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EDUCATION LOAN UPTO 30 LACS, AT PREFERENTIAL TERMS TO STUDENTS FOR PREMIER EDUCATIONAL INSTITUTES OF INDIA AND ABROAD
Interest
Rate
Loan limit Interest Rate
Upto 30 Lacs 9.60% - 10.85%
Loan Amount &
Security
Secured Unsecured
20 to 30 Lacs (List A) 20 Lacs (List A)
15-20 Lacs (List B) 15 Lacs (List B)
10 - 15 Lacs (List C) 10 Lacs (List C)
Above 15 Lacs(Abroad) Upto 15 Lacs(Abroad)
Charges &
Repayment
Processing fees Nil
Pre-payment charges Nil
Repayment period Upto 15 Years
Moratorium period Course period + 1 year
Repayment types Monthly Installments after moratorium period
Eligibility
Criteria
  • Indian resident/citizen
  • Confirmed admission in the colleges before disbursement.
  • Age Limit:38 years for General Candidates
  • Age Limit:40 years for SC/ST Candidates
Key Benefits &
Coverage
Margin
  • Upto 4 Lacs - Nil
  • Above 4 lacs - 5% of total fee
Course covered
  • Indian Courses - Regular full-time Degree/ Diploma courses and Part-time courses offered by Institutes eligible under the scheme, admission in which is obtained through an Entrance Test/Selection Process/ Percentage of marks as prescribed by the Institute would be allowed.
Expenses covered
  • College fees, hostel charge, books and education related expenses
Required
Documents
Student Co-Borrower
KYC
  • Photo ID
  • Residence Proof
  • 2 passport size photograph
  • Aadhaar
  • Pan card
  • 2 passport size photograph
  • residence proof(elctricitybill/telephone bill/house lease agreement/bank statement)
EDUCATION
  • Admit letter
  • College fee-breakup
  • GRE/GMAT/TOEFL/IELTS, etc. Marksheets (If applicable)
  • X, XII and Graduation mark sheet
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INCOME
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  • 6 month bank account statement
  • ITR/Form 16 of last 2 years
  • Income proof( Latest 3 salary slips)
SECURITY
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  • Residential Flat
  • Residential House
  • Non‐Agricultural Land
  • A Fixed Deposit in ICICI Bank