.3.50 lakh
Margin
Upto Rs.2.00 lakh: 10%
Upto Rs.3.50 lakh: 15%
Rate of Interest
Upto Rs.2.00 lakh: 12%
Between Rs.2.00 lakh to Rs.3.50 lakh: PLR +1% (i.e. 13.5%)
Period of Loan
Initial holiday period of 6 months after the completion of the course or immediately on getting a job, whichever is earlier
For limits upto Rs.1.00 lakh: 42 months
For limits upto Rs.3.40 lakh: 60 months
For Studies Abroad - Scheme Highlights
Course of Study
Any Graduate/Postgraduate courses with good employment prospects. The period of study should not exceed 5 years
Amount of Loan
Maximum Rs.10.00 lakh
Margin
Upto Rs.5.00 lakh: 15%
Above Rs.5.00 lakh: 25%
Rate of Interest
PLR + 1.5% (i.e. 14%) Period of Loan
Interest to be serviced every quarter. Repayment of principal to commence 6 months after the completion of the course or immediately on getting a job whichever is earlier. For limits upto Rs.10.00 lakh - Maximum 96 months For updated information please visit Indian Bank |
