To provide hassle free education loan to meritorious students who are pursuing their higher studies in select institutions viz., Selected IIMs/IITs/NITs/IISc /ISB (Hyderabad & Mohali) and other reputed institutesĬategory A Institute: Students of ISB, Hyderabad & Mohali Limit up to Rs 50.00 lacs.Ĭategory B institute Students of IIMs. VIDYA TURANT – EDUCATION LOAN SCHEME GUIDELINES Loan amount above Rs 100000: up to 7 yearsĤ. Loan amount above Rs 50000 and up to Rs 100000: up to 5years Loan amount up to Rs 50000: up to 3 years If course duration is above 1 year: Moratorium is 12 months from the date of completion of course. If Course duration up to 1 year: Moratorium is 6 months from the date of completion of course. No collateral or third party guarantee is required The loan will be covered under the Credit Guarantee Fund scheme for Skill Development (CGFSSD) Loan is granted jointly with the parent/Guardian of the student. Need based Finance in the range of Rs.5000 to Rs.1,50,000/-Īssignment of future income of the student Skill Loan Scheme has been developed to support the national initiatives for skill development.Ĭourses run by Training Institutes aligned to National Skill Qualification Framework (NSQF) shall be covered by the Skill Loan. Tangible Collateral security to cover at least 100% of the loan amountģ.
Tangible Collateral security to cover at least 100% of the loan amount.Loan is granted jointly with the parent/Guardians of the student.No collateral Security, loan will be covered under Credit Guarantee Fund Scheme for Education loans(CGFSEL) scheme subject to the conditions.Students may submit their loan applications either at the bank branches near to the residence of parents or bank branches near to the educational institution where they are studying.Ībove Rs.4.00 Lakhs - Studies in India - 5%Īssignment of future income of the student Merit Quota: Any courses leading to degree/diploma from reputed Institutes/Colleges/Universities for studies in India.Ĭourse which lead to undergraduate, Post Graduation/PHD, Post Graduate Diploma etc are eligible. Graduation, post graduation, including technical/professional courses from reputed colleges/universities approved by UGC/Government, AICTE/Department of Electronics/IMC, autonomous institutions like IIM, IIT, etc. NRIs student holding valid Indian passport.Any other expenses required to complete the course subject to ceiling. Travel expenses / passage money for studies abroad. Payment of Course fee, Hostel/Boarding/Examination/Library& Laboratory fee and for Purchase of books, equipments, instruments, uniforms, computers if it is essential for completion of the course, Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. IBA MODEL EDUCATION LOAN SCHEME FOR PURSUING HIGHER STUDIES IN INDIA AND ABROAD :
#Loan quantum calculator plus
Repayment of the loan will be in equated monthly Installments up to a maximum of 15 years excluding the moratorium period ( i.e., course period plus one year).Ģ. Loan granted jointly with parent/guardian and student.Assignment of future income of the student.Collateral security from Max 100% to Min 50%*.
#Loan quantum calculator pro
Margin may be brought in year on year basis as and when disbursements are made on a pro rata basis. Click Here for the List enclosed.ġ00% finance on Tuition fees, Living expenses, passage money, Master Degree under STEM (Science, Technical, Engineering and Management) courses.
EDUCATION LOAN SCHEME FOR PURSUING MASTER’S DEGREE IN ABROAD FROM SELECT TOP RANKING UNIVERSITIES OF WORLDĮducational loan scheme for abroad studies from select top ranking Universities.Ĭollateral Coverage Eligible loan quantum
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