Vidya Vardhini Scheme

Purpose:
Pursuit of studies In India and abroad

Approved Courses:
Graduate and post-graduate courses in engineering,computertechnology, medicine etc.All vocational courses/job oriented diploma courses, recognised by govt and universities.Similar courses pursued in universities abroad. Full time post graduate research in any of the aforesaid subjects.

Eligibility:
Should be a citzen of India. For vocational training courses and job oriented course age of the individual should be between 15-28 years,and 18-30 in case of post graduate courses and/or studies abroad.The applicant should have a good academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the specific entrance examinations. The applicant should have secured a minimum of 50% marks in the major subject.In case of SC/STcandidates eligibility norms may be relaxed.

Amount of loan:
The loan could vary depending on the specific subject requirement.For studies abroad Rs15 lakhs.For studies in India Rs 7.5lakhs

Margin
Upto Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%

Repayment
Within 15 years from the first date of disbursement, including moratorium period

Contact :
Delhi Tel: 3312654, 3311557
Bangalore Tel: 2212485, 2271130
Chennai Tel: 8270041, 8276143
Hyderabad Tel: 3315263, 3324487
Kolkata Tel: 2481973, 2485703
Mumbai Tel: 2023020

Finance for Education

Cent Vidyarthi Scheme

Purpose: Aims at bringing Education within the reach of students and help them improve their prospects in life.

Courses Approved

For pursuing Graduate/Post-Graduate, Management/Job-oriented courses, Professional Courses of recognised Universities / reputed Institutes, Computer courses conducted by NIIT, APTECH, CMC, C-DAC with duration of one year and more.

For pursuing Post-Graduate course in Science, Technology, Medicine, Engineering, Management courses, Law, Accountancy leading to Master's degree or Post-Graduate Diploma in recognised University abroad.

Eligibility: Should have consistent good academic record in previous examinations with marks over 60 % in 10th.& 12th or first grade in other cases.
(For SC/ST Second class will be sufficient).

Amount of Loan: India Upto Rs.7.50 lakh,Abroad Upto Rs.15 lakh

Margin: Up to Rs.4 lakh - No Margin, Over Rs.4 lakh in India - 5% ,Studies Abroad - 15%,(Relaxation of loans upto Rs.50,000/-for SC/ST )

Rate of interest: Upto Rs.4 lakh - PLR,Above Rs.4 lakh - PLR+ 1%

Dena Vidya Laxmi Education Loan Scheme

Courses approved

a. Studies in India :
School education including plus 2 stage.
Graduation courses : BA, B.COM., B.Sc.,etc.
Post Graduation courses : Masters & PhD.
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA etc
Courses conducted by IIM, IISc, IIT, XLRI NIFT etc.
Courses offered in India by reputed foreign universities.
Evening courses of approved institiutes.
Other courses leading to diploma/ degree etc. conducted by colleges Universities approved by UGC/ Govt/AICTE/ AIBMS/ICMR etc.
Courses offered by National Institutes and other reputed private institutions. [Banks may have the system of appraising other institution courses depending on future prospects/recognition by user institiutions.]

b. Studies abroad :
Graduation: For job oriented professional technical courses offered by reputed universities.
Post graduation: MCA, MBA, MS, etc.
Courses conducted by CIMA- Loanon, CPA in USA etc.

Eligibility: The student should be:
An Indian National
Have secured admission to professional/ technical courses through Entrance Test /Selection process.
Secured admission to foreign university/Institutions.

Amount of loan: Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings.
Studies in India - Maximum Rs.7.50 lacs.
Studies abroad - Maximum Rs.15 lacs.

Margin :

Inland (studies in India)
Upto Rs. 4 lacs : Nil
Above Rs. 4 lacs : Studies in India : 5%

Studies Abroad : 15% Scholarship/assistantship to be included in margin.
Margin may be brought in on year-to-year basis as and when dibursements are made on a pro-rata basis.

Rate of Interest :
Upto Rs.4 lacs : PLR
Above Rs.4 lacs : PLR + 1%

Period of loan: Repayment holiday/ Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, Sanctioning Authority may, at his discretion, consider such extensions as may be deemed necessary to complete the course.

The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments(EMI) is fixed. 1% interest concession may be provided for loanees if interest is serviced during the study period when repayment holiday is specified for Interest/repayment under the scheme.

PROCESSING CHARGES : No processing/upfront charges are charged by the bank on Educational loans.

