* Secured admission to professional/ technical courses through Entrance Test / Selection process.

* Secured admission to foreign University / Institution. Amount of finance Need based finance subject to repaying capacity of the parents / students.-

Studies in India – Maximum Rs.10.00 lacs

Studies abroad – Maximum Rs.20.00 lacs Margin money Upto Rs.4.00 Lacs – NIL

Above Rs. 4.00 Lacs

Studies in India – 5% AND Studies Abroad – 15%

- Scholarship /assistantship to be included in margin.

- Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis. Security Norms Upto Rs. 4.00 Lacs – No Security (Co-obligation of parent / guardian is compulsory).

Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.

Above Rs.7.50 Lacs: – Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments. Penal rate of Interest @2% on all irregular Education loans above Rs.4.00 Lacs for the over due amount and over due period. Repayment Period Course period + one year or six months after getting job, whichever is earlier.

5 to 7 years after commencement of repayment. Processing Charges No processing charges for studies abroad upto Rs.4.00 Lacs and in case of studies in India irrespective of loan amount.

In case of loans above Rs.4.00 Lacs for studies abroad.

1. Rs. 5000/- to be collected at the time of delivering sanction letter to the student / guardian.

2. Rs.1000/- to be appropriated towards processing fees.

3. Rs.4000/- to be adjusted towards student’s margin at the time of release of the loan.

4. In case the loan is not availed for any reason by the student, the amount of Rs.4000/-

to be refunded to the student without interest.

No processing charges to be levied on the loans to the wards of Bank’s staff members including Retired Staff.

For More Details : http://www.sbhyd.com

Give your child the best education in the world and help him/her reach higher goals, with an education loan from KVB. We offer loans for studies in India & Abroad for selective courses.

FEATURES
• Loan available up to Rs. 10.00 lacs in India, for studies abroad max. Rs.20.00 lacs.
• Repayable in 60 to 84 monthly installments ( i.e. 5 – 7 years )

Repayment commences after course period + 1 year or six months after getting a Job which ever is earlier

Rate of Interest

PERQUISITES FOR ELIGIBILITY
1. Indian National
2. Secured admission to Professional / Technical / Academic courses
3. Secured admission to Foreign University / Institutions

For More Details : http://www.kvb.co.in/scripts/EducationalLoan.asp

Rate of interest -

Upto Rs.4.00 lakh – 14.25% p.a

Above Rs.4.00 lakh – 14.75% p.a

Higher education within your reach
Axis Bank’s Study Power aims to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad. The loan would be provided to students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level.

Quantum of Loan
The quantum of finance under the scheme is capped at Rs 10.00 lacs for studies in India and Rs 20.00 lacs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs 50,000.

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

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

Security:
Third party guarantee and/or collateral security may be asked for in appropriate cases.

Additional Security:
Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the loan amount. The policy is kept alive during the currency of the loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.

Disbursement:
The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.

For More Details : http://www.axisbank.com/personal/loans/studypower/Education-Loan.asp

For More Details : http://www.andhrabank.in

For More Details : http://www.indian-bank.com

Purpose of Loan
For pursuing higher studies, in India & Abroad

Eligibility
Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process.

Nature of Facility
Term Loan

Calculation of Eligible Loan Amount
For payment of Hostel fee caution deposit, refundable deposit, admission, examination, library, laboratory, cost of books, equipments, uniforms, computer (Hypothecated). One-way air passage in case of studies abroad. Reimbursement of admission fee books airfare etc., if already incurred, within 1 month for studies in India / 6 weeks for abroad.

Maximum loan amount
Rs. 10 lacs for studies in India.
Rs. 20 lacs for studies Abroad.

Margin
Upto Rs. 4 lacs : NIL, Above Rs. 4 lacs:In India – 5% ,Abroad – 15% Margin (scholarship may be included in margin.)

