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J&K Bank - Education Loan

PSU BANKS

No collateral needed

Loan Margin : 15%

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7 days avg loan processing time

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Margin

15%

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Collateral

No

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Loan Tenure

Upto 15 Years

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Processing fee

1.0% onwards

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Early Repayment

No

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Living Cost

No

Secured Loan

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Amount

Up To 30Lac

Un-Secured Loan

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Amount

Up To 0

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UniCreds Guarantee

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Quick Loan Sanctions

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100% Transparency

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No Hidden Fees

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Feature

Jammu & Kashmir Bank provides a range of study-abroad loans per students' needs. The loan schemes serve different purposes enabling students to pursue their education abroad without any financial hurdles. Various J&K Bank education loan schemes are available, whether pursuing higher education abroad or undertaking M.Ed or B.Ed courses. J&K aims to empower financially disadvantaged but academically exemplary students to pursue their dreams of studying abroad.

FeaturesEducation Loan Details
Loan amountUpto ₹30Lac (Collateral) Studies in India - Maximum Rs. 10.00 lakhs* Studies Abroad - Maximum Rs. 30.00 lakhs* Note: Higher quantum of loan may be considered on course to course basis (e.g. courses in IIMs, ISB etc.) taking into account the future prospects, employability and reputation / recognition by Educational Institution Loans up to Rs.50 lacs & beyond Rs.50 Lacs should be secured by Collateral Security having value not less than 100% of the Loan amount
Margin money15% Upto Rs 4 lakhs : Not Applicable Above Rs 4 lakhs : Studies in India - 5% Studies abroad - 15%
Processing fee1.0% onwards For studies in India - Not Applicable For Studies abroad –Processing fee (upfront) @ 1% of the loan amount sanctioned with a maximum of Rs.5,000 for considering loans for studies abroad. The fee would however, be refunded upon the student taking up the course (loan is disbursed) or if the loan is not sanctioned by the bank. The fee would not be refunded if a sanctioned education loan for studies abroad is not availed by the student.
Processing time7 Days
Loan tenure15 Years
Prepayment chargesNil
Repayment holidayCourse period + 1 year

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Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

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Eligibility

  • To be eligible for this scheme, you must be an Indian national.
  • You should have gained admission to a higher education course in a recognised institution in India or abroad through an entrance test or merit-based selection process after completing HSC (10 plus 2 or equivalent).
  • The upper age limit for this scheme is 35 years, but it may be relaxed on a case-by-case basis.

 

For Co-Applicants/ -

 

International students applying for a J&K Bank student loan must have a co-applicant or a co-borrower when applying for their education loan. Some of the documents required to be submitted by the co-applicant in order for the education loan to be -

  1. Latest Qualification Certificates
  2. Proof of Admission to the University
  3. Proof of Income 
  4. Proof of Identity
  5. Proof of Residence
  6. Any other documents, if specified by the Bank

 

Eligible Courses

 

Students pursuing the following courses are eligible for the J&K Bank education loan -

  • Graduation: Job-oriented professional/technical courses offered by reputed universities.
  • Post-Graduation: MCA, MBA, MS, and other similar courses.
  • Courses conducted by institutions like CIMA-London and CPA in the USA.
  • Degree/diploma courses in fields such as aeronautical, pilot training, and shipping, provided they are recognized by competent regulatory bodies in India/abroad for employment in India/abroad.

It is important to note that the above list is not exhaustive, and the bank may approve other job-oriented courses leading to technical/professional degrees and post-graduate degrees/diplomas offered by recognized institutions under this scheme.

 

Documents Required For J&K Bank Education Loan

 

When applying for a J&K Bank education loan, there are certain documents that students must submit/attach. The following are the documents required -
 

STUDENT
1. Pan Card
2. Aadhar Card
3. Passport
4. University Admission Letter
5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc.
6. Academic: 10th, 12th & Degree - All semester Individual Marksheets
7. Resume
8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors)
9. 3 months Salary slips (If Applicable)
10. 6 months Bank Statements (If Applicable)
11. Form 16 / ITR (If Applicable)
   
MOTHER & FATHER (BOTH COMPULSORY)
1. Pan Card
2. Aadhar Card
3. Mobile Number & Email ID
    

CO-SIGNER (Salaried-Job)
1. PAN Card & Aadhar card
2. Latest 3 months salary slips
3. Latest 1 Year Salary Credited Bank Statements
4. Latest 2 Years Form 16
5. Electricity Bill
6. Mobile Number & Email ID

            IF

CO-SIGNER (Self Employed/Business)
1. PAN Card & Aadhar card
2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet
3. Business proof (GST, UDHYAM ADHAR, and GUMASTA)
4. Latest 1 Year Bank Statement (Income Credited)
5. Electricity Bill
6. Mobile Number & Email ID


For Collateral Loan : 
Collateral Documents
1. Registered Sale Agreement (All chains)
2. Share Certificate
3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt
4. NA conversion certificate in case of Plot.
5. OC/CC and Approved Building Plan.
6. 7/12 Extract
7. Society NOC
8. Any other Documents associated with Property

TypeRequirement
Eligibility Criteria1. Should be an Indian National. 2. Should have 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). 3. There is no specific restriction with regard to the age of the student to be eligible for education loan. 4. The upper age limit shall be capped at 35 years, which can be relaxed on case to case basis.

