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    Education Loans
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    Are you a brilliant student wishing to pursue higher studies but do not have enough resources? Well, there is nothing to worry about. A good number of nationalized banks in India have come up with diverse schemes for providing financial assistance to young scholars, to enable them to fulfill their dreams. According to a circular recently released by the RBI, for studies within the country the ceiling of the loans provided is approximately Rs.7.5 lakhs, while it is Rs15 lakhs for higher studies abroad.


    Andhra Bank HDFC State Bank of Mysore
    Allahabad Bank Indian Overseas Bank Syndicate Bank
    Bank of Baroda Indian Bank State Bank of Travancore
    Bank of Maharastra IDBI Money Scholar State Bank Of Saurashtra
    Bank of India Karnataka Bank United Bank Of India
    Bank of Rajasthan Mysore Bank UCO Bank
    Canara Bank Oriental Bank of Commerce United Western Bank
    Central Bank Punjab and Sind Bank Vijaya Bank
    Catholic Syrian Bank Punjab National Bank Vysya Bank
    Development Credit Bank Ltd. State Bank of Hyderabad  
    Dena Bank State Bank of India  
    Federal Bank Ltd. State Bank Of Indore  

    Bank of India

    Vidya Vardhini Scheme

    Purpose:
    Pursuit of studies In India and abroad

    Approved Courses:
    Graduate and post-graduate courses in engineering,computertechnology, medicine etc.All vocational courses/job oriented diploma courses, recognised by govt and universities.Similar courses pursued in universities abroad. Full time post graduate research in any of the aforesaid subjects.

    Eligibility:
    Should be a citzen of India. For vocational training courses and job oriented course age of the individual should be between 15-28 years,and 18-30 in case of post graduate courses and/or studies abroad.The applicant should have a good academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the specific entrance examinations. The applicant should have secured a minimum of 50% marks in the major subject.In case of SC/STcandidates eligibility norms may be relaxed.

    Amount of loan:
    The loan could vary depending on the specific subject requirement.For studies abroad Rs15 lakhs.For studies in India Rs 7.5lakhs

    Margin
    Upto Rs 4lakhs -nil
    For Studies in India- 5%
    For studies abroad-15%

    Repayment
    Within 15 years from the first dateof disbursement, including moratorium period

    Contact :
    Delhi Tel: 3312654, 3311557
    Bangalore Tel: 2212485, 2271130
    Chennai Tel: 8270041, 8276143
    Hyderabad Tel: 3315263, 3324487
    Kolkata Tel: 2481973, 2485703
    Mumbai Tel: 2023020

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    Central Bank

    Finance for Education

    Cent Vidyarthi Scheme

    Purpose: Aims at bringing Education within the reach of students and help them improve their prospects in life.

    Courses Approved

    For pursuing Graduate/Post-Graduate, Management/Job-oriented courses, Professional Courses of recognised Universities / reputed Institutes, Computer courses conducted by NIIT, APTECH, CMC, C-DAC with duration of one year and more.

    For pursuing Post-Graduate course in Science, Technology, Medicine, Engineering, Management courses, Law, Accountancy leading to Master's degree or Post-Graduate Diploma in recognised University abroad.

    Eligibility: Should have consistent good academic record in previous examinations with marks over 60 % in 10th.& 12th or first grade in other cases.
    (For SC/ST Second class will be sufficient).

    Amount of Loan: India Upto Rs.7.50 lakh,Abroad Upto Rs.15 lakh

    Margin: Up to Rs.4 lakh - No Margin, Over Rs.4 lakh in India - 5% ,Studies Abroad - 15%,(Relaxation of loans upto Rs.50,000/-for SC/ST )

    Rate of interest: Upto Rs.4 lakh - PLR,Above Rs.4 lakh - PLR+ 1%

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    Dena Bank

    Dena Vidya Laxmi Education Loan Scheme

    Courses approved

    a. Studies in India :
    •School education including plus 2 stage.
    •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, IISc, IIT, XLRI NIFT etc.
    •Courses offered in India by reputed foreign universities.
    •Evening courses of approved institiutes.
    •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 institiutions.]

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

    Eligibility: The student should be:
    An Indian National
    Have secured admission to professional/ technical courses through Entrance Test /Selection process.
    Secured admission to foreign university/Institutions.

    Amount of loan: 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 lacs.

    Margin :

    Inland (studies in India)
    Upto Rs. 4 lacs : Nil
    Above Rs. 4 lacs : 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 dibursements are made on a pro-rata basis.

    Rate of Interest :
    Upto Rs.4 lacs : PLR
    Above Rs.4 lacs : PLR + 1%

    Period of loan: 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 extensions 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) is fixed. 1% interest concession may be provided for loanees if interest is serviced during the study period when repayment holiday is specified for Interest/repayment under the scheme.

    PROCESSING CHARGES : No processing/upfront charges are charged by the bank on Educational loans.

