Objective
To provide financial support to meritorious students for pursuing higher education in India.
Students Who Secure Admission In Institutes As Under Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/
AIBMS/ ICMR etc.
Purpose
Fee payable to college/ school/ hostel/ Examination/ Library/ Laboratory fee etc. Insurance premium for student borrower, if applicable. Caution deposit, Building fund/refundable deposit supported by Institution
bills/receipts. Purchase of books/ equipment's/ instruments/ uniforms/computer at reasonable cost, if required for completion of the course. Any other expense required to complete the course-like study tours,
project work, thesis, etc.
Eligibility
- Should be an Indian national.
- Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).
- Cases of Management Quota may be considered on merit basis.
- Courses Eligible (For Study in India):
- Courses like ICWA, CA, CFA etc.
- Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc.
- Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any
other regulatory body as the case may be.
- Advance Diploma in Banking Technology offered by DBGB IIT Lucknow.
- Approved courses offered in India by reputed foreign universities.
- Research Programme recognized by designated academic authority/ regulatory body.
Quantum Of Finance
Need based Finance subject to repaying capacity of the parents/students. Reimbursement of fees paid within six months may be permitted on individual merits of the case.
Margin
- Up to Rs. 4 lac: NIL
- Above Rs. 4 lac: 5%
- Scholarship/ assistantship may be considered in margin.
- Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Security
- Up to Rs. 7.50 lakh: Co-obligation of parents/guardian as joint co-borrowers. No tangible Security and /or 3rd party guarantee is required.
- Above Rs. 7.50 lakh: Co-obligation of parents/guardian as joint co-borrowers with Tangible collateral security of suitable value acceptable to bank.
Repayment Period
Maximum up to 15 years.
Repayment Holiday / Moratorium
Course period + 1 year.
Rate of Interest
Starts from 9.35%*
* Conditions Apply
