• The student should be an Indian National
  • Should have secured admission to a higher education course in a recognized Institution in India or Abroad.
Sanction Limit
  • Studies in India- Maximum upto Rs. 10 lakhs
  • Studies abroad- Maximum upto Rs. 50 lakhs (higher limit can be considered on a case to case basis).
Repayment period
  • Upto Rs. 4 lakhs Maximum 60 months (after moratorium)
  • Above Rs. 4 lakhs Maximum 120 months (inclusive of the moratorium)

Moratorium- Course duration + 1 year OR 6 months after getting a job, whichever occurs earlier.

Rate of interest
  • Upto Rs. 4 lakhs - No Security
    Parents/ guardian/ close relative to be a joint borrower (s)
  • Above Rs. 4 lakhs
    Besides the Parent / guardian/ close relative executing the documents as joint borrower.

Collateral security of minimum equivalent to loan amount along with the assignment of future income of the student for payment of Installments.

Life Insurance Policy of the life of the student and assigned in favour of the Bank for the entire loan amount prior to disbursement of the loan.

Surety of one individual acceptable to the bank

Documents Required
  • Proof of Residence – Aadhar Card
  • Card/Driving license/ Passport/ Electricity Bill/ Telephone Bill
  • Enrollment /Offer letter with Prospectus of the College/ University
  • Receipts of the Payment made, if any
  • 3 years IT returns/ last 3 months salary slip of co-applicant
  • Last six months salary/ business account pass book/ Bank Statements
  • Undertaking to be obtained from student to remit his/her salary to the NRE account with the branch/ deposit monthly loan repayments till closure of the loan and SI to debit the same to be held on record.
  • Copy of Ticket & Visa
  • Term wise marksheet/ transcripts copies