    Contact :
    Delhi Tel: 5724837, 5730400
    Bangalore Tel: 6345563
    Chennai Tel: 4310542, 4330438
    Hyderabad Tel: 5505081
    Kolkata Tel: 2472278, 2473860
    Mumbai Tel: 2181231, 2189155

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    Punjab National Bank

    Vidya Lakshyapurti Education Loan Scheme

    Purpose

    PNB's Education Loan Scheme is designed to provide better educational opportunities to bright and needy students and brings within their reach all types of education (general,professional,technical and vocational courses).

    The scheme enables all types of needy students (viz.students of plus 2 stage,graduation courses, post graduation courses, Masters & Ph.Ds, professional, technical , engineering, medical, veternary, law, dental, management, computer, vocational courses, courses like ICWA,CA,CFA, courses conducted by IIM,IIT,IISc,NIFT, courses offered in India by reputed foreign universities and all other types of courses offered by Govt./Semi-Govt/private institutions in order to meet the costs for their studies in India and abroad. Such courses would include regular, part time and correspondence courses. The costs include admission fees, books & stationery, instruments required for the course, monthly fees, examination fees,insurance premium for policy on life of the borrowing student,caution deposit/building fund/refundable deposit supported by bills/receipts, expenses like study tours/project work/thesis etc. required to complete the course, boarding and lodging expenses, and travel expenses/passage money including air fare for joining the course abroad.

    Eligibility

    1) Indian nationals, in the age group of 16-40 years.For part time computer courses, applicants in the age group of 16-45 years are eligible. Applicants whose guardians have been appointed by the court, should not be less than 21 years; such students should have already passed atleast one public examination.

    2) Students who have scored pass marks in their last qualifying examination and have secured admission in the courses mentioned above.

    3) The parents/guardian should have regular source of income to the extent that they are able to repay the loan in case of need/unforeseen circumstances.There is no stipulation of ceiling on annual income of the parents/guardians.

    4) Employed persons intending to better their prospects can also avail loan for improving their educational qualifications and/or receive training in modern technology in India/ abroad provided the education/training received by them in India/abroad affords prospects for their better employment.For such persons, 'NO OBJECTION CERTIFICATE' from their employers is a pre-requisite.

    mount of Loan

    This is co-related to expenses involved in taking up the course and the expected earnings after qualifying, subject to a maximum of:

    For studies in India:             Rs. 7.50 lacs

    For studies abroad               Rs.15.00 lacs

    In case of part time computer courses, the extent of loan should not exceed Rs. 50,000/- per annum or fee fixed by the particular institutution (as per prospectus less concession,if any), whichever is less.

    Rate of Interest

    Loan upto Rs. 4 lac                              12.00% p.a. *
    Loan over Rs. 2 lac upto Rs. 15 lac        13.00% p.a. *
    Loan over Rs. 15 lac                              15% p.a.*
    *This is subject to change from time to time.
    The Interest shall be charged at simple rate from the date of disbursement till the commencement of repayment of loan and thereafter, compound Interest will be charged on reducing balance basis. 1/2% interest concession may be provided for the loanees if the interest is serviced during the study period.

    Margin
    NIL

    Period of loan
    Principal and Interest is repayable in 84 monthly instalments. Repayment will commence after two years of the completion of studies by the borrower or one month after his/her getting employment, whichever is earlier.

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    State Bank of Hyderabad

    Purpose

    For pursuing studies in recognised schools/ colleges/ institutions to meet: - Tution and other fees

    - Maintenance costs, books and equipment etc.

    - Cost of passage (for studies abroad)

    Eligibility

    For School / College indian education.

    a) Minimum second division (Pass marks for SC/ST)

    b) Parents / guardians (Including persons engaged in agriculture / allied activities having independent regular source of income.

    Loan Amount

    (I) School / College indian education: (Upto 6 times the monthly net (take home) income of the parents / guardian. Minimum loan of Rs. 4,000/- Maximum Rs. 1lac.

    (ii) Technical / Professional higher studies in India and Abroad 90% of the cost of study, subject to maximum of Rs. 8lacs.

    Margin
    10%

    Interest Rate

    At competitive rates on reducing balance only. Please check-up for latest rates at your nearest branch Interest is compounded at quarterly basis.

    Period of Loan

    (I) For School / College indian education: Loans to be repaid in a period of 36months, commencing immediately after disbursal, by the parents / guardian.

    (ii) For Technical / Professional higher studies in India and abroad: The loan is to be repaid is 60 months after the completion of the course of securing job, whichever is earlier. Regular periodic repayment as much as possible should be made during the period of study. Quarterly interest should be paid regularly.

    (iii) Permitted without any penalty.

