Indian Bank

Indian Bank’s Educational Loan SHG - Vidhya Shoba

Objective of the Scheme :

Indian Bank provides financial support to meet the educational expenses of the children of SHG members.

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 :

Amount of Loan :      

In Multiples of accumulated savings subject to maximum of six times at any time of the year depending upon educational requirements of the wards of SHG members.

Rate of Interest :

Repayment Period of the Loan :

Repayment is over a period of 12 – 24 months.

For more Details, Kindly refer the following link :

http://www.indianbank.in/products.php?pr=30&sc=3&ty=3&ct=26

Indian Bank’s Educational Loan

Objective of the Scheme :

Indian 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 applicant should be an Indian National. He / She should have secured admission to professional / technical courses in India / Abroad through Entrance Test / Merit based selection process.

Studies in India :

Diploma / Graduation / Post graduation courses in various disciplinesComputer Certificate courses in reputed institutes accredited to the Department of Electronics.

Studies over a Wide Area :

Job-oriented professional / technical courses offered by reputed universities, MCA,MBA, MS etc. Courses conducted by CIMA - London, CPA in USA etc.

Liability of Finance :

Expenses allotted for the Loan :

• Fee payable to college / school / hostel
• Exam fees
• Purchase of books
• Purchase of Equipments
• Travel expenses
• Passage money for studies abroad
• Purchase of computers

Quantum of Finance :           

For Studies in India: Rs.10.00lakhs and for Studies Abroad: Rs.20.00 lakhs. Higher Quantum of loan subject to a maximum of Rs.15 lakhs for studies in India and RS.25 lakhs for studies abroad also can be considered in deserving and meritorious cases

Margin :

Upto Rs.4.00 lakhs - Nil. Above Rs.4.00 lakhs: For Studies in India - 5%. For Studies Abroad - 15%.

Moratorium : NIL

Processing Fee / Mortgage Charges : NIL

Rate of Interest :      

Please see the Interest Rate link on home page

Repayment Period of the Loan :      

Maximum period The loan is to be repaid in 5-7 years after commencement of repayment.

For more Details, Kindly refer the following link :

http://www.indianbank.in/products.php?pr=12&sc=3&ty=3&ct=26