Jammu & Kashmir Bank

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:

• Should be an Indian National
• 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 ).

Studies in India :       

• Approved courses leading to graduate / post graduate degree and PG diplomas conducted by recognized colleges / universities recognized by UGC / Govt. / AICTE / AIBMS / ICMR etc.
• Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT,NID etc.
• Regular Degree / Diploma courses
• Courses offered by National Institutes and other reputed private institutions.

Studies over a Wide Area :  

• Graduation: For job oriented professional / technical courses offered by reputed Universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA- London, CPA in USA etc.
• Degree / diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India / abroad for the purpose of employment in India / abroad.

Liability of Finance :

Quantum of Finance :                       

• 10.00 Lacs for studies in India.
• 20.00 Lacs for studies abroad.

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 :

Repayment Period of the Loan :                  

• Repayment of the loan will be in equated monthly installments for periods as under:
• For loans up to   7.5 lakhs - upto 10 years
• For loans above 7.5 lakhs - upto 15 years
• Repayment shall start after Repayment holiday / Moratorium period , which shall be as under;
• Repayment holiday / Moratorium Course period + 1 year or 6 months after getting job, whichever is earlier.

For more Details, Kindly refer the following link:

http://www.jkbank.net/customerEducationalLoans.php