Rate of Interest

Incentive

1% interest concession, if interest is serviced during study period when repayment holiday is specified for interest repayment. It should be given at the end of Financial Year i.e. 31st March.
Interest is calculated at simple basis during Repayment Holiday / Moratorium Period. Interest will be compounded on monthly rests from due date of first instalment.

Disbursement
Payment directly to college / hostel / mess / airlines etc. In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.

Repayment
Repayment to commence 12 months after completion of studies or 6 months after securing jobs whichever is earlier. Maximum period 5 to 7 years. Repayment on EMI basis.

Security
Upto Rs.4 Lakhs: Co-obligation of parents/ guardian/ parent-in-law/spouse
Above Rs. 4 lakhs and up to Rs.7.50 lakhs:
Co-obligation of parents/ guardian/ parent-in–law/spouse together with collateral security in the form of suitable third party guarantee.
Above Rs.7.50 lakhs: Co-obligation of parents / guardian / parent-in–law / spouse together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

Processing Charges
No Processing Fees

For More Details : http://www.centralbankofindia.co.in

The scheme aims at providing financial assistance on reasonable terms:
• To the poor and needy students that they may undertake basic education
• To meritorious students that they may pursue higher or professional or technical education

ELIGIBILITY

The student applying for UNION EDUCATION Loan ought to:
• Be an Indian National
• Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process
• Has secured admission to a foreign University
• Has passed an appropriate qualifying examination

a. Studies in India
§ School education up to +2
§ Graduation/Post-Graduation
§ Professional course
§ Management course
§ Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/IIMs/ /NIT XLRI/BITS/VIT/IISc/S.P. Jain Institute Of Management/Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science.

b. Studies Abroad :
§ Graduation: For job-oriented professional or technical courses offered by reputed universities
§ Post-Graduation: MCA, MBA, MS and such other courses
§ Courses conducted by CIMA, London, CPA, USA., and such other institution

PURPOSE
To the poor and needy students to undertake basic education
To meritorious students to pursue higher or professional or technical education

CONDITIONS
• The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students.
• The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.
• Loan will be disbursed directly to the college/institute.
• Student to produce mark list of previous term/semester before availing next installment.
• Student /Parent to provide latest mailing address before availing next installment.
• In case of parents with transferable job, new address to be provided before availing installments.

QUANTUM OF LOAN
Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings
For studies in India – Up to Rs. 10 lacs
For studies abroad – Up to Rs. 20 lacs

MARGIN
No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.
Scholarship/assistance to be included in margin.
Margin maybe brought in on pro-rata basis as and when disbursement is made.

REPAYMENT
Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.

RATE OF INTEREST(w.e.f  01.07.2009)

For Male Student :
Up to Rs. 4.00 lakhs                               :           11.75% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs  :           12.50% (Fixed)
Above Rs. 7.50 lakhs                              :          12.00% (Fixed)

For Female Student:
Up to Rs. 4.00 lakhs                               :         11.25% (Fixed)
Above Rs. 4.00 lakhs upto Rs.7.50 lakhs  :         12.00% (Fixed)
Above Rs. 7.50 lakhs                              :         11.50% (Fixed)

* Rate of Interest prevailing on the date of sanction shall be applicable.

For More Details : http://www.unionbankofindia.co.in

Education is the greatest asset anyone can have. Recognizing this, HSBC, in affiliation with Global Student Loan Corporation® (GSLC) has designed a student education loan program to provide funding for students who are seeking to attain a world-class education at a U.S college or university.

HSBC India Student Education Loan Program can help ease students’ financial concerns as they embark on one of the biggest decisions in their life – attending the college / university of their dreams. The program enables you to borrow funds to cover the cost of education – tuition, fees, room charges, boarding, books, and other education-related expenses.

Global Student Loan Corporation® – GSLC – is one of the leading organizations which enables non – U.S. students to find the path to a world-class education. With GSLC, you can access a student-specific Loan Certificate demonstrating adequate funding to attend school – a requirement for securing a U.S student visa. You can also receive advice from GSLC’s International Student Planner and remain at ease knowing that GSLC has extensive relationships with many U.S colleges and universities. You will also be able to use GSLC’s Budget Calculator to calculate how much will be needed towards funding your studies.

