• Should be Resident Indian.
• Secured admission to Recognized Institution for approved courses by UGC/Govt./AICTE Through Entrance Test /Merit based selection process after completion of HSC (10 plus 2 or equivalent).Where selection process purely based on marks obtained in qualifying examination is not the criterion for admission and in such case, bank may consider eligibility on the basis of employability and reputation of the institution concerned.

• Rate of Interest

Course Eligible

• All Graduation courses.
• Professional courses viz. Engineering, Medical, Agriculture, Veterinary, law, dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology etc.
• Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institute affiliated to University.
• Courses like C.A., ICWA,CFA,CS etc.
• Courses offered in India by reputed foreign Universities.
• Evening courses of institutes approved by State / Central Govt. / UGC /AICTE /AIBMS / ICMR / ICAR.
• Courses offered by National Institutes and other reputed private institutions.
• The College / Institute must have been approved by the State / Central Govt. /UGC/AICTE etc.

Coverage of Expenses

• Fee payable to college / Institution / University.
• Examination / Library / Laboratory fee.
• Fee and other charges payable to hostel.
• Purchase of books / equipments / instruments / uniforms.
• Personal Computers / Laptops wherever required.
• Caution deposit / building fund / refundable deposit supported by Institution bills / receipts.
• Any other expenses required to complete the course like study tours, project works, thesis etc.
• Bank may with the consent of students arrange for Life Insurance Policy and Insurance premium to be considered in project cost.
• Reasonable lodging and boarding charges will be considered in case the student chooses / is required to opt for outside accommodation for hostel.
• For caution deposit, building fund/refundable deposit supported by institution bills/ receipts should not exceed 10% of the total tuition fee for the entire course.
• For purchase of books / equipment's / instruments /uniforms / computer at reasonable cost if required for the completion of course and any other expenses required to complete the course – like study tours, project work, thesis, etc. should not be exceed 20% of the total tuition fee for the entire course, If such type of expenses not include in fee structure/estimate of the collage.
• Cost of external coaching / tuition is not to be considered.

Margin

• Up to Rs.4.00 lacs : NIL
• Above Rs.4.00 lacs : 5%

Quantum of Finance

• Need based finance subject to future repayment capacity based on projected future earning which should commensurate with past placement records and average packages offered to the pass outs of the college.
• Maximum Rs.10.00 lacs

Repayment Holiday / Moratorium Period

• For Loans up to Rs. 7.50 lac : Course period +Maximum 120 installments
• For Loans above Rs.7.50 Lac: Course period +Maximum 180 installments
• To commence after one year of completion of studies or six months after getting the job, whichever is earlier.

Security

• Loan limit up to Rs. 4.00 lac :
• No Security
• Parents to be joint Borrowers
• Loan limit above Rs. 4.00 lac to Rs. 7.50 lac :
• Parents to be joint Borrowers
• Third party guarantee of at least two persons having good net worth acceptable to Bank.
• Limit above Rs. 7.50 lac :
• Collateral security equal to 100% of the loan amount or co-obligation of parents / guardian / third party along with the assignment of future income of the student for payment of installments.
• The document should be executed both by the student and parent / guardian.
• The security can be in the form of land / building / Govt. Securities /Public sector Bonds / Units of UTI, NSC, KVP, Life Insurance Policy, Bank Deposits, Relief Bonds etc. standing in the name of student / parent / guardian or any other third party with suitable margin. Margin on securities to be considered as per extent guidelines of the bank.

Freebies

• No exchange on Drafts issued in favour of school or student.

Credit Information Report

• Bank is authorized to make enquiries from any of the Credit Information Bureau and get the Credit Information Reports. Bank is also authorized to disclose from time to time any information relating to the loan to Credit Bureaus approved by Govt of India or Reserve Bank of India without any notice to the borrower.