Purpose : For pursuing studies in recognized schools/ colleges/ institutions to meet:
Tuition and other fees
Maintenance costs, books and equipment
Cost of passage (for studies abroad)
Eligibility : For School / College education in India.
Minimum second division (Pass marks for SC/ST)
Parents / guardians (Including persons engaged in agriculture / allied activities having independent regular source of income.
Loan Amount :
School/College Education in India : Upto 6 times the monthly net (take home) income of the parents/guardian.
Minimum loan : Rs.40000
Maximum loan : Rs1 lakh
Technical/Professional higher studies in India and Abroad: 90% of the cost of study, subject to maximum of Rs.8 lakh
Margin : 10%
Interest Rate
Loan amount is offered at competitive rates on reducing balance only.
Period of Loan :
For School/College Education in India: Loans to be repaid in a period of 36 months, commencing immediately after disbursal, by the parents/guardian.
For Technical/Professional higher studies in India and Abroad : The loan is to be repaid is 60 months after the completion of the course or securing job, whichever is earlier. Regular periodic repayment as much as possible should be made during the period of study. Quarterly interest should be paid regularly.
The contents are informative in nature. Candidates are advised to refer to the notice published on Official Websites of the organization(s) administering the particular Courses/Test(s) / Examination(s).
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