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2nd December 2015, 02:24 PM
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Join Date: May 2012
Re: Bank of Rajasthan Education Loan Scheme

Hello, here I am providing you the details of the educational loan of the ICICI bank as the Bank of Rajasthan is merged with ICICI in year 2010.

Eligibility:

Age Limit: Minimum 16 years and maximum upto 40 years.

Courses to do in India:

Graduation courses – BA, B.Com, B.Sc. etc.
Post Graduation courses - Masters & Phd.
Professional courses – Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institutes affiliated to University.

Courses to do in abroad:

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.

Amount of loan:

Maximum upto Rs.10.00 lacs for studies in India and
Maximum upto Rs.20.00 lacs for studies abroad

Margin:
Loan upto Rs.4.00 lacs: No margin
Loan above Rs.4.00 lacs:
(i) 5% for studies in India
(ii) 15% for studies outside India.

Rate of interest:

Presently the rate of interest is 11% (4% below BPLR)(subject to change from time to time)
In November 2015

Repayment:

Loan will be repaid in 5 - 7 years after commencement of repayment in equated monthly installments depending upon quantum of loan and repaying capacity.


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