Professional Documents
Culture Documents
Rs 20 lakh
i.
Margin
Nil
Guarantee
Borrower
(Optional).
Security
No collateral security.
Assignment of future income of the student.
Comprehensive Life Insurance Policy in the name of the student for at least the
loan amount and for a minimum period of loan term ( i.e. course period +
moratorium period + repayment period) assigned in favour of Bank.
Other concessions
Debit Card, Internet Banking facility and Any Where Banking facility may be
provided to the students on request at normal charges.
Special Incentive
Interest subsidy is available for the course period plus 12 months after completion
of the course or 6 months after securing a job whichever is earlier, to students with
a parental upper annual income limit of Rs.4.50 lakh for loans. Even loans in
excess of Rs.10 Lacs qualify for interest subsidy under Central Sector Interest
Subsidy Scheme of MoHRD for the portion of loan upto Rs.10 Lacs.
Repayment
Processing Charges
NIL
NIL
Rate of Interest
Base Rate %
(a)
Spread % (b)
10.25
+0.50
10.75
10.25
10.25
10.25
10.25
Sanctions
1.
2.
3.
4.
5.
6.
7.
On
Disbursement