Eligibility Criteria:

(a) Student eligibility:

Student be an Indian National 
Secured admission to professional/ technical courses in India or Abroad through Entrance Test / Merit based Selection process. 
(b) Courses Eligible:

Studies in India

• Graduation Courses- B.A, B.COM, B.Sc. etc.
• Post Graduation Courses: Masters Courses, Ph D, etc.
• Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computeretc.
• Computer Certificate Courses of reputed Institutes accredited to Department of Electronics or Institutes affiliated to University.
• Courses like- ICWA, CA, CFA etc.
• Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
• Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/ Shipping, if the course pursued abroad, the Institute should be recognized by the competent local aviation/ shipping authority.
• Courses offered in India by reputed foreign universities.
• Evening Courses of approved Institutes.
• Other Courses leading to diploma/degree etc conducted by the Colleges/ Universities approved by UGC/Govt/AICTE/AIBMS/ICMR etc.

Studies Abroad:

• Graduation: For Job oriented professional/technical courses offered by reputed Universities.
• Post Graduation: MCA, MBA, MS etc.
• Courses conducted by CIMA London, CPA in USA etc.
• Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute should be recognised by the competent local aviation/ shipping authority.

Quantum of Loan:

Need based finance subject to repaying capacity of the parents / students with following ceilings:
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.

Expenses Considered for Loan

• Fee payable to College / School /Hostel
• Examination/Library/Laboratory Fee
• Purchase of Books / Equipments/ Instruments/ Uniforms.
• Caution Deposit/ Building Fund/ Refundable Deposit supported by Bills/Receipts of the Institution, subject to the conditions that amount does not exceed 10% of the total tuition fees for the entire course.
• Travel Expenses/Passage Money for studies abroad.
• Purchase of Computers essential for completion of the course.
• Insurance premium for student borrower.
• Any other expenses required to complete the course, such as- Study Tours, Project Work, and Thesis etc.

Margin

For loan up to Rs 4.00 lacs: NIL 
For loan above Rs 4.00 lacs: 
(i) Studies in India: 5%
(ii) Studies abroad: 15% 
Scholarship / Assistantship to be included in Margin. 
Margin Money to be brought on year-to-year basis and disbursements are made on a pro-rata basis. 
Rate of Interest:
Loan Upto Rs. 4.00 lacs 
For students of IIT / IIM/ ISB*
PLR-1.75% 
For Others
PLR-0.75%

Loan above Rs. 4.00 lacs 
For students of IIT / IIM/ ISB*
PLR-1.75% 
For Others PLR-1.00%

*ISB means Indian School of Business, Hyderabad
Girl students may be provided a special relief of 1.00% in all cases as above.

Application of Interest:

Simple interest during moratorium period. 
Service interest during moratorium period regularly and avail a special discount of 1.00% in interest rate.

Repayment:

Repayment Holiday / Moratorium is Course Period + 1 year  or 6 months after getting job, whichever is earlier.

Loan to be repaid within a maximum period of 7 years after commencement of repayment.

Security:

For IIT/IIM/ISB* 
For loan upto Rs 10.00 lacs- No collateral security is required. co-obligation* of parents/ guardian required 
*ISB means Indian School Business, Hyderabad
For others

For loan upto Rs 4.00 lacs: No collateral security is required. co-obligation* required For loan above Rs 4.00 lacs and upto Rs 7.50 lacs: Satisfactory third party guarantee & Co-obligation* required.

For loan above Rs 7.50 lacs: (a) Co-obligation * of parents/ guardian together with tangible collateral security of suitable value covering full loan amount, alongwith the assignment of future income of the student for payment of installments.

*(The loan documents would be executed by both the student and the parent/ guardian as joint-borrower i.e. co-obligator. The co-obligation should be parent / guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law.)

Processing Fee:

Processing Fees/ Documentation Charge:

For studies in India- Nil
For studies abroad -Rs.500/- upfront subject to the conditions that this amount would be adjusted against the loan amount once the loan is availed from us.

Mortgage Charges:

Actual expenses, if any, will be borne by the Student/Parent or Guardian.

Delivery Channel

From all of our branches (Presently more than 2150) spread throughout the country.
On-line sanction for leading 250 institutions within 72 hours.

Value added Service

FREE Debit Card
-For SB account holders in networked branches.

Insurance:

Others