TMB - Education Loan (In line with IBA Guidelines)

Should be an Indian National.

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).

In case of some of the Post Graduate Courses or Research Programmes the criteria are based on employability and reputation of the Institution Concerned.

All Type of Fund Based & Non-Fund Based Limits

  • Studies in India - Maximum Rs. 10.00 Lakh
  • Studies Abroad - Maximum Rs.20.00 Lakh
  • As per Ministry Guidelines, for Padho Pardesh Interest subsidy Scheme, all the loans sanctioned from 01-04-2021, students have to register themselves in the Padho Pardesh Student portal to monitor their claim proceeds at the following link:
  • Studies in India
  • Approved courses leading to Graduate / Post Graduate Degree and PG Diploma conducted by recognised Colleges/ Universities recognised by UGC / Government / AICTE / AIBMS / ICMR etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, 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.

Margin :

  • Upto Rs.4.00 lakh - Nil
  • Above Rs.4.00 lakh - Study in India – 5%
  • Study in Abroad – 15%%
  • However, upto Rs. 7.5 lakh, margin will be ‘Nil”, if loan is eligible under Credit Guarantee Scheme.

Repayment :

  • Course Period + 1 Year or 6 months after getting job whichever is earlier.
  • Maximum Repayment Period of Loan:
    • For Loans upto Rs.7.5 lakh - Upto 15 Years.
    • For Loans above Rs.7.5 lakh - Upto 15 Years.

Security :

  • Up to Rs.7.50 lakh _ No Security_ Parents to be joint borrower(s). Loans up to Rs. 7.50 lakh to be covered under CGFSEL. Above Rs.7.50 lakh: Co-obligation of Parent(s) together with 100% tangible Collateral Security

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.