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Last Updated on 07/08/2019
Career Dreams

PURPOSE OF THE LOAN

Loan for financing Coaching / Tuition fee of reputed Institutions in India to prepare for Professional Courses entrance examinations (Chartered Accountancy / Medicine / Engineering / Business Management etc.), Civil Services examinations (IAS/IPS/IFS etc.) and various Career & Skill development courses (NIIT, APTECH, SSI, SPSS, SAS, SAP etc).

ELIGIBLE PERSONS

Aspirants eligible for the above mentioned courses.

The Institute should be reputed & registered (registration requirement will depend upon the course / training / Government norms) should have run satisfactorily for a period of at least 2 years.

QUANTUM OF LOAN

Minimum: Rs. 25,000/-

Maximum: Rs. 2,00,000/-

MARGIN

  • 5% of the tuition fee as per the fee structure issued by the Institute
  • 25% for immovable property
  • 10% for Movable Assets

REPAYMENT & HOLIDAY PERIOD

  • Maximum repayment period of 3 years without any moratorium
  • In case of salaried class, repayment period not to exceed applicant's retirement age
  • In any case the Repayment period should not exceed 3 years

RATE OF INTEREST

Refer - Interest rates at a Glance

SECURITY

  • If salary is routed through our Bank, no security is required. However, in such cases third party guarantee is mandatory.
  • In case salary / pension is not routed through the Bank, the loan is to be fully secured by collateral in the form of NSC, LIC Policies,
  • Deposits, KVP etc. Third party guarantee is not required.
  • Immovable property also accepted as security

OTHER CONDITIONS

  • The applicant shall be the father, mother, spouse / legal guardian of the aspirant.
  • Individual having regular and verifiable income and have repayment capacity. If the student is a major and has independent income such as working professional and intends to pursue higher studies, he himself may be the applicant.
  • Loan extended for meeting tuition fees of son, daughter or spouse (Beneficiaries).