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Loans

Education Loan

Fuel your dreams with financial assistance for professional or technical education in India or abroad.

 

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Quick Application Approval

Quick loan approval within 15 working days

Convenient Loan Disbursal

Direct credit to the institute

Loan Amount

Minimum - Rs. 50,000 : Maximum - *Rs. 20,00,000 for studies in India, *Rs. 30,00,000 for studies abroad

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*Upper limits may be extended for special cases

Features and Benefits

  • Proof of identity (any one of the following):
    • Passport
    • Voter ID card
    • Driving license
    • PAN card
    • Government department ID card
  • Latest salary slip showing all deductions or Form 16 along with recent salary certificate
  • Proof of residence (any one of the following):
    • Bank account statement
    • Latest electricity bill
    • Latest mobile/telephone bill
    • Latest credit card statement
    • Existing house lease agreement
  • Bank Statement/Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter or the Institute along with Fees schedule
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses
  • Proof of identity (any one of the following):
    • Passport
    • Voter ID card
    • Driving license
    • PAN card
  • IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
  • Proof of residence (any one of the following):
    • Bank account statement
    • Latest electricity bill
    • Latest mobile/telephone bill
    • Latest credit card statement
    • Existing house lease agreement
  • Bank Statement/Pass Book of last 6 months
  • Optional – Guarantor Form
  • Copy of admission letter or the Institute along with Fees schedule
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses

Eligibility

The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

  • Secured at least 50% marks during HSC & Graduation
  • Secured admission in India or Abroad through entrance test / Merit based selection process post completion of HSC (10+2)
  • HAVE QUERIES?

    • What is the time-frame for application decisioning?

    Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete...

    READ MORE

    • What is the margin for Education loans?

    No margin for education loans upto Rs 4 lacs. For loans above Rs 4 lacs, 5% margin for studies within India and 15% for higher studies...

    READ MORE

    • What is the role of a guardian/parent in an education loan?

    The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily...

    READ MORE

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