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    State Bank of India

    Purpose
    You can take a loan for pursuing studies in recognised schools/colleges/ institutions to meet:

    Tuition and other fees
    Maintenance costs, books & equipments,etc.
    Cost of passage (for studies abroad)
    Caution fund/building fund/refundable deposit

    Eligibility

    * Should be an India National
    * Secured admission to professional/ technical courses through Entrance Test/ Selection process
    * Secured admission to foreign university/ Institution

    Loan Amount

    Need based finance subject to the 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 lacs

    Margin

    Upto Rs.4 lacs: No margin

    Above Rs.4 lacs
    * Studies in India: 5%
    * Studies Abroad: 15%

    Interest

    Lowest interest rates

    Loan Amount Interest Rate
    Loans upto Rs.4 lacs SBMTLR presently 12.00 %p.a.
    Loans over Rs.4 lacs 1% above SBMTLR presently 13.00 % p.a

    * While interest is not required to be paid during moratorium period, payment of the same before start of repayment would entitle you to concession in interest rate applied during the repayment holiday

    Repayment of loan

    Repayment Holiday - 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

    Prepayments permitted without any penalty

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    Allahabad Bank

    Purpose
    You can avail of the attractive education loan scheme if you have secured admission to or are already studying in any of the country's IIMs or IITs or in any of the designated institutes.

    Eligibility
    You are eligible for the education loan if you fulfill the following criteria: A student who has secured admission or is already studying in any IIM, IIT, Indian Institute of Science, Bangalore, Jamnalal Bajaj Institute of Management, Mumbai, XLRI Jamshedpur, Roorkee Engineering College or Indian School of Mines, Dhanbad.

    Amount of Loan
    The loan will be in the form of a package which will cover entire tuition fees, hostel and mess charges, library fees or any other fees / charges payable to the institution subject to a maximum of Rs 2.50 lacs.

    Period of loans
    Loans repayable In 48 Equated Monthly Installment (EMI).The EMI will commence one year after the completion of the course or whenever is earlier.The interest, however, will be realised during the pendency of the loan on a quarterly basis.

    Loan Amount Interest Rate
    Loans upto Rs.4 lacs (In India) 12.5% pa, SBMTLR presently 12.00 %p.a.
    Loans above Rs 4 lacs 1% above SBMTLR presently 13.5 % p.a
    Tenures: Minimum of 12 months to a maximum of 48 months

    Contact :
    Delhi Tel: 3341152
    Bangalore Tel: 2261599
    Chennai Tel: 8282206, 8230267
    Hyderabad Tel: 7637738
    Kolkata Tel: 2401529
    Mumbai Tel: 4923246

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    Andhra Bank

    Maximum Amount for India : Rs 100000
    Maximum Amount Overseas : Rs 500000
    Documents to be submitted: Bank documents, Academic records

    Interest Rate in India
    Upto 400000 : 12%
    Above Rs 400000 : 13.5% pa.
    Interest Rate for Overseas
    Loans Upto 400000 : 12%
    Above Rs 400000 : 13.5% pa.
    Collateral and Third Party Guarantee are required

    Tenures: Maximum of 5 years

    Eligibility: 1st class marks in previous exams and selected for proffesional course
    Repayment 1 year after completion of course or 3 months after getting a job whichever is earlier.

    When to Apply: After getting Admission in college/institute

    Time taken to process documents: 1 Week

    Contact:
    Delhi Tel: 3350248
    Bangalore Tel: 2242932
    Chennai Tel: 4991868, 4994294
    Hyderabad Tel: 4756023-25
    Kolkata Tel: 2471359
    Mumbai Tel: 2046160, 204762

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    Karnataka Bank

    Eligibility: Admission approval with previous satisfactory academic record.

    Maximum Amount for India : Rs 800000
    Maximum Amount Overseas : Rs 1000000

    Documents to be submitted : Previous academic record and admission approval.

    Time To Process: Nearly a Month

    Interest Rate
    In India:
    Upto Rs 200000 : 13.5% pa
    Above 200000 : 15.5% pa
    For Overseas
    Upto Rs 200000 : 13.5% pa
    Above 200000: 15.5% pa
    Collateral and Third party Guarantee required.

    Tenures: Eight Years

    Repayment: At the end of completion of the course.

    Contact :
    Delhi Tel: 3341426, 3360872
    Bangalore Tel: 3350525
    Chennai Tel: 5342459, 5342092
    Hyderabad Tel: 3202102, 3201029
    Kolkata Tel: 2472181, 2475737
    Mumbai Tel: 2663725, 2663256

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    Bank of Baroda

    Period of loans: 5 years

    Purpose: Tuition feesLibrary/Other institution charges Hostel/Mess charges Travel expenses abroad (one way only)

    Amount of loan: For studies in India: Rs. 550,000
    For studies abroad: Rs.1.5 million

    Interest rate: Depending on the loan amount with maximum of 13.77%

    Margin Required: Maximum 15%, depending on the loan amount. 20% of the loan amount in case of abroad studies

    Period of loan: The loans are to be repaid starting from 6 months after course completion or 1 year after getting a job

    Contact :
    Delhi Tel: 3321562,3325147
    Bangalore Tel: '5586137, 5595347
    Chennai Tel: '8283652
    Hyderabad Tel: '3237760, 3230450, 3230368
    Kolkata Tel: '4754047
    Mumbai Tel: 2656727

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    Development Credit Bank Ltd.

