Features
♦ Scheme for Scholar students to meet their aspiration for higher studies like Engineering, Medicine, IT, IIT, M. Tech etc. in India and Abroad.
♦ 75% of the course fees or maximum Rs 20.00 Lakhs in India and Rs 40.00 Lakhs for Abroad
♦ Repayment in 60 months, EMI’s to start six months after completion of study or getting job whichever is earlier.
♦ Rate of Interest at prevailing rate and concessional for girl child.
♦ Loan will be jointly in the name of student and father/mother.
♦ Documentation Charges as applicable
Eligibility
♦ Admission letter plus fee structure to be obtained from the Education Institution/University and submitted.
♦ Visa copy to be submitted in case of loan from Abroad.
♦ To provide registered property with 150% of the Distress Value to cover the loan amount.
♦ CIBIL Score 650 with no Overdues of applicant(s)/guarantors
Required Documents
♦ KYC documents + PAN card of applicant(s) and guarantor(s) – Business and Residential..
♦ Financial papers along with Min Two Years ITR’s
♦ Audited Balance sheets whereever applicable.
♦ Two acceptable guarantors with acceptable income
♦ Property security offered to be Registered Mortgage.