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12th June 2015, 11:38 AM
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Join Date: Apr 2013
Re: Education Loan For NMIMS

NMIMS university offers the facility of providing the education load from bank for the needy students for getting this there are some conditions that are given below.


Common Conditions for getting educational loan

Eligibility :

Candidate should be an Indian National having secured admission to Professional / Technical courses through entrance test /selection process.

Maximum loan amount
Rs. 10 lakhsfor studies in India.

Margin
Upto Rs. 4 lakhs: NIL,
Above Rs. 4 lakhs : In India -5%, Margin(scholarship maybe included in margin.)


Disbursement
Payment directly to college / hostel / mess / airlines etc. Inappropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.

Repayment
For Full Time Courses :

Repayment to commence 12 months after completion of studies or 6 months after securing jobs whichever is earlier.

Maximum period 5 to 7 years. Repayment on EMI basis.



Interest rate on the load fund will be differ bank to bank .


Education load from bank - NMIMS






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