Education Loan

You can now pay for college the smart way with our Educational Loan at competitive interest rates! This loan is an ideal solution to help you pay for college expenses and continue to pursue your higher education in India or overseas.

 Eligibility

• The student should be an Indian National
• Should have secured admission to a higher education course in a recognized Institution in India or abroad

Repayment Period

MORATORIUM

• No Moratarium Period

PREPAYMENT PENALTY:

• None

Security

• Parent / Guardian / close relative to be joint borrower(s)
  Collateral security of value equivalent to loan amount
  Assignment of future income of the student for payment of installment
• *for CIBIL score 750 & above
  *Contact your nearest branch for details

DOCUMENTS REQUIRED

PROOF OF IDENTITY

• Aadhar Card/Driving license/ Passport/ PAN card/Election card/Job card issued by Govt. agencies

PROOF OF RESIDENCE

• Aadhar Card/Driving license/ Passport/ Election card/Job card issued by Govt. agencies

PROOF OF INCOME

• Last 3 years Balance Sheets/Income Tax Returns, last 3 months salary slips and Salary/Business bank account statement of last 1 year of the co-applicant(s)
• Enrollment /Offer letter with Prospectus of the College/ University
• Receipts of the Payment made, if any
• Undertaking to be obtained from the student pursuing education course abroad to remit his/her salary to the NRE account with the branch/ deposit monthly loan repayments till closure of the loan and SI to debit the same to be held on record
• Copy of Ticket & Visa (in case of Education course abroad)
• Term wise marksheet/ transcripts copies