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Purpose
-For pursuing studies in recognised schools/colleges/institutions to meet:
-Tuition and other fees
-Maintenance costs, books and equipment
-Cost of passage (for studies abroad)
Eligibility
-For School/College education in India
-Minimum second division (pass marks for SC/ST)
-Parents/guardians (including persons engaged in agriculture/allied activities having independent regular source of income)
Loan Amount
(i) School/College Education in India: Upto 6 times the monthly net (take home) income of the parents/guardian.
Minimum loan: Rs.4000
Maximum loan: Rs1 lakh
(ii) Technical/Professional higher studies in India and Abroad: 90% of the cost of study, subject to maximum of Rs.8 lakh Margin
10% Interest Rate
At competitive rates on reducing balance only. Please check for latest rates at your nearest branch. Interest is compounded on a quarterly basis Period of Loan
(i)For School/College Education in India: Loans to be repaid in a period of 36 months, commencing immediately after disbursal, by the parents/guardian
(ii)For Technical/Professional higher studies in India and Abroad: The loan is to be repaid is 60 months after the completion of the course or securing job, whichever is earlier. Regular periodic repayment as much as possible should be made during the period of study. Quarterly interest should be paid regularly
(iii) Permitted without any penalty For updated information please visit State Bank of Hyderabad |