To know more about GSLC and how it can assist you and to begin an application, visit www.globalslc.com.

Know more
• Features and Benefits
• Eligibility and Documents Required

Features & Benefits
Loans upto Rs. 1 crore* against Residential property
Tenor of upto 15 years

Loan Components
• The tuition fees component can go up to 100% of the total loan amount
• The Lodging & boarding component is a maximum of 40% of the total loan amount
• The Cost of books & equipment component is a maximum of 10% of the total loan amount

The estimate for boarding, lodging expenses and also the cost of books and equipment needs to be confirmed by the concerned school.

Margin Money
• HSBC India can fund a maximum of 85% of the total programme fees
• Upfront contribution proof of the remaining 15% of school fees must be submitted to HSBC, India prior to the disbursal

Currency
• The loan is disbursed in Indian rupees (INR) from where the funds are forwarded to the concerned school in U.S. dollars
• The applicant / co-applicant must repay the loan in Indian Rupees (INR)

Fees & Charges**
Processing fees
• 1% of the loan amount applied for, subject to a minimum of Rs 5000 plus service tax. This fee is payable on application and is not refundable
• Additional fees, as charged by GSLC apply. (If applicable)
○ A one-time administration fee of 1.75% + service tax (@ 10.30%, totally 1.93%) would be charged by GSLC which to be paid in the form of a cheque favouring GSLC’s India bank account
○ An upfront non-refundable application fee of $75 is payable to GSLC via Credit Card through the GSLC website

Pre-payment charges
• No pre-payment charge up to a maximum of 25% of the outstanding loan, once every financial year (April-March)
• A pre-payment charge of 4% shall be levied for the amount in excess of 25% of the outstanding loan amount
• Loan prepayment can be done only after six months from the disbursal date

For More Details : http://www.hsbc.co.in

A SyndicateBank’s Education Loan Scheme

SyndicateBank’s involvement in education dates back to the decades prior to the Nationalisation of Banks. The Bank was also the first to set up a string of Rural Training Institutes aimed at empowering the young India in rural areas through entrepreneurial education and training.

Continuing this commitment to education, the Bank has introduced a comprehensive Education Loan Scheme-SyndVidya, which is more student responsive and parent friendly. The Scheme covers the entire spectrum of educational needs from the school education to super speciality courses including overseas courses. The scheme makes available need based finance to cover expenses related to education such as fees payable to College, Hostel, Examination, Library, Laboratory fees, caution deposit/building fund/refundable deposit upto 10% of tuition fee, Cost of Books, Equipments, Travel expenses for studies abroad etc. Only capitation fees, donation or external coaching fee are not covered. The loan scheme carries liberal limits of Rs.10.00 lac for courses within the country and Rs.20.00 lac for overseas courses. The scheme which is attractively priced at the Bank’s prime lending rate and other details are furnished below :

Eligibility Criteria
• Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality.
• Must have secured admission on the basis of merit to professional/ technical/other courses through entrance test/selection process. Deviation/relaxation is also permitted under special circumstances.
• Must have secured admission to Foreign universities/Institution (for studies abroad).

Courses Eligible

a) Studies in India.
• Graduation: B.A., B.Com, B.Sc., etc.
• Post graduation: Masters & Phd.
• Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. In respect of Management studies, apart from University affiliation, course should also be approved by All India Council for Technical Education. For Computer education, the recognised training Institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics Accreditation of Computer Course (DOEACC) Scheme.
• Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
• Courses offered in India by reputed foreign universities.
• Evening courses of approved institutes.
• Other courses leading to Diploma / Degree etc. conducted by colleges / universities approved by UGC / Govt./ AICTE / AIBMS / ICMR etc.
• Courses offered by National Institutes and other reputed private institutions acceptable to the Bank.

b) Studies abroad.
• Graduation : For job oriented professional/technical courses offered by reputed universities.
• Post Graduation: MCA, MBA, MS. Etc.
• Courses conducted by CIMA-London, CPA in USA etc.
• Other Foreign Diploma courses are not eligible.

