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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

Within 15 working days from the date of receipt of all documents required for proper appraisal

Convenient Loan Disbursal

Directly to the institute either in full or suitable instalments based on fund requirements and fee schedule

No Margins

On education loans upto Rs. 4,00,000/-

Loan Amount

Minimum - Rs. 50,000
Maximum - *Rs. 10,00,000 for studies in India, *Rs. 20,00,000 for studies abroad

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*Upper limits may be extended for special cases

Features and Benefits

Keep your documents ready

  • 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.

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...

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  • 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...

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  • 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...

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