Education Abroad

Purpose

• Job oriented Professional/Technical courses offered by reputed Universities.
• Other higher Education Courses.

Beneficiaries
Indian National secured admission to the Course.

Loan Amount
For studies Abroad - Rs. 20 lakhs. (Maximum)

Quantum of Finance

• Initial expenses like Admission Fee, entrance fee, caution Deposit, Security Deposit, Building Fund, Refundable Deposits, Study Equipments, expenses like tuition fee, Exam. Fee, special fee, hostel and mess fee, cost of books, Uniform, study tour expenses for entire duration of the course, project work, cost of Air Ticket for studies Abroad.
• Wherever receipts are received, Deposits/Donations etc. paid to reputed institutions, trusts can be considered.

Margin
15% including share to be taken.

Type of Loan
Term Loan

Mode of Repayment

• The loan repayment should begin within one year after completion of study course or within 6 months when the student secures employment.
• Periodical interest to be collected on a half yearly basis.
• Principal at the end of the course in equal monthly/ Quarterly/ Half yearly/ Yearly instalments.
• Maximum loan period - 10 years (Course time plus repayment period)
• Minimum 5 years (Course time plus repayment)

Security
In all cases landed property valuing 150% of the loan amount.

Co-obligancy
Parent/Guardian is mandatory in all cases. Guardian can be father, mother, brother or sister.

Documents to be Produced

• Apart from documents related to security property as required in normal cases, the following documents are required.
• Admission letter.
• Certificate of last qualifying Examination.
• Testimonials of the student from teacher/ Professor.

Rate of Interest
Loan Amount    Up To    -    20,00,000    ::    11.50     %