Student Eligibility
• Should be an Indian National.
• Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process. Deviations/relaxations are also permitted under special circumstances.
• Secured admission to foreigh university / institutions.
• The student who is a major representing himself or a minor student represented by parent or guardian.

Quantum of Loan
• Need based finance to meet expenses such as fee payable to college / school / hostel, examination fee, cost of books, travel / passage fare for studies abroad etc.
• Capitation fee / donation / external coaching fee are not eligible for finance.
• Maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad.

Margin
• For loans upto Rs.4 lac – No Margin required.
• For loans above Rs.4 lac – 5% for study in India and 15% for study abroad.

Security
• For loans upto Rs.4.00 lac – NIL.
• For loans above Rs.4.00 lac and upto Rs.7.50 lac – Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
• For loans above Rs.7.50 lac – Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.

NOTE: In all the above cases, the parent / guardian shall join the transaction as co-borrower

Interest (PLR presently 12%)
• For loans upto Rs.7.50 lakhs – PLR minus 2.00%
• For loans above Rs.7.50 lakhs – PLR minus 2.50%
• No processing charges/service charges are levied for educational loans

Repayment
• In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.

Capability Certificate
• Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.

For More Details : http://syndicatebank.in

We are now at your doorstep to support your pursuit for excellence. Our Educational Loan Scheme has been designed to meet your expenses for higher studies in India and abroad.

You may avail upto Rs. 7.5 Lacs for study in India and upto Rs. 15.00 Lacs for studying abroad. If you are an Indian National and secured an admission to any of the following academic/ professional/ technical courses through Entrance Test/ Selection process in a Board/ Institution/ University.

Courses Eligible for Study in India:
• Graduation Courses : B.A., B.Com, B.Sc., etc.
• Post Graduation Courses : Masters and Ph.D.
• Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
• Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University.
• Courses like ICWA, CA, CFA, etc.
• Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
• Courses offered in India by reputed foreign Universities.
• Evening Courses of approved Institutes.
• Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Courses Eligible for Study Abroad:
• Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
• Post Graduation : MCA, MBA, MS, etc.
• Courses conducted by CIMA – London, CPA in USA etc.

Quantum of Loan:
1. For study in India : Max. Rs. 10 lac
2. For study abroad : Max. Rs. 20 lac

Other Rules :
Expenses covered by the Loan :
○ Fees payable to College/ School/ Hostel.
○ Examination/ Library/ Laboratory Fee.
○ Purchase of Books/ Equipments/ Instruments/ Uniforms.
○ Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts.
○ Travel Expenses/ Passage Money for studies abroad.
○ Purchase of Computers : Essential for completion of the Course.
○ Any other expenses required to complete the Course like study tours, project work, thesis, etc.

Rate of Interest :

Repayment of Loan:
The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 1 year or 6 months after getting job whichever is earlier.
Life Insurance Coverage:
To ensure security to student’s and borrower’s life and against their loan liability and additional loan componant for payment of one-time premium for such insurance coverage my be sanctioned by bank on request from the customer.

Note:
• The accrued interest during repayment holiday period is to be added to the principal and repayment in EMI fixed.

Security :
• Upto Rs. 4.00 Lacs : Nil
• Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee.
• Above Rs. 7.50 lacs: Collateral of suitable value or suitable third party guarantee.

Note:
i. Assignment of future income of student for repayment of loan to be done in all cases.
ii. The document should be executed by both the student and the parent/ guardian.
iii. The security may be of mortgage of land/ building/ paper securities or unencumbered portion of already mortgaged land/ building on 2nd charge basis provided the value of the same covers the required loan amount or any other 3rd party with suitable margin on the value of paper securities.
In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank.

