Education Loan

 Purpose 

  • For Higher study in India and abroad.

Courses Eligible 

Study In India: 

  • Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. Etc
  • Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
  • Teacher training/ Nursing courses approved by Central government or the State Government
  • Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority
  • Professional course like CA, CS, ICWA, CFA etc.
  • Professional Courses relating to Engineering, Medical Agriculture, Veterinary, Law, Dental, Management, , Ayurveda, Homeopathy, Physiotherapy.

Study Abroad: 

  • Job oriented graduation courses such as professional/Technical, etc. offered by reputed universities.
  • The Post graduation courses such as MBA, MCA, MS etc.
  • Professional Courses conducted by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in USA etc.

Expenses Covered 

  • Fees payable to the college / school / hostel.
  • Examination / Library / Laboratory fee.
  • One way air fare for overseas study.
  • Purchase of Books/Equipment/Instruments/Uniforms, Purchase of computers- essential for completion of the course.
  • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% of tuition fees for the entire course)
  • Travel Expenses/Passage money for studies abroad
  • Any other expense required to complete the course – like study tour, project work, thesis, etc.

Documents 

Student Documents 

  • Proof of Identity (Any one):- PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence Address (Any one):- Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Gas Bill or copy of Aadhaar Card / Passport/ Driving License
  • 2 passport-size photographs
  • Passport to be mandatorily submitted in case of Studies Abroad
  • Copy of mark sheet of the  10th, 12thstandard and last exam passed by the student.
  • Letter from AITCE/MCI approved colleges confirming the admission and fee schedule for the full course  for which student has opted,
  • Evidence, quotations for other expenses eligible to cover for loan limit.

Co-Applicant Documents 

  • Proof of Identity (Any one):- PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence Address (Any one):- Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Gas Bill or copy of Aadhaar Card / Passport/ Driving License
  • 2 passport-size photographs
  • For salaried person last three months salary slip with Form-16
  • For Businessmen, professionals last two years audited Financial Statements along with ITR copies.
  • Statements of SB account for the last six months.

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