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Indian Bank Education Loan

Indian Bank Education Loan details:

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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{ 3 comments… read them below or add one }

Sudhir Ainapur
N.Venkatesan March 19, 2008 at 8:09 am

sir,
i m venkatesan studying M.E(cse) in Sastha Engineering College, chennai (ANNA UNIVERSITY). so i want to education loan only Rs. 50,000 (Fifty thousands only).i ll return the money with in 2 years

N.Venkatesan March 19, 2008 at 8:05 am

i m venkatesan studying M.E(cse) in Sastha Engineering College, chennai (ANNA UNIVERSITY). so i want to education loan only Rs. 50,000 (Fifty thousands only).i ll return the money with in 2 years

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