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    TMB - Education Loan (In line with IBA Guidelines)

    Should be an Indian National.

    Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).

    For studies abroad, sanctioning authority may at their discretion consider granting loans on the basis of invite / conditional offer letter, if demanded by the Educational Institution.

    All Type of Fund Based & Non-Fund Based Limits

    • Studies in India - Maximum Rs. 10.00 Lakh
    • Studies Abroad - Maximum Rs.20.00 Lakh
      (Higher quantum of loan on course to course basis e.g. courses in IIMS, ISB etc may be considered. Even loans in excess of Rs.10.00 Lakh for studies in India qualifies for interest subsidy under central sector interest subsidy scheme upto Rs.10.00 Lakh).
    • A. Studies in India
    • Courses as initiated under various Government Subsidy Schemes
    • Approved courses leading to graduate / post graduate degree and PG diplomas conducted by recognized colleges / universities recognized by UGC / Government / AICTE / AIBMS /ICMR etc.
    • Courses like ICWA, CA, CFA etc.,
    • Courses conducted by IIMs, IITs, IISC, XLRI, NIFT etc.
    • Regular Degree / Diploma courses like Aeronautical, pilot training, shipping, nursing or any other discipline approved by Director General of Civil Aviation / Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
    • Approved Courses offered in India by Reputed Foreign universities.
  • Courses as defined under various Government Subsidy Schemes.
  • Graduation: For Job oriented Professional / Technical courses offered by reputed universities.
  • Post-Graduation: MCA, MBA, MS etc.
  • Courses conducted by CIMA-London, CPA in USA etc
  • Degree/Diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/ abroad for the purpose of employment in India / Abroad.
  • Margin :

    • Upto Rs.4.00 lakh - Nil
    • Above Rs.4.00 lakh - Study in India – 5%
    • Study in Abroad – 20%
    • However, upto Rs. 7.5 lakh, margin will be ‘Nil”, if loan is eligible under Credit Guarantee Scheme.

    Repayment :

    • Course Period + 1 Year after getting job whichever is earlier.
    • Maximum Repayment Period of Loan; Equated monthly instalments for a period of 15 years for all categories (excluding course and moratorium period).

    Security :

    • Upto Rs.4 lakhs - No security Parent(s)/guardian(s) to be joint borrower(s). Above Rs.4 lakh and upto Rs.7.50 lakh - Parent(s) / guardian(s) to be joint borrower(s) along with suitable third-party guarantee.

    Interest :

    Fees & Charges

    • 1% of the Loan Limit Sanctioned without any maximum cap for studies in abroad. No Processing / Upfront Charges for Studies in India