Contact :
Delhi Tel: 5724837, 5730400
Bangalore Tel: 6345563
Chennai Tel: 4310542, 4330438
Hyderabad Tel: 5505081
Kolkata Tel: 2472278, 2473860
Mumbai Tel: 2181231, 2189155

Vidya Lakshyapurti Education Loan Scheme

Purpose

PNB's Education Loan Scheme is designed to provide better educational opportunities to bright and needy students and brings within their reach all types of education (general,professional,technical and vocational courses).

The scheme enables all types of needy students (viz.students of plus 2 stage,graduation courses, post graduation courses, Masters & Ph.Ds, professional, technical , engineering, medical, veternary, law, dental, management, computer, vocational courses, courses like ICWA,CA,CFA, courses conducted by IIM,IIT,IISc,NIFT, courses offered in India by reputed foreign universities and all other types of courses offered by Govt./Semi-Govt/private institutions in order to meet the costs for their studies in India and abroad. Such courses would include regular, part time and correspondence courses. The costs include admission fees, books & stationery, instruments required for the course, monthly fees, examination fees,insurance premium for policy on life of the borrowing student,caution deposit/building fund/refundable deposit supported by bills/receipts, expenses like study tours/project work/thesis etc. required to complete the course, boarding and lodging expenses, and travel expenses/passage money including air fare for joining the course abroad.

Eligibility

1) Indian nationals, in the age group of 16-40 years.For part time computer courses, applicants in the age group of 16-45 years are eligible. Applicants whose guardians have been appointed by the court, should not be less than 21 years; such students should have already passed atleast one public examination.

2) Students who have scored pass marks in their last qualifying examination and have secured admission in the courses mentioned above.

3) The parents/guardian should have regular source of income to the extent that they are able to repay the loan in case of need/unforeseen circumstances.There is no stipulation of ceiling on annual income of the parents/guardians.

4) Employed persons intending to better their prospects can also avail loan for improving their educational qualifications and/or receive training in modern technology in India/ abroad provided the education/training received by them in India/abroad affords prospects for their better employment.For such persons, 'NO OBJECTION CERTIFICATE' from their employers is a pre-requisite.

mount of Loan

This is co-related to expenses involved in taking up the course and the expected earnings after qualifying, subject to a maximum of:

For studies in India: Rs. 7.50 lacs

For studies abroad: Rs.15.00 lacs

In case of part time computer courses, the extent of loan should not exceed Rs. 50,000/- per annum or fee fixed by the particular institutution (as per prospectus less concession,if any), whichever is less.

Rate of Interest

Loan upto Rs. 4 lac	:  12.00% p.a. *
Loan over Rs. 2 lac upto Rs. 15 lac	:  13.00% p.a. *
Loan over Rs. 15 lac	:  15% p.a.*

*This is subject to change from time to time.
The Interest shall be charged at simple rate from the date of disbursement till the commencement of repayment of loan and thereafter, compound Interest will be charged on reducing balance basis. 1/2% interest concession may be provided for the loanees if the interest is serviced during the study period.

Margin
NIL

Period of loan
Principal and Interest is repayable in 84 monthly instalments. Repayment will commence after two years of the completion of studies by the borrower or one month after his/her getting employment, whichever is earlier.

Purpose

For pursuing studies in recognised schools/ colleges/ institutions to meet: - Tution and other fees

Maintenance costs, books and equipment etc.

Cost of passage (for studies abroad)

Eligibility

For School / College indian education.

a) Minimum second division (Pass marks for SC/ST)

b) Parents / guardians (Including persons engaged in agriculture / allied activities having independent regular source of income.

Loan Amount

(I) School / College indian education: (Upto 6 times the monthly net (take home) income of the parents / guardian. Minimum loan of Rs. 4,000/- Maximum Rs. 1lac.

(ii) Technical / Professional higher studies in India and Abroad 90% of the cost of study, subject to maximum of Rs. 8lacs.

Margin
10%

Interest Rate

At competitive rates on reducing balance only. Please check-up for latest rates at your nearest branch Interest is compounded at quarterly basis.

Period of Loan

(I) For School / College indian education: Loans to be repaid in a period of 36months, commencing immediately after disbursal, by the parents / guardian.

(ii) For Technical / Professional higher studies in India and abroad: The loan is to be repaid is 60 months after the completion of the course of securing job, whichever is earlier. Regular periodic repayment as much as possible should be made during the period of study. Quarterly interest should be paid regularly.

(iii) Permitted without any penalty.