For More Details : http://www.unitedbankofindia.com/education-loan.asp

Scope:

The scheme extends a helping hand to meritorious students desirous of pursuing basic/higher/professional/technical education either in India or abroad. The parents will become co-borrowers with their dependant (student) if the latter applies for educational loan.

Studies in India
School education including plus 2 stage.
Graduation courses leading to degrees like B.A., B.Sc., B.Com. etc.
Post Graduate courses leading to Masters degrees as also Ph.D.
Professional courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
Computer Certificate courses of reputed institutes accredited to Universities or DoE.
Courses like ICWA, CA, CFA, etc.

Studies Abroad
Graduation : Job oriented professional / technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA – London, CPA in U.S.A., etc.

Eligibility
Applicant must have secured admission to professional/technical course through Entrance Test/Selection Process.
Secured admission to foreign University / Institution.
No maximum or minimum income is prescribed for parents/family.

Age limit :
18 to 25 years for graduation course – may be extended from 28-30 years for general and SC/ST candidates respectively.
21 to 28 years for post-graduation course etc. – may be extended from 30 -33 years for general & SC/ST candidates respectively.

Quantum of loan
Need based finance subject to repaying capacity of parents/students with following ceilings :
Studies in India : Maximum Rs. 10.00 Lac
Studies Abroad : Maximum Rs. 20.00 Lac.

The loan amount under the scheme would be for meeting the following expenses :

Course Fees
Hostel/Boarding Fees including caution deposit/building fund etc.
Books, Stationery & Equipment required for the course, including Computers.
Examination/Library/Laboratory fees.
Travel Expenses/Passage for studies abroad.

Security
Upto Rs.4.00 lacs – No security
Above Rs.4.00 lacs – Collateral securities by way of suitable 3rd party guarantee or tangible security equivalent to loan amount.

Margin
Upto Rs. 4 Lac – Nil
Above Rs. 4 Lac Studies in India – 5%
Studies Abroad – 15%

Service Charge : There is no processing fee /no service charge

Interest Rates-

Upto Rs.4 lacs : BPLR – 1.00% = 11.25% p.a.
Above Rs.4 lacs : BPLR – 0.50% = 11.75% p.a.

Repayment
The loan will be repaid in 5-7 years after commencement of repayment. There will be moratorium for repayment during “the course period +1 year or 6 months after getting job, which ever is earlier”.
1% interest concession may be provided, if the interest is serviced during moratorium period.

For more details : http://www.ucobank.com/loan.htm>

Courses offered
An installment based loan for all courses mentioned below:

a. Studies in India:
○ Graduation courses : BA, B.Com., B.Sc., etc
○ Post Graduation courses : Masters & Phd
○ Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
○ Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university
○ Courses like ICWA, CA, CFA etc
○ Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc
○ Courses offered in India by reputed foreign universities
○ Evening courses of approved institutes
○ Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc
○ Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

b. Studies abroad:
○ Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.

c. Special Courses
○ Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority .

Loan Amount
Maximum loan amount :
• Study in India-Rs.10 lakhs
• Study Abroad -Rs.20 lakhs

Loan Margin:
• Upto Rs. 4 lac – Nil
• Above Rs. 4 lac -
- studies in India – 5% of the total course expenditure
- studies abroad – 15% of the total course expenditure

Expenses Covered under Loan
• Fee payable to college/ school/ hostel
• Examination/ Library/ Laboratory fee
• Purchase of books/ equipments/ instruments/ uniforms
• Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts
• Travel expenses/ passage money for studies abroad
• Purchase of computers – essential for completion of the course
• Any other expense required to complete the course – like study tours, project work, thesis, etc.`
• Insurance premium for student borrower

Repayment terms
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.

ROI
Additional discount of 0.50% on the applicable Rates of Interest till March 31, 2010

Simple interest to be charged during repayment holiday and moratorium
Accrued interest during the repayment holiday period should be added to the EMIs.
Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate.
• 50 basis points reduction for girl applicants

50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner)
* BPLR subject to change

Repayment holiday / moratorium :
Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier .
The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.