Benefits

Covers Expenses Apart From Tuition Fee
The education loan scheme covers the following expenses: . 1. Fees payable to school or hostel, examination, library, and laboratory fees 2. Expenses related to travel or passage money for studying abroad 3. Lodging and boarding charges of up to 20% of the total loan sanctioned will be considered for students opting for off-campus accommodation. 4. Purchase of books, equipment, instruments, and uniforms, as well as caution deposit and building fund/refundable deposit supported by institution bills/receipts.
Affordable Interest Rates
Jammu & Kashmir Bank provides affordable access to education, and to achieve this goal, it offers several education loan schemes at competitive interest rates. These schemes are designed to enable students to pursue their academic aspirations without being burdened by exorbitant fees.
Moratorium Period
J&K Bank understands that students may face difficulties repaying loans immediately after graduation. Hence, a moratorium period is provided, similar to a grace period, allowing students up to one year after graduation to begin repayment.
Finances Different Types Of Courses
Under its education loan scheme, Jammu and Kashmir Bank approves job-oriented courses that lead to technical/professional degrees, post-graduate degrees/diplomas from recognized institutions. The courses may include MCA, MBA, MS, pilot training, and shipping, among others, provided they are recognized by competent regulatory bodies abroad. Moreover, the bank offers a specific loan scheme for B.Ed. and M.Ed. courses.
Eligible Courses
Jammu & Kashmir Bank offers education loans for courses leading to technical or professional degrees and post-graduate degrees and certifications from accredited institutions. As long as significant regulatory bodies recognise them, these courses may include MCA, MBA, MS, pilot training, and shipping. The bank also has a unique loan scheme for B.Ed. and M.Ed. programmes.  Furthermore, there are various benefits of selecting a J&K Bank education loan for studying abroad. They are as follows -  1. Female students receive a 0.50% interest rate reduction. 2. Students can defer interest payments during the moratorium period. 3. Loans under INR 4 lakhs require no margin amount. 4. The processing fee is capped at a minimum of INR 5,000. 5. Students who pay interest during the moratorium period are eligible for a 1% concession. 6. A moratorium period is provided, similar to a grace period, allowing students up to one year after graduation to begin repayment.
Expenses Covered With J&K Bank Education Loan
The J&K Bank education loan scheme covers the following expenses apart from tuition fees -  1. Fees payable to school or hostel, examination, library, and laboratory fees 2. Expenses related to travel or passage money for studying abroad 3. Lodging and boarding charges of up to 20% of the total loan sanctioned will be considered for students opting for off-campus accommodation.  4. Purchase of books, equipment, instruments, and uniforms, as well as caution deposit and building fund/refundable deposit supported by institution bills/receipts.

 

Benefits Of Getting Your Education Loan Through UniCreds

Higher Chance Of Approval
By applying for your education loan through UniCreds, you are increasing your chances of approval. Generally, banks dismiss applications if they find any missing documents, property issues, or any other problem. With UniCreds, we will immediately reach out to J&K officials and find the best solution.
Online Service
With UniCreds, there’s no need to visit the branch to submit your documents. Simply visit the UniCreds website and upload your documents from the comfort of your home. You can also enjoy step-wise updates via notifications.
No Cost To You
All our education loan services are completely free of cost.
Quicker Sanctions
Our strategic partnerships ensure low turnaround time. Expect to have your education loan processed and sanctioned within 15 days.

Get Guidance at every step of your loan application

We ensure 100% transparency throughout the education loan process.Our education loan counsellors will stay by your side every step of the way.

Need Guidance Faster? Call us at:

phone

18001217661

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Need Guidance Faster? Call us at:

phone

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How to Apply

  • Once you've established your J&K Bank education loan eligibility, you can submit an online application or get in touch with one of our expert education loan counsellors at UniCreds to schedule a callback. 
  • After you've submitted your profile information, our specialists will carefully review it and, based on your eligibility, recommend the next course of action to you.
  • UniCreds enables students to upload documents digitally, sparing you the trouble of presenting your documents at the bank and allowing you to do it from the convenience of your home.
  • In addition, UniCreds gives you a customised set of documents to submit based on your profile and the loan you've applied for to speed up the process.
  • Once your documents are uploaded & KYC is verified, you can expect your loan to get sanctioned within a few working days, as specified.