Purpose
You can take a loan for pursuing studies in recognised schools/colleges/ institutions to meet:

Tuition and other fees
Maintenance costs, books & equipments,etc.
Cost of passage (for studies abroad)
Caution fund/building fund/refundable deposit

Eligibility

Should be an India National
Secured admission to professional/ technical courses through Entrance Test/ Selection process
Secured admission to foreign university/ Institution

Loan Amount

Need based finance subject to the repaying capacity of the parents/ students with margin and the following ceilings.
studies in India - Maximum Rs.7.50 lacs
studies Abroad - Maximum Rs.15 lacs

Margin

Upto Rs.4 lacs: No margin

Above Rs.4 lacs
Studies in India: 5%
Studies Abroad: 15%

Interest Rate

Loans upto Rs.4 lacs	:   SBMTLR presently 12.00 %p.a.
Loans over Rs.4 lacs	:   1% above SBMTLR presently 13.00 % p.a

While interest is not required to be paid during moratorium period, payment of the same before start of repayment would entitle you to concession in interest rate applied during the repayment holiday

Repayment of loan

Repayment Holiday - Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan to be repaid in 5-7 years after commencement of repayment

Prepayments permitted without any penalty

Purpose
You can avail of the attractive education loan scheme if you have secured admission to or are already studying in any of the country's IIMs or IITs or in any of the designated institutes.

Eligibility
You are eligible for the education loan if you fulfill the following criteria: A student who has secured admission or is already studying in any IIM, IIT, Indian Institute of Science, Bangalore, Jamnalal Bajaj Institute of Management, Mumbai, XLRI Jamshedpur, Roorkee Engineering College or Indian School of Mines, Dhanbad.

Amount of Loan
The loan will be in the form of a package which will cover entire tuition fees, hostel and mess charges, library fees or any other fees / charges payable to the institution subject to a maximum of Rs 2.50 lacs.

Period of loans
Loans repayable In 48 Equated Monthly Installment (EMI).The EMI will commence one year after the completion of the course or whenever is earlier.The interest, however, will be realised during the pendency of the loan on a quarterly basis.

Interest Rate

Loans upto Rs.4 lacs (In India)	:   12.5% pa, SBMTLR presently 12.00 %p.a.
Loans above Rs 4 lacs	:   1% above SBMTLR presently 13.5 % p.a
* Tenures: Minimum of 12 months to a maximum of 48 months

Contact :
Delhi Tel: 3341152
Bangalore Tel: 2261599
Chennai Tel: 8282206, 8230267
Hyderabad Tel: 7637738
Kolkata Tel: 2401529
Mumbai Tel: 4923246

Maximum Amount for India : Rs 100000
Maximum Amount Overseas : Rs 500000
Documents to be submitted: Bank documents, Academic records

Interest Rate in India
Upto 400000 : 12%
Above Rs 400000 : 13.5% pa.
Interest Rate for Overseas
Loans Upto 400000 : 12%
Above Rs 400000 : 13.5% pa.
Collateral and Third Party Guarantee are required

Tenures: Maximum of 5 years

Eligibility: 1st class marks in previous exams and selected for proffesional course
Repayment 1 year after completion of course or 3 months after getting a job whichever is earlier.

When to Apply: After getting Admission in college/institute

Time taken to process documents: 1 Week

Contact:
Delhi Tel: 3350248
Bangalore Tel: 2242932
Chennai Tel: 4991868, 4994294
Hyderabad Tel: 4756023-25
Kolkata Tel: 2471359
Mumbai Tel: 2046160, 204762

Eligibility: Admission approval with previous satisfactory academic record.

Maximum Amount for India : Rs 800000
Maximum Amount Overseas : Rs 1000000

Documents to be submitted : Previous academic record and admission approval.

Time To Process: Nearly a Month

Interest Rate
In India:
Upto Rs 200000 : 13.5% pa
Above 200000 : 15.5% pa
For Overseas
Upto Rs 200000 : 13.5% pa
Above 200000: 15.5% pa
Collateral and Third party Guarantee required.

Tenures: Eight Years

Repayment: At the end of completion of the course.

