- The applicant should be an Indian National.
- Should have secured admission to professional/technical courses or other academic courses
a) For Studies in India
- School education including plus 2 stage/ Graduation/ Post graduation/ Diploma/ Computer education in any recognised State/ Central Government/ University.
- Computer certificate courses of reputed institutes accredited to The Department of Electronics.
b) Studies abroad:
- Job-oriented professional/technical courses offered by reputed universities.
- MCA, MBA, MS etc.
- Courses conducted by CIMA – London, CPA in USA etc.
Coverage of expenses
- Fee payable to College / School / Hostel
- Exam fees
- Purchase of books / Equipment’s
- Travel expenses / Passage money for studies abroad
- Purchase of computers essential for completion of the course etc.
- Studies in India - Upto Rs.10 lakhs
- Studies in Abroad - Upto- Rs. 20 lakhs
Higher quantum of loan also can be considered in deserving and meritorious cases.
- Upto Rs.4 lakhs - Nil
- Above Rs.4 lakhs
- Studies in India 5%
- Studies abroad 15%
Documents should be executed both by the student and parent / guardian as joint borrower.
- Upto Rs. 4 lacs - No security
- Above Rs. 4 lacs & Upto Rs.7.50 lacs - Collateral in the form of satisfactory third party guarantee
- Above Rs.7.50 lacs - Collateral security of suitable value OR co-obligation of parents / guardians / third party along wtih the assignment of future income of the student for payment of instalments.
|Rate of Interest
- Upto Rs.4.00 lakhs -12.50 % p.a.
- Above Rs.4.00 lakhs -13.00 % p.a.
Holiday Period- The course period PLUS 1 year or 6 months after getting a job, whichever is earlier.
Repayable in 5– 7 years.