for study india and abroad

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  • Eligibility
    Eligibility For Loan
    Student who is / has: -
    • An Indian national.
    • Meritorious student
    • Secured admission to a higher education course in an institute recognized by a statutory body in India or abroad through entrance test/ merit based selection process
    Eligible Courses
    1. Studies in India
    • Approved courses leading to Graduate/ Post Graduate degree and Post Graduate diplomas conducted by recognized Colleges / Universities approved / accredited by Government of India/ State Government/ UGC / Government /AICTE /AIBMS / ICMR or Regulatory bodies.
    • Courses like I.C.W.A., C.A., C.F.A., etc.
    • Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NIDetc.
    • Approved courses offered in India by reputed foreign universities
    • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, degree/diploma in 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 by Head Office and included in approved educational institutions list
    • All Regular courses conducted by Institutions categorized as A, B and others.
    a) The above list is indicative in nature the other job oriented courses to technical/ professional degrees/ diplomas offered by recognized institution may be considered under this scheme.
    Eligible Courses a) Studies in Abroad Graduation
    For job-oriented professional/technical courses offered by reputed universities. (Diploma/ Certification courses are not permissible) Post Graduation
    Courses like MCA, MBA, MS etc.
    Courses conducted by CIMA-London, CPA in USA etc Degree/ Diploma
    Courses like Aeronautical, Pilot training, and Shipping etc.
    provided these are recognized by competent regulatory bodies in India/ abroad for the purpose of employment in India and abroad.
  • Finance
    Components of Finance
    • Fee payable to college/ school/ hostel (lodging and boarding). Reasonable Lodging & Boarding charges will be considered in case the student chooses/ is required to opt for outside accommodation.
    • Examination/ Library/ Laboratory fee.
    • Insurance premium.
    • Caution deposit, Building fund/ refundable deposit supported by Institution bills/ receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
    • Travel expenses/ passage money for studies abroad / College Bus fare in case of study in India
    • Purchase of computers-essential for completion of the course*.
    • Purchase of books/ equipments/ instruments/ uniforms*.
    • Any other expenses required to complete the course-like study tours, project work, thesis, etc*.

    *Terms & Conditions apply.

    Amount of loan
    Category A Category B Other Institutions
    No upper Ceiling. As per the fee structure of the institution-without collateral security ₹ 10.00 Lacs Without Collateral Security Actual as per fee structure of Institution

    In case higher loan limit is requested (from the above mentioned limit) for category A & B institutions, 100% tangible security with value equivalent to loan amount is required.

    Category A Institute link with PDF DownloadDownload
    Category B Institute link with PDF DownloadDownload
  • Security and Margin

    For category A & B institutions

    Institutions Loan Limit Collateral Security
    For Category A institutions  No Upper Limit,As per the fee structure of the institution NIL
    For Category B institutions Upto ₹ 10.00 Lacs NIL


    In case higher loan limit is requested (apart from the above mentioned limit) for category A & B institutions, 100% tangible security with value equivalent to full loan amount is required.

    For A category institution either parent/guardian may be co-obligant (irrespective of his/her means and age of student).In case of married person, co-obligator can be either spouse or the either Parent/ either Parent-in-law. Parental co-obligation can also be substituted by a suitable third party guarantee.

    For Other Institutions

    Loan upto ₹ 7.50 lacs: No collateral security but co-obligation of parents / guardian. In case of married person, co-obligator can be either spouse or the Parent(s) / Parent(s)-in-law. To be covered under Credit Guarantee Fund Scheme for Education Loans.

    Loan above ₹ 7.50 lacs: Mortgage of immovable property or any tangible security having value equivalent to 100% of loan amount. Co-obligation of parents / guardian. In case of married person, co-obligator can be either spouse or the Parent(s) / Parent(s)-in-law.

    C) Assignment of future income in all cases.


    Category A Category B Other Institutions
    NIL NIL Up to ₹ 4.00 Lacs NIL
    Above ₹ 4.00 Lacs
    5% For studies in India
    15% For studies Abroad
  • Rate of Interest and Repayment
    Rate of interest Institutions Rate of Interest
    For Category A RBLR+0.10
    For Category B RBLR+0.60%
    Others Institutions and working professionals
    Up to ₹ 4.00 Lacs RBLR+2.10%
    Above ₹ 4.00 Lacs & Upto ₹ 7.50 Lacs Credit Guarantee cover RBLR+2.10%
    Immovable Property or Tangible Assets RBLR+1.85%
    Above ₹ 7.50 Lacs RBLR+1.85%

    Special Rates:

    • Simple interest during moratorium period and thereafter the interest shall be compounded.
    • Concession of 1% in rate of interest is allowed for moratorium period (study + grace period), if the monthly interest is serviced regularly (monthly basis) during the moratorium period.
    • 0.50% concession on rate of interest will be applicable to women beneficiaries, SC/ST & disabled students. However, the 0.50% concession will be available for only one characteristic.

    Note: The rate of interest shall not fall below 1 year MCLR in any case.

    Repayment Upto 15 years
    Loan is repayable in EMI
    Moratorium period shall be exclusive of Repayment period
    Process fee Loans for study in India :- NIL
    Loans for study abroad :-
    • Upto ₹ 4.00 lacs: Nil
    • Above ₹ 4.00 Lacs:1% of loan amount to be recovered upfront, subject to minimum of ₹ 10000/- plus service tax, if any, if any (fee would be refunded after taking the course)
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