Contact :
Delhi Tel: 3341426, 3360872
Bangalore Tel: 3350525
Chennai Tel: 5342459, 5342092
Hyderabad Tel: 3202102, 3201029
Kolkata Tel: 2472181, 2475737
Mumbai Tel: 2663725, 2663256

Period of loans: 5 years

Purpose: Tuition feesLibrary/Other institution charges Hostel/Mess charges Travel expenses abroad (one way only)

Amount of loan: For studies in India: Rs. 550,000
For studies abroad: Rs.1.5 million

Interest rate: Depending on the loan amount with maximum of 13.77%

Margin Required: Maximum 15%, depending on the loan amount. 20% of the loan amount in case of abroad studies

Period of loan: The loans are to be repaid starting from 6 months after course completion or 1 year after getting a job

Contact :
Delhi Tel: 3321562,3325147
Bangalore Tel: '5586137, 5595347
Chennai Tel: '8283652
Hyderabad Tel: '3237760, 3230450, 3230368
Kolkata Tel: '4754047
Mumbai Tel: 2656727

Eligibility :Repayment 6 months after completion of course

Maximum Amount for India : Rs 500000
Maximum Amount Overseas : 75 % of the course fee.

Documents to be submitted : Marks list, Income proof of guardian, evidence for selection to the courses, copy of ration card, details of admissible expenses.

Time To Process: 1 Week

Interest Rate
In India
Upto Rs200000 : 13.5%
Above Rs200000 : 15.5 %
For Overseas
Upto Rs 200000 : 13.5% ,
Above Rs 200000 : 15.5 %
Collateral and Third Party Guarantee required.

Tenures : 3 to 5 years in India and maximum 4 years abroad.

Contact :
Delhi Tel: 3312675, 3321326
Bangalore Tel: 5595071
Chennai Tel: 8312267-70
Hyderabad Tel: 3202191, 3205764
Mumbai Tel: 2872465

Eligibility: Good academic records and selection for the course

Maximum Amount for India : Rs 150000
Maximum Amount Overseas : Rs 300000

Documents to be submitted: Mark sheet, proof of admission, proof of cost of course
Time To Process: A Forthnight

Interest Rate

In India
Upto Rs 25000: 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.

For Overseas
Upto Rs 25000 : 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.

Tenures: Till completion of course

Repayment: 3 to 5 years or earlier.

Contact
Delhi Tel: 5712934, 5729817
Bangalore Tel: 2265436, 2260540
Chennai Tel: 5383416
Hyderabad Tel: 4705920, 4743684
Kolkata Tel: 2201892, 2207912
Mumbai Tel: 2870307

Eligibility: Should have secure admission for in School/College/Institute

Maximum Amount for India : Rs 200000
Maximum Amount Overseas : Rs 750000

Documents to be submitted: Pass Certificate of Previous School/University/Institute
Time To Process : A Fortnight

Interest Rate

India: 13.75%
Overseas: 13.75%
Collateral and Third Party Guarantee required

Tenures: Maximum of 5 years

Contact :
Delhi Tel: 3321754
Bangalore Tel: 2264997
Chennai Tel: 4364410
Hyderabad Tel: 7843238
Kolkata Tel: 2203996, 2207122
Mumbai Tel: 2661295, 2652595

Eligibility: Should have a good academic record.

Maximum Amount for India : Rs 200000
Maximum Amount Overseas : Rs 600000

Documents to be submitted : Mark sheets,addmission approval,address proof,photgraph,income proof .

Time To Process: 1 Week

Interest Rate
In India
Upto Rs 400000 : 12% pa
Above Rs 400000 : 13% pa.
For Overseas
Upto Rs 400000 : 12% pa
above Rs 400000 : 13% pa.
Collateral and Third Party guarantee required.

Tenures : Maximum of five years

Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

Contact :
Delhi Tel: 3362003
Bangalore Tel: 2266207
Chennai Tel: 8524142
Hyderabad Tel: 4755324
Kolkata Tel: 2299700
Mumbai Tel: 218222

Purpose: HDFC gives loans to students to partly meet their educational expenses / costs for pursuing specific higher educational courses at institutes approved by HDFC. Loans are given to students who are citizens of India. The student should have a consistently good academic record, and admission to an approved Educational Institute for pursuing a recognized course.

Eligibility: Students enrolled with an approved Educational Institute and desirous of availing the education loan can make an application, with the earning parent / guardian being the co-applicant to the loan. Currently, new entrants and existing students of only select leading national educational institutions are eligible to apply for education loans. Please check with your nearest HDFC Office for the list of approved institutions.

Amount of loan: Loans can be availed upto a maximum of 90% of the total cost as determined by HDFC. The costs would generally cover expenses incurred towards the course fee, library charges, hostel and mess charges, cost of books and equipment. HDFC lends upto a maximum of Rs. 2,00,000 on an Education Loan.