Collateral Security

For More Details : http://www.idbi.com/products/educationalloan_roi.asp

Purpose :
For higher education(after schooling).

Items eligible for Finance:-
Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments,
Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.

Eligibility:
Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.

Amount of Loan:
Education in India – Max. Rs.10.00 lacs.
Education Abroad – Max. Rs.20.00 lacs.

Security:

For Loans upto Rs.4.00 lac
•    No Collateral Security
•    Co-obligation of parents/guardian is must.

For Loans above 4 lacs and upto Rs.7.50 lacs
•    No Collateral Security required,
•    Co-obligation of parents/guardian is must
•    One satisfactory third party guarantee

Above Rs.7.50 lacs
•    Co-obligation of parents/guardian is obligatory.
•    Mortgage of immovable property or any other tangible security like pledge of NSC/UTI/LIC (Surrender Value)/Bonds/
Banks deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan. Extension of charge on property already mortgaged with our Bank, subject to adequate residual value of security.

Margin:
Upto 4 lacs – NIL
Above 4 lacs for education in India – 5%
Education Abroad – 15%

Rate of Interest

Concession on Rate of Interest :
Simple Interest shall be charged during study and moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study and moratorium period. This concession shall be allowed after expiry of moratorium.

Special Rate:
0.50% concession to women beneficiaries, SC/STs and disabled students.

Process Fee:
Upto 4 lacs – Rs. 100/-.
Above 4 lacs for education in India – Rs. 500/-
Education Abroad – Rs. 1000/-

Repayment:
Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.

Insurance:
Free Personal Accident Insurance upto Rs.20 lac.

For More Details :http://www.obcindia.co.in

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Eligible Courses

All courses having employment prospects are eligible.
•    Graduation courses/ Post graduation courses/ Professional courses
•    Other courses approved by UGC/Government/AICTE etc.

Expenses considered for loan
•    Fees payable to college/school/hostel
•    Examination/Library/Laboratory fees
•    Purchase of Books/Equipment/Instruments/Uniforms
•    Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
•    Travel Expenses/Passage money for studies abroad
•    Purchase of computers considered necessary for completion of course
•    Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc.

Amount of Loan
•    For studies in India, maximum Rs. 10 lacs
•    Studies abroad, maximum Rs. 20 lacs
Interest Rates
w.e.f. 29.06.2009 (SBAR 11.75%)

SBI Student Loan Scheme

An Interest Rate concession of 0.50% to Girl Student availing Student Loans

Processing Fees
•    No processing fee/ upfront charges
•    Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

Repayment Tenure
Repayment will commence one year after completion of course or  6 months after securing a job, whichever is earlier.

Security

All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law

Margin
•    For loans up to Rs.4.0 lacs : No Margin
•    For loans above Rs.4.0 lacs:
o    Studies in India: 5%
o    Studies Abroad: 15%

Documentation Required
•    Completed Education Loan Application Form.
•    Mark sheets of last qualifying examination
•    Proof of admission scholarship, studentship etc
•    Schedule of expenses for the specified course
•    2 passport size photographs
•    Borrower’s Bank account statement for the last six months
•    Income tax assessment order, of last 2 years
•    Brief statement of assets and liabilities, of the Co-borrower
•    Proof of Income (i.e. Salary slips/ Form 16 etc)
* Conditions Apply

For More Details : http://www.sbi.co.in

1. Objective of the scheme: The educational loan scheme outlined below aims at providing financial support from the banking system to deserving and / meritorious students for persuing higher education in India and abroad. The main emphasis is that every meritorious student though poor is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to pursue higher education for want of financial support.

2. Applicability of the Scheme: The scheme detailed below could be adopted by all commercial Banks. The scheme provides broad guidelines to the banks for operationalising the educational loan scheme and the implementing bank will have the discretion to make changes suiting to the conveninence of the students / to make it more customer friendly.

3. Eligibility Criteria :

3.1 Student Eligibility :
• Student should be an Indian National
• Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process.

