Bank provides convenient educational loans for meritorious/deserving students to acquire knowledge and skill in the field of their interest. By playing beacon, new-generation's quest for success is ably supported, paving way for Generation Banking.

Eligibility

• The applicant should be an Indian National.
• He / She should have secured admission to professional / technical courses in India or abroad through Entrance Test / Merit based selection process.
• Age of the Student - 15 to 30 Years (For Studies in India)
• Age of the Student - 18 to 35 Years (For Studies in Abroad)

Study in India

    1. Diploma/Graduation/Post-graduation courses in various disciplines.
    2. Computer certificate courses of reputed institutes accredited to The Department of Electronics.

Study Abroad

    1. Job-oriented professional/technical courses offered by reputed universities.
    2. MCA, MBA, MS etc.
    3. Courses conducted by CIMA – London, CPA in USA etc.

Maximum Permissible Amount of Loan

    • For Study in India - Rs.10.00 lacs
    • For Study Abroad - Rs.20.00 lacs

* Higher quantum of loan also can be considered in deserving and meritorious cases.

Margin

• Upto Rs.4.00 lakhs - NIL
• Above Rs.4.00 lakhs
   For Study in India - 5%
   For Study Abroad - 15%

Rate of Interest

    • Upto Rs.4.00 lakhs   -11.25 % p.a.
    • Rs.4.00 lakhs upto Rs.20 lakhs -11.50 % p.a.

Particulars to be submitted

Particulars	Study in India	Study  Abroad
Proof of residence	Photocopy of Ration Card or Voters Identity Card or Passport or Electricity or Telephone bill	Same
Academic record	Copy of the Xth std/XIIth std mark list, for under graduates. Degree mark list/provisional certificate for postgraduates.	Same
a. Date of birth/age b. Community (for statistical purpose only)	a. SSLC/TC/Mark list  b. Community Certificate	Same  besides Passport
Family Income	Salary certificate/ Pension certificate/ Auditor's certificate in case of business category/ IT return filed/ any other proof for the income stated.	Same
Admission	Admission letter/ Bonafide student certificate from the college/ University	Certificate/ 120 from the College/ University
Fee structure	Letter/ Certificate from College/ University	Certificate/ 120 from the College/ University
Passport/Visa	Not applicable	Copies to be enclosed
Guarantee/Co-obligation	Parent's/ Guardian' Co-obligation to be furnished	Same
Collateral, where ever required	LIC policy (surrender value of which should be not less than the loan amount at the time of availing the loan)/ Share certificates/ Units of UTI etc. Valuation certificate from Bank's approved panel valuer and legal opinion from Bank's panel advocate in case of land/ buildings.	Same
Margin (Above Rs.4.00 Lacs)  a. For studies in India: 5%  b. For studies in Abroad: 15%	Details regarding source of funds for meeting the margin furnished along with documentary evidence	Same
Documents to be enclosed	A&L of the student/ parent/ guardian/ guarantor. (Details of securities in Col.9)	Same

Banks Providing Education Loan

Private Banks	Website
HDFC Bank	www.hdfcbank.com
Axis Bank	www.axisbank.com
ING Vysya Bank	www.ingvysyabank.com
Cosmos Co-Operative Bank Ltd	www.cosmosbank.com
Public Sector Banks
Sate Bank Of India	www.sbi.co.in
Union Bank India	www.unionbankofindia.co.in
Bank of India	www.bankofindia.com
Canra Bank	www.canrabank.com
Allahabad Bank	www.allahabadbank.com
Bank Of Baroda	www.bankofbaroda.com
Oriental Bank of Commerce	www.obcindia.co.in
Vijiya Bank	www.vijayabank.com
Syndicate Bank	www.syndicatebank.in
Indian Overseas Bank	www.iob.in
IDBI	www.idbi.com
UCO Bank	www.ucobank.com
Punjab & Sind Bank	www.psbindia.com
Fedral Bank	www.federalbank.co.in
Financial Institutions
Credila Financial Services	www.credila.com
Apna Loan	www.apnaloan.com