PURPOSE

To provide financial support to deserving/meritorious students for pursuing higher,professional and technical education.

ELIGIBILITY

Courses eligible- Professional courses,Computers certificate courses of reputed mistitues, courses like ICWA, CA, CFA etc., courses by I.I.T.IIM, I.I.S.C. etc.

- Student eligibility – Indian, secured admission through entrance test/selection process and parents should be in the command area of branch office.

MARGIN

Upto Rs.4 lac – Nil

Above Rs.4 lac – 10%

NATURE OF LOAN & LOAN AMT.

Term Loan

Need based finance for fee,purchase of books, purchase of computers,equipments etc., subject to repaying capacity of the parents/Students.

Maximum Rs.7.5 lacs.

INTT. RATE

Upto Rs.2.00 lacs                                       11%

Above Rs.2.00 lacs.                                    12%

The interest to be debited monthly on simple basis during the repayment holiday period.

2% panel Intt. For above Rs.2 lac. for overdue amount & overdue period.

SECURITY

Co-obligation of either or both parents or guardian(s) and collateral security or suitable third party guarantee.

REPAYMENT

Repayment Holiday period – Course period + 1 year or 6 months after getting job W.E.E.

After commencement of repayment within 5-7 yrs.

UPFRONT FEE

0.5% of the loan Amt.

DOCUMENTATION CHARGES

Rs.200/- only

GENERAL

1% Intt. Concession  may be provided by incumbents, if the Intt. is serviced during the study period. Intt. Concession is to be provided to borrowers only at the time of final repayment of the loan.

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Ref.:-Cir. No.

00/07 dated 30-11-2007