3.2 Courses Eligible:

(a) Studies in India : ( Indicative List)
• Graduation courses : B.A. B.Com, B.Sc., etc.
• Post Graduation courses : Masters & Phd.
• Professional Courses: Engg. , Medical, Agriculture , Veterinary, Law ,Dental, Management , Computer etc.
• Computer certificate courses of reputed institutes accredited to Deptt. of *electronics or institutes affliated to university.
• Courses like ICWA , CA , CFA etc.
• Courses conducted by IIM, IIT, IISc , XLRI, NIFT, etc.
• Courses offered in India by reputed foreign universities .
• Evening courses of approved institutes.
• Other courses leading to diploma / degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE /AIBMS/ ICMR etc.
• Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on the future prospects/recognition by user institutions.

(b) Studies Abroad :
• Graduation For job oriented professional/technical courses offered by reputed universities.
• Post Graduation MCA,MBA,MS etc.
• Courses conducted CIMA-Londin, CPA in USA etc.
3.3 Expenses considered for Loan
• Fee payable to College/School/hostel.
• Examination/library/laboratory fee.
• Purchase of books/equipments/instruments/uniforms.
• Caution deposit/building fund/refundable deposit supported by institution bills/receipts.
• Travel expenses/passage money for studies abroad.
• Purchase of computers-essential for the completion of the course.
• Any other expense required to complete the course- like study tours, project work, Thesis etc.

4. Quantum of Finance.
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings.
Studies in India – Maximum Rs. 7.50 lacs
Studies abroad – Maximum Rs. 15.00 lacs.

5. MARGIN
Upto Rs. 4.00 lac   : NIL
Above Rs. 4.00 lac : Studies in India : 5%
Studies Abroad : 15%

Scholarship/assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

6. SECURITY

Upto Rs. 4.00 lac : No Security
Above Rs. 4.00 lac & : Collateral in the form of a suitable third party
Upto Rs. 7.5 lac guarantee. The Bank may, at its discretion waive third party guarantee if satisfied with the net worth/means of parent who would be executing the documents as “joint borrower.”
Above Rs. 7.5 lac Collateral security of suitable value or suitable third party guarantee alongwith the assignment of future income of the student for payment of installments.

NOTE :
• The loan documents should be executed by both the student and the parent/guardian as joint borrower.
• The security can be in the form of land/building/Govt. securities/Public Sector Bonds/Units of UTI,NSC,KVP,LIC Policy, gold, shares/debentures, bank deposit in the name of student/parent/guardian or any other third party with suitable margin.
• Wherever the land/building is already mortgaged, the unencumbered portion can be taken as security on II charge basis provided it covers the required loan amount.
• In case the loan is given for purchase of computer the same is to be hypothecated to the Bank.
Banks who wish to support highly meritorious/deserving students without security may delegate such powers to fairly higher level authority.

7. RATE OF INTEREST

(a)The concession of 1% additional interest on account of service shall be governed by HO PS Circulatory letter No.67/2004 dt 15.12.2004 as already laid down under the scheme.
(b)Further, an additional benefit of 0.50% will be applicable to those borrowers (including staff) who offer additional collateral covering 100% of the loan amount.

Simple interest to be charged during the Repayment holiday/moratorium period Penal interest @ 2% be charged for above Rs. 4.00 lacs for the overdue amount and overdue period.

8. APPRAISAL/SANCTION/DISBURSEMENT
• In the normal course, while appraising the loan the future income prospects of the student will be looked into. However, where required, the means of parent/guardian could also be taken into account to evaluate re-payment capability
• The loan to be sanctioned as per delegation of powers preferably by the Branch nearest to the place of domicile.
• No application for educational loan received should be rejected without the concurrence of the next higher authority.
• The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/Vendors of books/equipments/instruments to the extent possible.

9. REPAYMENT

Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier

The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time , extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extension as may be deemed necessary to complete the course.
• The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) fixed.
• 1% interest concession may be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest / repayment under the scheme.