    Eligibility :Repayment 6 months after completion of course

    Maximum Amount for India : Rs 500000
    Maximum Amount Overseas : 75 % of the course fee.

    Documents to be submitted : Marks list, Income proof of guardian, evidence for selection to the courses, copy of ration card, details of admissible expenses.

    Time To Process: 1 Week

    Interest Rate
    In India
    Upto Rs200000 : 13.5%
    Above Rs200000 : 15.5 %
    For Overseas
    Upto Rs 200000 : 13.5% ,
    Above Rs 200000 : 15.5 %
    Collateral and Third Party Guarantee required.

    Tenures : 3 to 5 years in India and maximum 4 years abroad.

    Contact :
    Delhi Tel: 3312675, 3321326
    Bangalore Tel: 5595071
    Chennai Tel: 8312267-70
    Hyderabad Tel: 3202191, 3205764
    Mumbai Tel: 2872465

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    Bank of Rajasthan

    Eligibility: Good academic records and selection for the course

    Maximum Amount for India : Rs 150000
    Maximum Amount Overseas : Rs 300000

    Documents to be submitted: Mark sheet, proof of admission, proof of cost of course
    Time To Process: A Forthnight

    Interest Rate

    In India
    Upto Rs 25000: 12.75%
    From Rs 25000 to Rs 200000 : 14%
    Above Rs 200000 : 16%.

    For Overseas
    Upto Rs 25000 : 12.75%
    From Rs 25000 to Rs 200000 : 14%
    Above Rs 200000 : 16%.

    Tenures: Till completion of course

    Repayment: 3 to 5 years or earlier.

    Contact
    Delhi Tel: 5712934, 5729817
    Bangalore Tel: 2265436, 2260540
    Chennai Tel: 5383416
    Hyderabad Tel: 4705920, 4743684
    Kolkata Tel: 2201892, 2207912
    Mumbai Tel: 2870307

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    Bank of Maharastra

    Eligibility: Should have secure admission for in School/College/Institute

    Maximum Amount for India : Rs 200000
    Maximum Amount Overseas : Rs 750000

    Documents to be submitted: Pass Certificate of Previous School/University/Institute
    Time To Process : A Fortnight

    Interest Rate

    India: 13.75%
    Overseas: 13.75%
    Collateral and Third Party Guarantee required

    Tenures: Maximum of 5 years

    Contact :
    Delhi Tel: 3321754
    Bangalore Tel: 2264997
    Chennai Tel: 4364410
    Hyderabad Tel: 7843238
    Kolkata Tel: 2203996, 2207122
    Mumbai Tel: 2661295, 2652595

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    Indian Overseas Bank

    Eligibility: Should have a good academic record.

    Maximum Amount for India : Rs 200000
    Maximum Amount Overseas : Rs 600000

    Documents to be submitted : Mark sheets,addmission approval,address proof,photgraph,income proof .

    Time To Process: 1 Week

    Interest Rate
    In India
    Upto Rs 400000 : 12% pa
    Above Rs 400000 : 13% pa.
    For Overseas
    Upto Rs 400000 : 12% pa
    above Rs 400000 : 13% pa.
    Collateral and Third Party guarantee required.

    Tenures : Maximum of five years

    Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

    Contact :
    Delhi Tel: 3362003
    Bangalore Tel: 2266207
    Chennai Tel: 8524142
    Hyderabad Tel: 4755324
    Kolkata Tel: 2299700
    Mumbai Tel: 218222

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    HDFC Education Loans

    Purpose: HDFC gives loans to students to partly meet their educational expenses / costs for pursuing specific higher educational courses at institutes approved by HDFC. Loans are given to students who are citizens of India. The student should have a consistently good academic record, and admission to an approved Educational Institute for pursuing a recognized course.

    Eligibility: Students enrolled with an approved Educational Institute and desirous of availing the education loan can make an application, with the earning parent / guardian being the co-applicant to the loan. Currently, new entrants and existing students of only select leading national educational institutions are eligible to apply for education loans. Please check with your nearest HDFC Office for the list of approved institutions.

    Amount of loan: Loans can be availed upto a maximum of 90% of the total cost as determined by HDFC. The costs would generally cover expenses incurred towards the course fee, library charges, hostel and mess charges, cost of books and equipment. HDFC lends upto a maximum of Rs. 2,00,000 on an Education Loan.

    The period of the loan is determined on the merits of each case but would not exceed 5 years. The repayment can be accelerated on completion of the course, considering the earning capacity of the student. HDFC's main concern is to help individuals comfortably repay the borrowed amount.

    Rate of interest

    Loan Amount (Rs.)
    Rate of Interest - % p.a.
    Upto 2,00,000
    14.0

    Contact :
    Delhi Tel: 6103146, 6185944
    Bangalore Tel: 2274600, 2219473
    Chennai Tel: 8553838
    Hyderabad Tel: 3233875
    Kolkata Tel: 2478256
    Mumbai Tel: 2820282

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    UCO Bank Educational Loan

    Purpose: The scheme extends a helping hand to a meritorious student desirous of pursuing higher studies either in India or abroad.

    Courses approved
    Studies in India

    • Graduation Courses in recognised universities leading to degrees like B.A., B.Sc, B.Com, B.Tech, B.E., MBBS etc.
    • Diploma/Certificate courses from recognised universities or Govt. recognised institutes in disciplines of Engineering, Medicine, Agriculture, Computer, Tourism, Hotel Management and such other technical/professional courses.
    • Chartered Accountancy and Cost & Work Accountancy from the Institute of Chartered Accountants of India and Institute of Cost & Works Accountants of India respectively.
      Post Graduate Courses leading to degrees like M.A., M.Sc., M.E., M.Tech, MBA, M.S. M.D. etc.
    • Post Graduate Research studies in Pure & Applied Sciences, Economics and other Social Sciences etc. in a recognised university leading to Doctoral Degree.

    Studies Abroad
    Full time Post Graduate or Doctoral Programmes in Engineering, Medicine, Technology (Pure & Applied Sciences), Agriculture, Computer Science, Business Administration, Economics and other Social Sciences.

    Amount of loan
    Actual Loan Amount will be determined as per requirements of the student subject to maximum of Rs.4 lakh. The loan amount under the scheme would consider meeting the following expenses:

    •Course Fees
    •Hostel/Boarding Fees
    •Cost of Books/Journals
    •Stationery & Equipment required for the course
    •Examination Fees
    •In addition to above, for studies abroad, cost of air passage may be considered if requested by the student.

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    IDBI Money Scholar

    Purpose
    IDBI has structured a loan facility for Professional / Management / Foreign University education.

    Courses approved
    Indian Universities

    For Professional Courses i.e. B.E., B.Tech., M.B.B.S. Post Graduate Courses i.e. M.E., M.Tech., M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTEFor part time / on-line distance learning courses (subject to terms & conditions)

    Foreign Universities
    For Graduate/Post Graduate/Research/Doctorate studies that insist on TOEFL, GRE, GMAT scores.

    Eligibility
    Indian Universities
    For Graduate courses : at least 75% in the +2 stage.
    For Post Graduate Courses : first class graduates.

    Foreign Universities
    Proof of TOEFL, GMAT, GRE score card, and 1-20 admit card.

    Age of the applicant should not be more than 30 years for Indian Universities and 35 for Foreign Universities. Age of the parent / Guarantors should be below 55 Years. The annual income of the family should not be less than Rs. 3 lakhs.

    Amount of loan
    For Indian Universities, actual tuition and other fees, but not exceeding Rs. 5 Lakh for the entire duration of the course.

    For Foreign Universities, considering that in addition to fees, there are travel / preparatory expenses, the loan amount shall not exceed Rs. 15 Lakh, in all.

    Interest rates
    •Long term Prime Lending Rate + 1% p.a. + taxes
    •Processing Fees: Rs. 1000 at application, and Rs. 500 p.a. thereafter
    •Cost of documentation / legal expenses at actuals

    Period of loans

    •Graduate Studies: Maximum moratorium period of 5 years including the actual duration of the course. After which the loan should be repaid within the next 3 years.
    •Post Graduate Studies: Moratorium period of 2 years i.e. the course duration. Loan repayment within the next 3 years.
    •No prepayment penalties levied
    •In fact, there are incentives for prompt repayment. Like refund of the entire processing fee, if not a single installment is missed/delayed.

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    Vijaya Bank Education Loans

    Eligibility: For studies in IndiaA student of Indian Nationality is eligible to apply for the loan provided he/she has secured admission to the institution/college/university.

    Approved courses: Full time courses (Diploma, Teachers' Training, graduation or Post graduation and Doctorate studies) in all branches of medicine, engineering, agriculture, CA/ICWA/ACS, Computer Science, Architecture, Business Administration, Law, Arts, Science, Commerce, Hotel Management, Nursing and Pharmacy (except Foreign University Degree courses offered in India)

    Amount of loan: The bank provides a loan of Rs.10000/- for a student's education at a junior college; teacher's training course and other short-term courses that are approved by the Government.Loans worth Rs.50000/- are also offered to students who wish to do a polytechnic course/computer course, or desire to pursue graduation/post-graduation in any discipline, such as arts, commerce, science, pharmacy, agriculture & fisheries.A maximum amount of Rs.4 lakhs for graduation/post-graduation in engineering, architecture, dental science, medicine, chartered/cost accountancy & business administration courses, offered by a reputed institution.

    Margin: No margin for loans up to and inclusive of Rs.25000/- and a minimum margin of 25% for loans above Rs.25000/-

    Repayment: Repayment of the loan commences from the 6th month after the student completes his/her course or the 3rd month of securing a job, whichever is earlier. The loan is to be repaid within a maximum period of 6 months depending upon the repayment capacity.

    For studies abroad :
    Eligibility:
    Meritorious students who have been selected for any course in foreign universities are eligible to avail of the foreign education loans.

    Amount of loan: The bank provides Rs. 10,00,000/- as a loan for his/her education at a foreign university.

