Eligibility

• 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. 20 lakhs

Studies abroad - Maximum upto Rs. 150 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 180 months (inclusive of the moratorium)

Above Rs. 50 lakhs
Maximum 180 months (inclusive of the moratorium)

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

PREPAYMENT PENALTY: None

Security

• UPTO RS. 4 LAKHS:
  No collateral security
  Parent / Guardian / close relative to be joint borrower(s)
  Assignment of future income of the student for payment of installment
• ABOVE RS. 4 LAKHS:
  Margin - 15.00%
  15% Margin.
  Parent / Guardian / close relative to be joint borrower(s)
  Collateral security of value equivalent to loan amount
  Assignment of future income of the student for payment of installment