Sr. No | Features | Education Loan Details |
---|---|---|
1 | Loan amount | ₹ 20 lakh to ₹1.5 crore |
2 | Margin money | 10% |
3 | Processing fee | ₹10K |
4 | Processing time | Nil |
5 | Loan tenure | 15 Years |
6 | Prepayment charges | Nil |
7 | Repayment holiday | Course period + 6 months |
8 | Countries covered | USA, Canada, UK, Ireland, New Zealand, Australia, Germany and others |
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Following table show the year wise payment schedule.
Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Sr. No | Type | Requirement |
---|---|---|
1 | Eligibility | Any student with an admit offer to a graduate or higher degree/diploma course offered by any licensed institution in the following countries: USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand or any European country. |
Sr. No | Type | Documents Required |
---|---|---|
1 | Documents For Applicants - | 1. Identity Proof: PAN/ Passport/ Driver’s License/ Voter ID card. 2. Completely filled-in Loan Application Form 3. Address: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card. 4. Passport (in case of study abroad). 5. Past Academic Record - a. 10th Marksheet b. 12th Marksheet c. Under Graduate Result Semester Wise (If required) d. Entrance Exam Result - Abroad institutes (e.g GMAT, GRE, TOEFL, etc.) e. Entrance Exam Result- Domestic institutes (e.g. CAT, CMAT, JEE, NEET, CET, GMAT, GRE, etc.) 6. Proof of Admission: Admission Letter (Conditional admission letter is also accepted). 7. Statement of expenditure. 8. 2 passport-size photographs. 9. Loan A/C statement of one year, if there is any previous loan from other Banks/ Lenders. 10. Bank account statement of the Student (in Takeover of Education loan case) |
2 | Documents For Co-Applicants - | 1. Identity Proof: PAN/ Passport/ Driver’s License/ Voter ID card. 2. Address: Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card. 3. 2 passport-size photographs. 4. If any previous loan from other Banks/ Lenders, then Loan A/C statement of 1 year. 5. Legal documents of the collateral/ Property documents. 6. Bank account statement of the Co-borrower/Guarantor, for the last 6 months (in Takeover of Education loan case) |
3 | Income Proof for Salaried Co-Applicant/Guarantor- | 1. Salary slips of the last 3 months. 2. Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept. 3. Bank account statement for the last 6 months (Salary Account). 4. Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower |
4 | Income Proof for Self-employed Co-Applicant/ Guarantor- | 1. Business address proof (If applicable). 2. Last 2 years IT returns ( If IT Payee). 3. TDS Certificate (Form 16A, if applicable). 4. Certificate of qualification (for C.A./ Doctor and other professionals). 5. Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower 6. Bank Account statement for the last 6 months. |
5 | Documentation For Collateral- | 1. Registered sale deed 2. If the property is a built one, then approved plan/map 3. Link or chain documents that show evidence of the ownership history of the property for the last 30 years 4. Latest property tax receipt 5. Occupancy proof |