Jammu & Kashmir Bank’s Educational Loan
Objective of the Scheme:
Jammu & Kashmir 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:
Studies in India :
Studies over a Wide Area :
Liability of Finance :
Quantum of Finance :
Margin :
For loans Upto 4 lacs - nil
For loans above 4 lacs Studies in India - 5% Studies abroad - 15%
Processing Fee / Mortgage Charges : NIL
Rate of Interest :
Education Loans with tenure up to 5 years |
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Up to Rs. 5.00 lacs |
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12.50% |
Above Rs.5.00 lacs & up to Rs.10.00 lacs |
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13.50% |
Above Rs.10.00 lacs and up to Rs.20.00 lacs |
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14.25% |
Education Loans sanctioned for tenor exceeding 5 years, floating interest rate as per the following structure would apply: - |
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Up to Rs. 5.00 lacs |
PLR-3.00% |
BR+1.5% |
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Above Rs.5.00 lacs & up to Rs.10.00 lacs |
PLR-2.00% |
BR+2.50% |
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Above Rs.10.00 lacs and up to Rs.20.00 lacs |
PLR-0.75% |
BR+3.75% |
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Repayment Period of the Loan :
For more Details, Kindly refer the following link:
http://www.jkbank.net/customerEducationalLoans.php
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