- Eligibility for Loan: The applicant should be an Indian national and have secured admission into any course that has employable prospects.
- Expenses Covered: Expenses covered in the loan include tuition fees, travel, books, computer and even a two wheeler costing up to Rs 50,000.
- Loan Upper limit: For studies abroad, the maximum loan amount is Rs 20 Lac and a margin of 15% is required if the loan amount is more than Rs 4 Lac
- Rate of Interest: For education loans, the rate of interest is Rs 12.75% for less than 4 Lac and 13.75% for any amount above that.
- Repayment Period: Payment starts a year after the completion of the course or six months after finding a job. For a loan of less than 7.5 Lac the student has 5-7 years and for more than that 5-10 years.
- Security: No security is required for a loan up to Rs 4 Lac. From 4-7.5 Lac a third party guarantee is required and for 7.5 and above, the bank needs collateral security for the full value of the loan.
- Note: Interest rates may vary at the time of application and disbursement.
Thursday, September 27, 2007
Education loan from State bank of India
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Established in 1997, St. Gregorious Edu-Guidance is a leading education consultancy services providing exemplary service to students all over India. We deal in Admissions to all major professional courses in Premier Institutes across India. We are your one step solution for all career related needs, it may be MD, MBBS BE, BTech (ALL BRANCHES), , MDS, BDS, BPharm, BArch, MBA, MTech, MS, , PhD or any other courses. We provide personalized career solutions on an individual basis keeping in mind the aspirations of our client as well as the affordability factor.
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