Educational Loan for Students from the Government of India




Government of India in consultation with Reserve Bank of India (RBI) and Indian Banker's Association (IBA) has created an Educational Loan Scheme to ensure that no deserving student in the Country is deprived of higher education for want of finances. The new scheme covers all type of courses including professional courses in schools and colleges in India and abroad.

The features of this scheme are:

1. The scheme offer's loans up to Rs.7.5 lakh for studies in India and up to Rs. 15 lakh for studies abroad.

2. For loans up to Rs. 4 lakh no collateral or margin is required and the interest rate is not to exceed the Prime Lending Rates (PLR). For loans above Rs. 4 lakh the interest rate will not exceed PLR plus 1 percent.

3. The loans are to be repaid over a period of 5 to 7 years with provision of grace period of one year after completion of studies

To know the rules, regulations, eligibility conditions, repayments and interests rates, visit the below listed Bank's Website's-

Allahabad Bank - www.allahabadbank.com

Andhra Bank- www.andhrabank-india.com

Bank of Baroda- www.bankofbaroda.com

Bank of India - www.bankofindia.com

Bank of Maharashtra - www.maharashtrabank.com

Canara Bank - www.canbankindia.com

Central Bank of India - www.centralbankofindia.com

Corporation Bank - www.corpbank.com

Dena Bank - www.denabank.com

Indian Bank - www.indbank.com

Indian Overseas Bank - www.iob.com

Oriental Bank of Commerce - www.obcindia.com

Panjab and Sindh Bank - www.psbindia.com

Panjab National Bank - www.pnbindia.com

State Bank of India - www.sbi.co.in

State Bank of Bikaner and Jaipur - www.sbbjbank.com

State Bank of Hyderabad - www.sbhyd.com

State Bank of Indore - www.statebankofindore.com

State Bank of Saurashatra - www.sbsbank.com

State Bank of Travancore - www.sbtr.com

Syndicate Bank - www.syndicatebank.com

Uco Bank - www.ucobank.com

Union Bank of India - www.unionbankofindia.com

United Bank of India - www.unitedbankofindia.com

Vijaya Bank - www.vijayabank.com


Related Articles

The changing trends of students and teachers

The trends of teaching has changed drastically. During the yesteryears, the students were treated very strictly and today the teachers are treated strictly. But, both of them should realize their role and play their role effectively. Both of them should be laid with moderate terms and conditions.

Behaviour of Modern Students

Are you parent of a child? Do you want your child should be on top in character and should bring a great name to him/herself. Read this article to know what is the behaviour of the latest generation and what are the tips to be followed

Memory Tips for Students and Others Struggling With Recall

Forgetting and memory recall are sometimes the worst situations where one can fail and this happens most of the times with students who have to remember a lot in studies and during examinations. This article gives tips for good memory in students and improving recall.

More articles: Students

Comments

Author: Y. SRINIVASA RAO22 Jul 2009 Member Level: Gold   Points : 1

This is really a very good information. It will be helpful to the students who want to go for higher studies.
But what type of courses the loan is eligible?
Y. Srinivasa Rao



  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name:
    Email: