Student Loan

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

Features

• Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*
• Processing Charges
  • Loans upto Rs. 20 lacs : NIL
  • Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes)
• Security
  • Upto Rs. 7.5 Lacs:Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
  • Above Rs. 7.5 Lacs:Parent/ Guardian as co-borrower and tangible collateral security
• Margin
  • Up to Rs 4 Lacs - Nil
  • Above Rs 4 Lacs - 5% for studies in India, 15% for studies in abroad
• Repayment will commence one year after completion of course.
• Loan to be repaid in 15 years after the commencement of repayment
• In case second loan is availed for higher studies later, to repay the combined loan amount in 15 years after completion of second course
• EMI Generation
  • The accrued interest during the moratorium period and course period is added to the principle and repayment is fixed in Equated Monthly Installments (EMI).
  • If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only.