Education Loan

Purpose

Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. TO PROVIDE FINANCIAL ASSISTANCE TO INTELLIGENT STUDENTS, PROFESSIONAL COURSES INCLUDING HOSTEL ACCOMMODATION TO ACQUIRE TECHNICAL SKILL AND TRAINING IN ANY SPECIALISED discipline like medical,dental,engg., computer science and management etc.

Eligibility

• The student should be an Indian National.
• Should have secured admission to a higher education course in a recognized Institution in India or abroad.
• Loan facility available up to ₹50 lakh.
• No collateral security is required for loan amounts up to ₹5 lakh. For loan amounts exceeding ₹5 lakh, collateral security equivalent to the loan amount.
• Borrower / Partners / Directors / Guarantors must be a member of the Bank.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Enrolment /Offer letter with Prospectus of the College/ University.
• Receipts of the Payment made, if any.