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11th November 2017, 01:10 PM
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Join Date: Aug 2012
Re: Indian Bank Education Loan Calculator

Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India.

As you want here I am telling Indian Bank provides convenient educational loans for meritorious/deserving students to acquire knowledge and skill in the field of their interest.

Educational Loan Scheme
Eligibility
> The applicant 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).

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

Repayment
Up to 15 years

Security
a. For the loans (limit upto Rs.7.50 lakh) covered Credit Guarantee Fund Scheme for Educational Loans (CGFSEL) No third party guarantee / collateral to be obtained. Only the parents/guardian/spouse to be the joint/ co-borrowers.

b. For loans NOT covered under Credit Guarantee Scheme:

> Upto Rs.4.00 lakhs Co-obligation of parents.

> Above Rs.4.00 lakhs and upto Rs.7.50 lakhs Co-obligation of parents together with collateral in the form of a satisfactory third party guarantee.

> Above Rs.7.50 lakhs Co-obligation of parents together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of installments.

Salient Features
To meet the cost of education covering fee payable to college/school/hostel, exam fees, purchase of books/equipments, travel expenses/passage money for studies abroad, purchase of computers essential for completion of the course etc.

Last edited by pawan; 11th November 2017 at 01:12 PM.


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