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
- 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.