    Margin: 25% (To be brought pro rata as and when disbursements are made)

    Period of loan: The loan is repayable in 60 monthly installments. Repayment of the loan is to commence 6 months after the student completes the course or completion of 3rd month after securing a job, whichever is earlier.

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    Catholic Syrian Bank

    Eligibility: Minimum age 21 years having 60% marks throughout and have admission approval.

    Maximum Amount for India : Rs 500000
    Maximum Amount Overseas : Rs 500000

    Documents to be submitted : Academic Records and admission approval.
    Time To Process: 1 Week

    Interest Rate
    In India
    Upto Rs 200000 : 14% pa,
    Above Rs 200000 : 16% pa.
    For Overseas
    Upto Rs 200000 : 14% pa,
    Above Rs 200000 : 16% pa.
    Collateral needed if loan is above Rs 25000
    Third Party Guarantee is also required.

    Age : Between 21 years to 65 years.
    Tenures: Maximum 40 months
    Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

    Contact
    Delhi Tel: 3715951, 3328747
    Bangalore Tel: 8462878
    Chennai Tel: 8526397, 8520125
    Hyderabad Tel: 3203112, 3202985
    Kolkata Tel: 2381455, 2482713
    Mumbai Tel: 2660239, 2665641

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    Indian Bank

    For Studies in India - Scheme Highlights
    Purpose: To meet the cost of education covering tuition fees, Exam fees, Development fees, Hostel fees, books, instruments etc.

    Approved courses: Computer Courses:Part-time/Full-time in Institutes approved by Government of India (Department of Electronics)
    Duration of the course: Minimum - 12 monthsMaximum - 48 months

    Amount of loan: For Computer Courses: Maximum : Rs.1.00 lac
    For other professional courses:Maximum : Rs.3.50 lacs

    Margin: Upto Rs.2.00 lacs : 10%Upto Rs.3.50 lacs : 15%

    Rate of Interest: Upto Rs.2.00 lacs : 12%Above Rs.2.00 lacs upto Rs.3.50 lacs : PLR +1% (i.e. 13.5%)

    Period of loan: Initial holiday period of 6 months after the completion of the course or immediately on getting a job whichever is earlier
    For limits upto Rs.1.00 lac : 42 monthsFor limits upto Rs.3.40 lacs : 60 months

    For Studies Abroad - Scheme Highlights

    Course of Study: Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years

    Amount of Loan: Maximum - Rs.10.00 lacs

    Margin: Upto Rs.5.00 lacs : 15%Above Rs.5.00 lacs : 25%

    Rate of Interest: PLR + 1.5% (i.e. 14%)

    Period of loan: Interest to be serviced every quarter. Repayment of principal to commence 6 months after the completion of the course or immediately on getting a job whichever is earlier.For limits upto Rs.10.00 lacs - Maximum 96 months

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    Federal Bank Ltd.

    Federal Vidya Loan Scheme

    Purpose: The purpose of the loan is to make available financial assistance to the needy and deserving students of bright academic record so as to enable them to continue higher studies in India or Abroad either in diploma/graduation or post-graduation level in Arts, Science, Commerce, Management, Medicine and Engineering.

    Eligibility: Under this scheme the loan can be sanctioned to any student of Indian nationality who intends to join any of the approved courses in an Educational Institution recognised by the government or any University in India or Abroad.

    Courses Approved:
    A - Category:- Academic courses such as Diploma, Graduate/Post-Graduate courses in Arts, Science and Commerce etc.,
    B - Category:- Professional courses such as Diploma, Graduate/Post-Graduate courses in Engineering, Medicine, Dental Science, Agricultural Science, Veterinary Science, Computer Science, Nursing, Pharmacy, Business administration, Law etc.,

    Type of Loan:
    The loan account shall be operated as a term loan. To facilitate flexibility in operation, future debits on account of recurring expenses in each semester/year can be made to this account.

    Margin:
    The margin is NIL for courses in India. For foreign studies a minimum margin of 10% is to be insisted on.

    Amount of Loan:
    (Rs in Lakhs)

    Place of studies

    Minimum

    Maximum

    In India

    0.50

    5.00

    Abroad

    0.50

    10.00

    Rate of Interest:

    Upto Rs.5 lakhs

    13.5 %

    Above Rs.5 lakhs

    14.5 %

    Period of Loan:
    The period of the loan consists of the period required for the completion of the course and that meant for repayment of the loan. The repayment should begin within 12 months on the completion of the course or after the student secures employment whichever is earlier.

    Maximum period of the loan

    11 Years

    Minimum period

    3 Years

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    Oriental Bank of Commerce

    Eligibility: Must have obtained admission in a reputed institute in india or abroad. Repayment : After completion of course

    Maximum Amount for India: Rs 750000
    Maximum Amount Overseas : Rs 1500000

    Documents to be submitted : Admission slip, residence proof, age proof, letter from institute

    Time To Process: A Fortnight

    Interest Rate
    In India
    Upto Rs 400000 : 11.5%
    Above Rs 400000 : 12.5%
    For Overseas
    Upto Rs 400000 : 11.5%
    Above Rs 400000 : 12.5%
    Collateral and Third Party Guarantee required.

