Eligibility
· You need to be an Indian National.
· You should be aged between 16 - 35 yrs.
· Collateral is required for all loans greater than Rs. 7.5 Lakhs.
· All Loans require a co-applicant.
Features & Benefits
· Loans up to Rs.15 Lakhs for Education in India & Rs.20 Lakhs for abroad
· Attractive interest rates.
· Repayment to start 1 yr. after course completion / 6 months after employment.
· Loan available up to tenure of 7 years including moratorium period.
· Tax Benefits available under Section 80E of the IT Act *
· Hassle free loans and speedy approvals.
· Convenience of service at your doorstep.
· Loans available for other course related expenses also!
Fees & Charges for Educational Loan
Description of Charges
Personal Loan
Loan Processing Charges
Upto a maximum 2% of the loan amount
Pre-payment charges
Upto 4% of the Principal Outstanding
No Due Certificate / No Objection Certificate (NOC)
Nil
Solvency Certificate
Not applicable
Charges for late payment of EMI
@ 24 % p.a. on amount outstanding from date of default
Credit assessment charges
Non standard repayment charges
Cheque swapping charges
Upto Rs. 500/- per event
Loan cancellation / re-booking charges / Re-scheduling
Upto Rs. 1000/-
Bounce Cheque Charges
Upto Rs. 450/- per Bouncing
Statement Charges (per statement) / Repayment Schedule
Upto Rs. 500/-
Legal / incidental charges
At actual