10. FOLLOW UP
Banks to contact college/university authorities to send the progress report at regular intervals in respect of students who have availed loans.

11. PROCESSING CHARGES
No processing/upfront charges may be collected on educational loans.

12. CAPABILITY CERTIFICATE :

Banks can also issue the capability certificate for students going abroad for higher studies. For this financial and other supporting documents may be obtained from applicant, if required.

(Some of the foreign universities require the students to submit a certificate from their bankers about the sponsors’ solvency/financial capability ,with a view to ensure that the sponsors of the students going abroad for higher studies are capable of meeting the expenses till completion of studies).

13. OTHER CONDITIONS :

No due certificate need not be insisted upon as a pre-condition for considering educational loan. However, banks may obtain a declaration/an affidavit confirming that no loans are availed from other banks.

Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending.

In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case to case basis delegating the powers to a fairly higher level authority.

For More Information :  <http://www.psbindia.com/education.php>

With HDFC bank student education loans, pursue your dream higher studies without worrying for financial assistance. We provide student education loans for all Graduate, Post-Graduate, Engineering, Medical, MBA , Vocational Courses (Multi-Media, ERP) offered by recognized institutions in India. No more running from pillar to post for availing student loans! Our friendly sales managers will guide you in every step to make your dreams into reality.

Features & Benefits –Indian Education
•    Student Loans Upto Rs. 15 Lakhs for education In India
•    Unsecured Lending Upto INR 7.5 Lakhs
•    No Collateral Or Third Party Guarantee**
•    Wider Range Of Collateral For Loans Above INR 7.5 Lakhs
•    Residential Property
•    HDFC Bank Fixed Deposit
•    LIC/NSC/KVP
•    Loan available upto tenure of 7 years including moratorium period
•    Repayment to start 1 year after course completion / 6 months after obtaining employment (whichever is earlier)
•    Loans available for short duration/ job oriented courses also

Avail the tax rebate offered under section 80-e of the income tax act* 1961 for the entire interest amount paid on your education loan.
E-mail loansupport@hdfcbank.com to receive interest certificate for FY 08-09
Loans available for other course related expenses also!
•    *Pls check with your CA.
•    # From Bank’s approved list of Institutes.
•    **Third Party Guarantee for loans between Rs 4 lakhs to 7.5 lakhs

Special privileges
•    Service At Your Door Step
•    Loans disbursed directly to the educational institution as Per the Fee Schdule.
•    Insurance Protection from HDFC ERGO
•    Gateway To Other Banking Products And Services.

Savings Account
Insurance Protection from HDFC ERGO General Insurance Company Ltd
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between HDFC Limited, India’s premier Housing Finance Institution & ERGO International AG, the primary insurance entity of Munich Re Group.
HDFC ERGO focuses on providing the “Right Insurance Solution” for all. They offer customers complete range of general insurance products ranging from Motor, Health, Travel, Home and Personal Accident in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space.

The organization has been expanding its presence across the country and is today present across 46 cities with 52 branch offices with an employee base of over 650 professionals. The company has a right balance of distribution channel comprising of Dealerships, Brokers, Retail and Corporate Agents, Bancassurance and Direct Sales Team.

*Conditions Apply
* Premium will be charged for this product. A transaction fee of Rs.500 will also be deducted at the time of disbursal. Pls note that service tax @ 10.30%(Inclusive of Education Cess) will also be charged on both the premium and the transaction fee.

For More Details  : http://www.hdfcbank.com

Purpose
• Higher Studies in India & Abroad

Eligibility
• Students of Indian Nationality
• Residents & Non-Residents

Loan Amount
• Up to Rs. 25 Lakhs

Period
• Maximum 11 years

Interest
• Up to Rs.4 Lakhs – 11.50%
• Above Rs.4 Lakhs – 14%

Security
Co-obligant/Collateral Security

For More Details : http://www.federalbank.co.in

For More Details : http://www.bankofmaharashtra.in/credit_fac_edu.asp