Loans will be granted to deserving/meritorious students for pursuing full time courses in India at selected premier and reputed institutions identified by the Bank.

•      Should be an Indian National.
•      Secured admission to full time professional/ technical courses through Entrance Test/Selection process in any of the selected Premier Institutes as given in LIST OF INSTITUTES

NOTE: Customers who are visually challenged/ persons with disabilities are not barred from availing loans if they fulfil scheme specific criteria.
Institutes:

• NITs/Other Premier Institutes.
• IIM/IITs/NITs/AIIMS/ISB

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9.50% p.a subject to revise from time to time.
Simple interest to be charged during the study period and up to commencement of repayment. Accrued interest will be added to the principal amount borrowed while fixing EMI for repayment. However, to reduce the interest burden, interest may be collected during the moratorium period.

IIM/IITs/ISBs-
Maximum Limit: Rs.30 Lacs
NITs/Other Premier Institutes:
Maximum Limit: Rs.15.00 lakhs

Expenses covered under the loan:
•      Fee payable to college/school/ hostel
•      Examination/ Library/ Laboratory fees
•      Purchase of books/equipment/ instruments/ uniforms
•      Caution deposit/ building fund/ refundable deposit supported by institution bills/ receipts [not to exceed 10% of tuition fees for the entire course]
•      Travel expenses/ expenses on exchange programme*
•      Purchase of computer/ laptop, if essential for completion of course*
•      Any other expense required to complete the course like study tours, visits to foreign universities in exchange programs, project work, thesis, etc.* * No voucher/ receipt required, purpose (end use) need to be self-certified. Expenditure not to exceed 25% of the loan amount (up to a lump sum amount of max Rs. 1 Lac). Expenditure beyond 25% cap permitted subject to production of voucher/ receipt

MARGIN:
Up to Rs.4 lakhs- NIL
Above Rs.4 lakhs- 1% of the loan amount subject to a maximum of Rs.15000/-

Repayment Period 
The loan amount up to Rs.10 lakh is- repayable in 120 EMI instalments.
In case of above Rs.10 lakh and up to Rs. 30 lakh - repayable in 180 EMI instalments commencing from after course period+12 months or 6 months after getting the job (immediately after completion of course), whichever is earlier.

1) Marks sheet of last qualifying examination for studies in India. 

2) Copies of letter conferring scholarship/freeship /studentship, etc., 

3) Documents evidencing the duration of course and commencement thereof viz., prospectus or certificate from the Competent Authority of the Institution. 

4) Proof of admission to the course. 

5) Schedule of expenses for the course. 

6) Three copies of passport size photograph of the borrower(s)/guarantor(s). 

7) Copies of foreign exchange permit (if applicable). 

8) Signature identification from bankers of borrower(s)/guarantor(s). 

9) A copy of pass port/voters ID card / proof of residence. 

10) Income tax assessment order for the last two years 

11) ADHAAR CARD Copy 

12) CIBIL SCORE 

13) PAN CARD – Applicant & co-applicant  

For salaried persons

i) Latest salary slip showing all deductions 

ii) Employment details for the last 5 years 

iii) Latest TDS Certificate - Form-16 

For self employed/professionals and businessmen and agriculturists 

i) Proof of income 

ii) Income tax/wealth tax( if applicable) assessment orders for the last two years 

iii) Statement of assets and liabilities 

For Agriculturists : 

i) Proof of income (If necessary) 

direct link to service charges

Security:
IIM/IITs/ISBs-

For loan limit 10.0 lakhs (without Security)

For loan limit > Rs.10 lakh upto Rs.30 lakhs - With tangible collateral property of full value and parent/Guardian as coborrower and reference of two persons known to the Bank.

NITs/Other Premier Insts:

7.50 lakhs (without Security)

Rs.7.50 lakhs upto Rs.15.00 lakhs - With tangible collateral property of full value and parent/Guardian as coborrower and reference of two persons known to the Bank.