Saraswat Bank

Saraswat Bank’s Education Loan - Saraswati

Objective of the Scheme :

Saraswat Bank provides financial support to meritorious students for pursuing higher education in India and abroad. Meritorious Students under management Quota are eligible for Education Loan.

Eligibility of the Student  :

  • The student should be an Indian National
  • The student  should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test / Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Liability of Finance :

Quantum of Finance :

  • Maximum Rs 10 Lac for education in India
  • Maximum Rs.20.00 Lac for education abroad.

Expenses allotted for the Loan :

100% of cost of the studies and other expenses

Margin : Nil

Processing Fee / Mortgage Charges :

For studies in India - Nil

Above Rs 2 Lac -2.5% of the loan amount ( max Rs 25000 )

Repayment Period of the Loan :

Maximum 144 months inclusive of moratorium period of max 36 months.

Rate of Interest :

0.5% concession in Rate of interest for all girl students and students of IIM, IIT, XLRI etc.

For more Details, Kindly refer the following link :

http://www.saraswatbank.com/home/page/personal/retail_loans/education_loan

To download the Application Form, Visit the following link :

http://www.saraswatbank.com/uploads/resources/RetailLoans20070302.pdf

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