|
|
For Studies in India - Scheme Highlights
Purpose of Educational Loan in Indian Bank: To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.
Approved courses:
Computer Courses:Part-time/Full-time in Institutes approved by Government of India (Department of Electronics) Duration of the course: Minimum - 12 months : Maximum - 48 months
Amount of loan-Indian Bank:
For Computer Courses: Maximum : Rs.1.00 lac
For other professional courses:Maximum : Rs.3.50 lacs
Margin-Indian Bank:
Upto Rs.2.00 lacs : 10%Upto Rs.3.50 lacs : 15%
Rate of Interest-Indian Bank:
Upto Rs.2.00 lacs : 12%Above Rs.2.00 lacs upto Rs.3.50 lacs : PLR +1% (i.e. 13.5%)
Period of loan-Indian Bank:
Initial holiday period of 6 months after the completion of the course or immediately on getting a job whichever is earlier For limits upto Rs.1.00 lac : 42 monthsFor limits upto Rs.3.40 lacs : 60 months
For Studies Abroad - Scheme Highlights
Course of Study-Indian Bank: Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years.
Amount of Loan-Indian Bank: Maximum - Rs.10.00 lacs.
Margin:
Upto Rs.5.00 lacs : 15%Above Rs.5.00 lacs : 25%
Rate of Interest: PLR + 1.5% (i.e. 14%)
Period of loan-Indian Bank: Interest to be serviced every quarter. Repayment of principal to commence 6 months after the completion of the course or immediately on getting a job whichever is earlier.For limits upto Rs.10.00 lacs - Maximum 96 months
|
No responses found. Be the first to respond and make money from revenue sharing program.
|