Education Loan

“Unlock your potential with our education loans”

Features & Benefits

• Attractive interest rate
• Interest charged on daily reducing balance
• Simplified documentation
• Moratorium period of 12 months as per request

Purpose

Higher study in India or Overseas

(Graduation, Post Graduation Courses)

Quantum of Loan

• Limit upto 20,00,000/- (For Engineering)
• Limit upto 50,00,000/- (For Medical)

Rate of Interest

Starting at 9.25% pa

Tenure

72 months – 6 Years

Documentation

PART-A

1.Absolute Sale Deed

2.Possession Certificate/Release of Lease Agreement

3.Betterment Charges paid receipt

4.Latest Khatha Certificate and Khatha Extract

5.Upto date Tax paid receipt

6.Encumbarance for 13 years in Form No.15

7.Income Proof

8.Sanctioned Plan

9.Family Affidavit for loan repayment commitment

10.Residential Address Proof

11.Building Photo

12.IT Returns for last 3 years along with Balance Sheet and Profit and Loss Account Statement duly certified by the charted accountant

PART-B

Purpose of Loan: For each purpose required documents to be submitted along with the above documents.

1.

Education Loan

·         Purpose proof documents ·         Bonfire certificate from the Educational Institution ·         Estimate of course fee ·         Fee receipt or proof of payment ·         Copy of Passport & Visa

NOTE:

• Repayment of monthly installments – as per the Bank rules
• Loan will be sanctioned subject to fulfillment of any other conditions of the Bank (proportionate share amount, loan processing charges, insurance charges)