    Tenures: Maximum of Seven Years

    Contact:
    Delhi Tel: 3316777
    Bangalore Tel: 2219762, 2219767
    Chennai Tel: 8522940, 8550068
    Hyderabad Tel: 3201803, 3201298
    Kolkata Tel: 2821514, 2294823
    Mumbai Tel: 2189286

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    Mysore Bank

    MYSORE BANK PROFESSIONAL COURSE SCHEME FOR DOCTORS

    SBM, Founded by Sir.M.Visweahwaraya, has framed a scheme for the Professional in the field of medicine for pursuing higher studies in recognized university / institutions in India/Abroad.

    To Meet:
    (i). Tuition and other fees.
    (ii).Maintainance Cost / Hostel Fees
    (iii).Cost of Books and Equipment.
    (iv). Cost of Passage ( for studies abroad)

    Pre Requisite :
    (i). Admission offer from any Recognized University.
    (ii).Details of income of Parent / Guardian.

    Margin: 10% of the total cost.

    Interest: Compounded at quarterly intervals on reducing balance.

    Repayment: The loan to be repaid in 48 months installments after completion of the course or securing a Job whichever earlier.

    Security: Security consisting of any of the following :

    Government securities, UTI Bonds, NSC's, LIC Policies, Bank Deposits of equitable Mortgage of immovable property. Third party guarantee, if is insufficient.

    For further details Contact :

    STATE BANK OF MYSORE - Zonal office your nearest branch of SBM.

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    Syndicate Bank

    Pre Requisites : The candidate should submit the proof of the admissions and the fee structure with the necessary credential of the college.

    Eligibility: The Candidate of the candidate's guardian should hold an account in the bank. The candidate should be from the same place as the bank to avail the loan otherwise has to open an account in the bank of his choice and avail loan 6 months hence.

    Interest: 14.5%

    Coverage: Tuition fee.

    Payment: The loan will be due to the bank till the end of the course of the candidate of till the candidate is employed ; whichever is earlier. The interest amount in the meanwhile should be paid back either by the candidate himself or by his guardian.

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    Canara Bank

    Education Loan Scheme

    Offered for India at Undergraduate, Postgraduate for the duration of the course; not renewable. Subject: Unrestricted. (Only technical courses for which Reserve Bank of India clearance is available.

    Eligibility: Open to applicants who have 60% minimum marks in basic qualification and who have confirmed admission in a university in the UK. Interview is required. For bans up to and inclusive of Rs. 1,00,000, co-obligation from suitable person is required. For loans beyond Rs. 1,00,000, collateral security of property or other approved securities whose value is equal to the loan amount is required.

    Value: 75% of the requirements of the course (maximum Rs. 10,00,000 for entire course), covering airfares, fees and maintenance.

    Whom to contact: Further information and application form can be had from Canara Bank, Head Office, Priority Credit Section; Credit Wing, 112 J C Road, Bangalore 560002, or any other branch of Canara Bank.

    Contact
    Delhi Tel: 6286087
    Bangalore Tel: '5589502
    Chennai Tel: '8524790
    Hyderabad Tel: 3225324,3220607
    Kolkata Tel: '2474881
    Mumbai 2185241

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    Punjab and Sind Bank

    Maximum Amount for India : Rs 500000
    Maximum Amount Overseas: Rs 500000

    Documents to be submitted: Admission form, document proof of eligibility, expenditure Time To Process: A Fortnight

    Interest Rate
    In India
    Upto Rs 200000 : 12%
    Above 200000 : 13.5%
    For Overseas
    Upto Rs 200000 : 12%
    Above 200000 : 13.5%
    Collateral and Third Party Guarantee required.

    Tenures: Maximum of 6 years

    Repayment : Interest with course period after that maximum of 72 EMI

    Contact:
    Delhi Tel: 5720849
    Bangalore Tel: 2267476
    Chennai Tel: 8522888
    Hyderaba Tel: 4650771, 4650773
    Kolkata Tel: 2484309
    Mumbai Tel: 2651039

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    State Bank Of Indore

    Eligibility: Should have first class marks and have received admission. Repayment After completion of course.

    Maximum Amount for India : Rs 400000
    Maximum Amount Overseas: Rs 400000

    Documents to be submitted: Mark Sheet and should have received admmission.

    Time To Process: One and a half Months

    Interest Rate
    In India
    Upto Rs 200000 : 12% pa,
    Above Rs 200000 : 13.5% pa.
    For Overseas
    Upto Rs 200000 : 12% pa
    Above Rs 200000 : 13.5% pa.
    Third Party Guarantee required.