The period of the loan is determined on the merits of each case but would not exceed 5 years. The repayment can be accelerated on completion of the course, considering the earning capacity of the student. HDFC's main concern is to help individuals comfortably repay the borrowed amount.

Rate of interest

Loan Amount (Rs.)	:   Rate of Interest - % p.a.
Upto 2,00,000	:   14.0

Contact :
Delhi Tel: 6103146, 6185944
Bangalore Tel: 2274600, 2219473
Chennai Tel: 8553838
Hyderabad Tel: 3233875
Kolkata Tel: 2478256
Mumbai Tel: 2820282

Purpose: The scheme extends a helping hand to a meritorious student desirous of pursuing higher studies either in India or abroad.

Courses approved
Studies in India

Graduation Courses in recognised universities leading to degrees like B.A., B.Sc, B.Com, B.Tech, B.E., MBBS etc.
Diploma/Certificate courses from recognised universities or Govt. recognised institutes in disciplines of Engineering, Medicine, Agriculture, Computer, Tourism, Hotel Management and such other technical/professional courses.
Chartered Accountancy and Cost & Work Accountancy from the Institute of Chartered Accountants of India and Institute of Cost & Works Accountants of India respectively. Post Graduate Courses leading to degrees like M.A., M.Sc., M.E., M.Tech, MBA, M.S. M.D. etc.
Post Graduate Research studies in Pure & Applied Sciences, Economics and other Social Sciences etc. in a recognised university leading to Doctoral Degree.

Studies Abroad
Full time Post Graduate or Doctoral Programmes in Engineering, Medicine, Technology (Pure & Applied Sciences), Agriculture, Computer Science, Business Administration, Economics and other Social Sciences.

Amount of loan
Actual Loan Amount will be determined as per requirements of the student subject to maximum of Rs.4 lakh. The loan amount under the scheme would consider meeting the following expenses:

Course Fees
Hostel/Boarding Fees
Cost of Books/Journals
Stationery & Equipment required for the course
Examination Fees
In addition to above, for studies abroad, cost of air passage may be considered if requested by the student.

Purpose
IDBI has structured a loan facility for Professional / Management / Foreign University education.

Courses approved
Indian Universities
For Professional Courses i.e. B.E., B.Tech., M.B.B.S. Post Graduate Courses i.e. M.E., M.Tech., M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTEFor part time / on-line distance learning courses (subject to terms & conditions)

Foreign Universities
For Graduate/Post Graduate/Research/Doctorate studies that insist on TOEFL, GRE, GMAT scores.

Eligibility
Indian Universities
For Graduate courses : at least 75% in the +2 stage.
For Post Graduate Courses : first class graduates.

Foreign Universities
Proof of TOEFL, GMAT, GRE score card, and 1-20 admit card.

Age of the applicant should not be more than 30 years for Indian Universities and 35 for Foreign Universities. Age of the parent / Guarantors should be below 55 Years. The annual income of the family should not be less than Rs. 3 lakhs.

Amount of loan
For Indian Universities, actual tuition and other fees, but not exceeding Rs. 5 Lakh for the entire duration of the course.

For Foreign Universities, considering that in addition to fees, there are travel / preparatory expenses, the loan amount shall not exceed Rs. 15 Lakh, in all.

Interest rates
Long term Prime Lending Rate + 1% p.a. + taxes
Processing Fees: Rs. 1000 at application, and Rs. 500 p.a. thereafter
Cost of documentation / legal expenses at actuals

Period of loans

Graduate Studies: Maximum moratorium period of 5 years including the actual duration of the course. After which the loan should be repaid within the next 3 years.
Post Graduate Studies: Moratorium period of 2 years i.e. the course duration. Loan repayment within the next 3 years.
No prepayment penalties levied
In fact, there are incentives for prompt repayment. Like refund of the entire processing fee, if not a single installment is missed/delayed.

Eligibility: For studies in IndiaA student of Indian Nationality is eligible to apply for the loan provided he/she has secured admission to the institution/college/university.

Approved courses: Full time courses (Diploma, Teachers' Training, graduation or Post graduation and Doctorate studies) in all branches of medicine, engineering, agriculture, CA/ICWA/ACS, Computer Science, Architecture, Business Administration, Law, Arts, Science, Commerce, Hotel Management, Nursing and Pharmacy (except Foreign University Degree courses offered in India)

Amount of loan: The bank provides a loan of Rs.10000/- for a student's education at a junior college; teacher's training course and other short-term courses that are approved by the Government.Loans worth Rs.50000/- are also offered to students who wish to do a polytechnic course/computer course, or desire to pursue graduation/post-graduation in any discipline, such as arts, commerce, science, pharmacy, agriculture & fisheries.A maximum amount of Rs.4 lakhs for graduation/post-graduation in engineering, architecture, dental science, medicine, chartered/cost accountancy & business administration courses, offered by a reputed institution.

