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Education Loan
Fulfill your dream of higher education.
Features & Benefits
- No pre-payment charges for repayment through own source
- Attractive interest rate
- Simple documentation
- Easy repayment options - ECS / Post-dated cheque / Standing Instruction
- Speedy loan approval
- Offers Insurance cover of all assets at attractive premium
- Suitable moratorium for repayment
- Hassle free disbursement directly to Educational Institution
- Telegraphic transfer facility for educational courses abroad at nominal cost
- Covers all academic related expense
Purpose
- Higher study in India or Abroad
(Graduation, Post Graduation and Vocational Courses)
Eligibility
- Confirmed admission for the course in India or Abroad
Quantum of loan
- Secured
Loan quantum - Max Rs.1.50 Crore for higher studies in India & study Abroad - Unsecured
Maximum Rs.5.00 Lacs for studies in India only.
No tangible security.
50% of the loan amount should be covered by Life insurance of the applicant.
Rate of Interest
- 9 % p.a. for Female Student
- 9.25% p.a. for Male Student
Margin
- 10% Margin on course fees
OR
- 20% on Immovable Security
- 10% on Liquid Security
Whichever is lower
Documentation : Refer Basic Documents - Retail Loan
In addition to the basic documents
- Copy of Agreement or Allotment letter
- Undertaking stating source of own funds
- Proof of admission
- Estimate of course fee & other expense
- Fee receipt or proof of payment
- Copy of Passport & Visa
- Mark sheet & Certificate of educational qualification
Security
- Equitable / Registered Mortgage of Immovable Asset.
- Any liquid security by way of FDR/NSC/KVP etc .
Moratorium
- Duration of the course + 6 months
Repayment
- 7 Years + Moratorium Period. Interest will be served during Moratorium Period. Total repayment period including moratorium period not to exceed 12 years.
Conditions Apply
Disclaimer
ENROUTING TO A THIRD PARTY WEBSITE
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So it is pertinent to note that NKGSB Bank do not undertake the responsibility of any nature what so ever related to warranties, expressions, representations, in any form either express or implied, related to such third party links or web sites or any material or information contained therein.
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