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::: Indian Bank Educational Loan :::

Download Educational loan Application form
Indianbank.in
For Studies in India - Scheme Highlights

Purpose: To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.

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 Studies in India - Rs.7.50 lakhs

For Studies Abroad - Rs.15.00 lakhs

* Higher quantum of loan also can be considered in deserving and meritorious cases.

Margin:

Up to Rs.4.00 lakhs - NIL

Above Rs.4.00 lakhs

For Studies in India - 5%

For Studies Abroad - 15%

Rate of Interest :

Up to Rs. 4.00 lakhs -11% p. a. at present

Above Rs. 4.00 lakhs -11.50% p. a. at present

Interest Rebate

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 up to Rs. 1.00 lakh: 42 months

For limits up to Rs. 3.40 lakhs: 60 months

For Studies Abroad - Scheme Highlights

Course of Study:

Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years

Amount of Loan: Maximum - Rs.10.00 lakhs

Margin:

Up to Rs.5.00 lakhs: 15%Above Rs.5.00 lakhs: 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 up to Rs.10.00 lakhs - Maximum 96 months

Repayment

Repayable in 5– 7 years.


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