Margin: No margin for loans up to and inclusive of Rs.25000/- and a minimum margin of 25% for loans above Rs.25000/-

Repayment: Repayment of the loan commences from the 6th month after the student completes his/her course or the 3rd month of securing a job, whichever is earlier. The loan is to be repaid within a maximum period of 6 months depending upon the repayment capacity.

For studies abroad :
Eligibility: Meritorious students who have been selected for any course in foreign universities are eligible to avail of the foreign education loans.

Amount of loan: The bank provides Rs. 10,00,000/- as a loan for his/her education at a foreign university.

Margin: 25% (To be brought pro rata as and when disbursements are made)

Period of loan: The loan is repayable in 60 monthly installments. Repayment of the loan is to commence 6 months after the student completes the course or completion of 3rd month after securing a job, whichever is earlier.

Eligibility: Minimum age 21 years having 60% marks throughout and have admission approval.

Maximum Amount for India : Rs 500000
Maximum Amount Overseas : Rs 500000

Documents to be submitted : Academic Records and admission approval.
Time To Process: 1 Week

Interest Rate
In India
Upto Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
For Overseas
Upto Rs 200000 : 14% pa,
Above Rs 200000 : 16% pa.
Collateral needed if loan is above Rs 25000
Third Party Guarantee is also required.

Age : Between 21 years to 65 years.
Tenures: Maximum 40 months
Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

Contact
Delhi Tel: 3715951, 3328747
Bangalore Tel: 8462878
Chennai Tel: 8526397, 8520125
Hyderabad Tel: 3203112, 3202985
Kolkata Tel: 2381455, 2482713
Mumbai Tel: 2660239, 2665641

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

Federal Vidya Loan Scheme

Purpose: The purpose of the loan is to make available financial assistance to the needy and deserving students of bright academic record so as to enable them to continue higher studies in India or Abroad either in diploma/graduation or post-graduation level in Arts, Science, Commerce, Management, Medicine and Engineering.

Eligibility: Under this scheme the loan can be sanctioned to any student of Indian nationality who intends to join any of the approved courses in an Educational Institution recognised by the government or any University in India or Abroad.

Courses Approved:
A - Category:- Academic courses such as Diploma, Graduate/Post-Graduate courses in Arts, Science and Commerce etc.,
B - Category:- Professional courses such as Diploma, Graduate/Post-Graduate courses in Engineering, Medicine, Dental Science, Agricultural Science, Veterinary Science, Computer Science, Nursing, Pharmacy, Business administration, Law etc.,

Type of Loan:
The loan account shall be operated as a term loan. To facilitate flexibility in operation, future debits on account of recurring expenses in each semester/year can be made to this account.

Margin:
The margin is NIL for courses in India. For foreign studies a minimum margin of 10% is to be insisted on.

Amount of Loan:
(Rs in Lakhs)

Place of studies	Minimum	Maximum
In India	0.50	5.00
Abroad	0.50	10.00

Rate of Interest:

Upto Rs.5 lakhs	:   13.5 %
Above Rs.5 lakhs	:   14.5 %

Period of Loan:
The period of the loan consists of the period required for the completion of the course and that meant for repayment of the loan. The repayment should begin within 12 months on the completion of the course or after the student secures employment whichever is earlier.

Maximum period of the loan	:   11 Years
Minimum period	:   3 Years

Eligibility: Must have obtained admission in a reputed institute in india or abroad. Repayment : After completion of course

Maximum Amount for India: Rs 750000
Maximum Amount Overseas : Rs 1500000

Documents to be submitted : Admission slip, residence proof, age proof, letter from institute

Time To Process: A Fortnight

Interest Rate
In India
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
For Overseas
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
Collateral and Third Party Guarantee required.

Tenures: Maximum of Seven Years

Contact:
Delhi Tel: 3316777
Bangalore Tel: 2219762, 2219767
Chennai Tel: 8522940, 8550068
Hyderabad Tel: 3201803, 3201298
Kolkata Tel: 2821514, 2294823
Mumbai Tel: 2189286