Indian Bank

For Studies in India - Scheme Highlights

Purpose of Educational Loan in Indian Bank: 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 months : Maximum - 48 months

Amount of loan-Indian Bank:

For Computer Courses: Maximum : Rs.1.00 lac
For other professional courses:Maximum : Rs.3.50 lacs

Margin-Indian Bank:

Upto Rs.2.00 lacs : 10%Upto Rs.3.50 lacs : 15%

Rate of Interest-Indian Bank:

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-Indian Bank:

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-Indian Bank: Any Graduate/Post-graduate courses with good employment prospects. The period of study should not exceed 5 years.

Amount of Loan-Indian Bank: 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-Indian Bank: 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

Related Web Pages

Indian Bank studies In India and abroad Educational Loan for engineering course Educational Loan for computertechnology Educational Loan for Medicine Educational Loans in Indian Bank Repayment of Loan-Indian Bank Educational Loan for vocational courses Educational Loan for Diploma courses Rate of Interest in Indian Bank

Indian Bank