A few disadvantages of applying for a JK bank education loan directly through the bank, i.e. the traditional approach -

  • You may not get the accurate list of required documents the first time you visit the branch. 
  • Banks usually dismiss applications in case of missing documents/paperwork, property issues, or other problems.
  • It may additionally be time-consuming due to several branch visits and long queues at the bank. 

To make it easier & convenient, UniCreds helps students secure their abroad education loan with JK Bank by directly getting in touch with the bank officials & finding the best solution.

Looking forSparkLogoFaster and
streamlined Process?

100% Transparency

100% Free

unicreds

Our education loan counsellors will stay by your side every step of the way and recommend the best partner and guide you through the loan applying and sanctioning process.

unicreds-scholar-girl

Documents

TypeDocuments Required
For BorrowersSTUDENT: 1. Pan Card 2. Aadhar Card 3. Passport 4. University Admission Letter 5. Entrance Score Card - GRE/ GMAT/ TOEFL/ IELTS, etc. 6. Academic: 10th, 12th & Degree - All semester Individual Marksheets 7. Resume 8. Name, Address, Contact and Email ID of 2 References (Friends/ Family/ Neighbors) 9. 3 months Salary slips (If Applicable) 10. 6 months Bank Statements (If Applicable) 11. Form 16 / ITR (If Applicable) MOTHER & FATHER (BOTH COMPULSORY): 1. Pan Card 2. Aadhar Card 3. Mobile Number & Email ID
Co-SignerCO-SIGNER (Salaried-Job): 1. PAN Card & Aadhar card 2. Latest 3 months salary slips 3. Latest 1 Year Salary Credited Bank Statements 4. Latest 2 Years Form 16 5. Electricity Bill 6. Mobile Number & Email ID IF CO-SIGNER (Self Employed/Business) 1. PAN Card & Aadhar card 2. Latest 2 year ITR with Computation income, Profit & Loss and Balance sheet 3. Business proof (GST, UDHYAM ADHAR, and GUMASTA) 4. Latest 1 Year Bank Statement (Income Credited) 5. Electricity Bill 6. Mobile Number & Email ID
Collateral LoanCollateral Documents: 1. Registered Sale Agreement (All chains) 2. Share Certificate 3. All Property Related Documents- e.g- Sanction Plan, Tax paid Receipt 4. NA conversion certificate in case of Plot. 5. OC/CC and Approved Building Plan. 6. 7/12 Extract 7. Society NOC 8. Any other Documents associated with Property

Loan Repayment

For a JK Bank student loan, the moratorium period is for the entire course duration plus an additional year. The repayment period for the same is 15 years, inclusive of the moratorium period. 

This aside, students with a Jammu and Kashmir Bank education loan can also close their loan payment before time. Here’s how -

  1. Pre-payment options
  2. Opting for a shorter repayment duration
  3. Loan transfer to another bank
%
Years
Months
Months

The displayed EMI amount is approximate & is subject to change based on various factors.

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Monthly EMI
0
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Principal Amount
1,600,000
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Total Interest
0
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Total Amount
0
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Frequently Asked Questions

STUDIES IN INDIA(INDICATIVE LIST) 1. Approved regular courses leading to Graduate/ Post graduate degree and PG diplomas conducted by Recognized Colleges/ Universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc. 2. Professional Courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc. 3. Courses like ICWA, CA, CFA etc. 4. Courses conducted by IIM, IIT, IISc, XLRI. NIFT, NID etc. 5. 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. 6. Approved courses offered in India by reputed Foreign Universities. 7. Courses offered by National Institutes and other reputed private institutions. Studies abroad: - 1. Graduation: For job oriented professional/ technical courses offered by reputed Universities. 2. Post-Graduation: MCA, MBA, MS, etc. 3. Courses conducted by CIMA- London, CPA in USA etc. 4. Degree/diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad. Note: The above list is indicative in nature. Bank may approve other job oriented courses leading to Technical/ Professional Degrees, Post Graduate Degrees/Diplomas offered by Recognized Institutions under this scheme.
No, there are no prepayment charges.
The upper age limit shall be capped at 35 years, which can be relaxed on case to case basis.
The processing fees for J&K Bank education loans for studies abroad include an processing fee of 1% of the loan amount sanctioned, with a maximum cap of Rs. 5,000.
The maximum loan tenure is 15 years, including the course duration plus a 1-year moratorium period.