Education Loan Scheme – Personal Banking

10/07/2020

Education Loan Scheme Brand New

Education Loan

A phrase loan awarded to Indian Nationals for pursuing degree in Asia or abroad where admission is secured.

  • Repayment period of upto 15 years after Course Period + 12 months of payment holiday*
  • Processing Fees
    • Loans upto Rs. 20 lacs: NIL
    • Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
  • Protection
    • Upto Rs. 7.5 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or alternative party guarantee
    • Above Rs. 7.5 Lacs: Parent/ Guardian as co-borrower and collateral security that is tangible
  • Margin
    • Up to Rs 4 Lacs – Nil
    • Above Rs 4 Lacs – 5% for studies in Asia, 15% for studies in abroad
  • Repayment will commence one after completion of course year.
  • Loan to be repa

    Eligibility

    • A term loan issued to Indian Nationals for pursuing advanced schooling in Asia or abroad where admission was guaranteed.

    Courses Covered

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    Studies in India
    • Graduation, Post-graduation including regular professional and technical Degree/Diploma courses carried out by colleges/universities authorized by UGC/ AICTE/IMC/Govt. Etc Regular Degree/ Diploma Courses carried out by autonomous organizations like IIT, IIM etc
    • Instructor training/ Nursing courses authorized by Central federal federal federal government or the local government
    • Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. Authorized by Director General of Civil Aviation/Shipping/ concerned authority b that is regulatory. Studies abroad:
    • Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc provided by respected universities Courses carried out by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in United States Of America etc.

    Studies abroad

    • Job oriented professional/ technical Graduation Degree courses/ Post Graduation Degree and Diploma courses like MCA, MBA, MS, etc provided by respected universities.
    • Courses carried out by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in United States Of America etc.

    Expenses Covered

    • Charges payable to college/school/hostel
    • Examination/Library/Laboratory charges
    • Buy of Books/Equipment/Instruments/Uniforms, Buy of computer systems- needed for conclusion associated with program (maximum 20% for the total tuition costs payable for conclusion of this program).
    • Care Deposit/Building Fund/Refundable Deposit (optimum 10% of tuition costs for your program).
    • Travel Expenses/Passage cash for studies abroad.
    • Price of a Two-wheeler upto Rs. 50,000/-
    • Just about any expenses necessary to finish the program like research tours, task work etc.

    Loan Amount

    • For studies in Asia – Maximum Rs 10 lacs
    • Studies abroad – Maximum Rs 20 lacs
    • Greater loan restriction for studies in Asia are cons Greater loan restriction for studies in abroad are cons

      Checklist of documents to duly be submitted along-with filled Loan application

      Student-applicant
      • Proof Note: All papers should really be self-attested. # Terms and conditions use.
      Rates Of Interest

      Loan quantity as much as Rs. 3 lakhs

      Rs. 3 lakhs & as much as Rs. 5 lakhs

      Begin With

      Above Rs. 1 lakh

      Upto Rs.7.50 lakh

      Above Rs.7.50 lakh

      (On Using through YONO)

      1 to less than 2 12 months year

      A couple of years to not as much as three years

      Fast Hyper Links

      Education Loan Residence

      SBI Education Loan Scheme

      Loan for Premier Institutes (IITs, IIMs, NITs etc. )

      Studies abroad (above Rs. 20 lakhs)

      Ability Loan (Max. Rs. 1.5 lakhs)

      Takeover Of Education Loans

      Dr. Ambedkar Interest Subsidy Scheme for Overseas Studies.

      Padho Pardesh Interest Subsidy Scheme for Overseas Studies for the.

      INTEREST SUBSIDY SCHEME

      Education Loan MITC

      • Features
      • Eligibility
      • Stipulations
      Rates Of Interest

      Loan quantity as much as Rs. 3 lakhs

      Rs. 3 lakhs & as much as Rs. 5 lakhs

      Begin With

      Above Rs. 1 lakh

      Upto Rs.7.50 lakh

      Above Rs.7.50 lakh

      (On Using through YONO)

      1 12 months to not as much as 2 year

      A couple of years to significantly less than three years

      ESSENTIAL: State Bank of Asia never ask for the user id / password / pin no. Through phone call / SMSes / e-mails. Any such phone call / SMSes / e-mails asking one to reveal credential or One Time Password through SMS could possibly be try to withdraw funds from your own account. NEVER share this info to anybody. State Bank of Asia desires one to be safe. In the event that you run into such instances be sure to notify us through email to your after target-

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