    Age: Should be above 21 years of age.
    Tenures: Maximum 5 years

    Contact:
    Delhi Tel: 5816062, 5749413
    Bangalore Tel: 6708878, 6703717
    Chennai Tel: 5383109,5387441
    Hyderabad Tel: 4754603, 4754898
    Kolkata Tel: 2103209
    Mumbai Tel: 2073890

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    State Bank of Mysore

    Eligibility: Admission approval

    Maximum Amount for India : Rs 1000000
    Maximum Amount Overseas : Rs 1000000

    Documents to be submitted: Previous academic records,addmission approval, address proof,income proof,introduction.
    Time To Process: A Forthnight

    Interest Rate
    In India
    Upto Rs 400000 : 12.5%
    Above Rs 400000 : 13.5%
    For Overseas
    Upto Rs 400000 : 12.5%
    Above Rs 400000 : 13.5%
    Collateral and Third Party Guarantee required.

    Tenures: Maximum of 4 years
    Repayment: Upto 16 months after completion of course.

    Contact:
    Delhi Tel: 5728842, 5729585
    Bangalore Tel: 6631958
    Chennai Tel: 5340902
    Hyderabad Tel: 3203451
    Kolkata Tel: 2200991
    Mumbai Tel: 2856289, 2856391

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    State Bank of Travancore

    Eligibility: Admission approval

    Maximum Amount for India: Rs 100000
    Maximum Amount Overseas: Rs 1000000

    Documents to be submitted : Previous academic record and admission approval, fathers income tax receipt and introduction.
    Time To Process: 1 Week

    Interest Rate
    In India
    Upto Rs 400000 :12.5%
    Above Rs 400000 : 13.5%
    Collateral and Third Party Guarantee required.

    Tenures: Three Years in India
    Repayment: At the end of completion of the course.

    Contact:
    Delhi Tel: 5761044, 5749648
    Bangalore Tel: 6709370, 6702833
    Chennai Tel: 4349010, 4348979
    Hyderabad Tel: 4743819, 4742960
    Kolkata Tel: 2266756
    Mumbai Tel: 2674329, 2670619

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    United Western Bank

    Eligibility: Should have a good academic record.

    Maximum Amount for India : Rs 750000
    Maximum Amount Overseas: Rs 1500000

    Documents to be submitted : Academic Records and admission approval.
    Time To Process: A Fortnight

    Interest Rate
    In India
    Upto 400000 : 13%
    Above 400000 : 13.5% pa.
    For Overseas
    Upto 400000 it is 13%
    Above 400000 : 13.5% pa.
    Collateral and Third Party Guarantee required.

    Tenures: Maximum 7 years
    Repayment : After completion of course

    Contact:
    Delhi Tel: 5725701
    Bangalore Tel: 2251416
    Chennai Tel: 5245070
    Hyderabad Tel: 4657515, 4653064
    Mumbai Tel: 5220700, 5226465

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    Vysya Bank

    Eligibility: Admission approval

    Maximum Amount for India: Rs 750000
    Maximum Amount Overseas: Rs 1500000

    Documents to be submitted: Previous academic records,addmission approval, address proof,income proof,introduction.
    Time To Process :2 Weeks

    Interest Rate
    In India - 16.5%
    For Overseas - 16.5%

    Tenures:On Course length.
    Repayment: After completion of course

    Contact :
    Delhi Tel: 3329212
    Bangalore Tel: 2235189, 2230511
    Chennai Tel: 8522244
    Hyderabad Tel: 4753725, 4750798
    Kolkata Tel: 2425440, 2423509
    Mumbai Tel: 2882666, 2884247

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    State Bank Of Saurashtra

    Eligibility: Graduation with 65% marks

    Maximum Amount for India: Rs 750000
    Maximum Amount Overseas: Rs 1500000

    Documents to be submitted: Guaranty of father property's papers
    Time To Process: 1 month

    Interest Rate
    In India
    Upto Rs 25000 : 12%
    From Rs 25000 to Rs 200000 : Rs 12.25%
    Above Rs 200000 : 14.50%
    For Overseas
    Upto Rs 25000 : 12%
    From Rs 25000 to Rs 200000 is Rs 12.25%
    Collateral and Third Party Guarantee required.

    Repayment: After employment

    Contact:
    Delhi Tel: 6236549
    Bangalore Tel: 2221878
    Chennai Tel: 5341780
    Hyderabad Tel: 3201990, 3203036
    Kolkata Tel: 2101092
    Mumbai Tel: 2613976

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    United Bank Of India

    Maximum Amount for India : Rs 1500000
    Maximum Amount Overseas: Rs 1500000

    Documents to be submitted: Letter of authorisation from university, Copy of Passport & Visa, Salary slip,
    Time To Process: 1 Week

    Interest Rate
    In India
    Upto Rs 200000 : 12%
    Above Rs 200000 : 15.5%
    For Overseas
    Upto Rs 200000 : 12%
    Third Party Guarantee required.

    Tenures: 3 to 5 Years
    Repayment: 6 months after completion of course

    Contact:
    Delhi Tel: 3360661, 3363416
    Bangalore Tel: 5582179
    Chennai Tel: 4941834
    Hyderabad Tel: 4756994
    Kolkata Tel: 2487470-72
    Mumbai Tel: 2871261-62

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