Education Loan
¨ This facility can be allowed for domestic / overseas study after completion of higher secondary school education.
¨ Loan may be sanctioned against the security of properties/approved companies’ share in demat form, Govt. Securities/LIC policies/Our Bank’s FDRs etc.
¨ Margin to be maintained as per the nature of securities offered.
¨ Repayment period and Moratorium period allowed as per bank policy.
¨ Repayment will start from the date of completion of moratorium or getting the employment, whichever is earlier.
¨ For Study within India, maximum Secured Loan amount allowed upto Rs.20/- Lacs and For Foreign Education maximum Loan amount up to Rs.40/- Lacs will be allowed.
¨ Unsecured Education loan a maximum amount up to Rs.4/- Lacs will be allowed on merit.
