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Education Bank Loan in India : Indian Bank


With the boom in banking sector in the recent past, several banks offer education loans in India these days. Indian Bank is no exception and offer education loans to students interested to pursue education in India or abroad. Gather information on learning loans: Indian Bank from this page and pursue your dream education.

Eligibility


Student:

  • The student should have nationality Indian.
  • Student should have taken secured admission to the technical or professional courses in the India as well as in abroad through entrance test and selection process based on merit.

Courses:

  • For Studies in the India
    • Graduation, post-graduation or the diploma courses in different faculties.
    • Computer courses of the standard institutes qualified to electronics department.
  • Studies in abroad:
    • Technical, professional or job oriented courses by standard universities.
    • Post graduation courses such as MS, MBA, MCA, etc
    • Courses conducted by CIMA - London, CPA in USA etc.


Details of Loan


Exposure of expenses:

  • Fee payable to school, hostel or college
  • Fees for exam
  • Purchase of equipments or books
  • Passage money or travel expenses for studies in abroad
  • Purchase of the computers which is useful for completion of course.

Quantum:

  • The maximum amount is Rs. 10.0 lakhs for the studies in the India.
  • The maximum amount is Rs. 20.0 lakhs for the studies in Abroad

Margin:

  • There is no any margin on the loan up to Rs 4 lakh
  • The margin on loans greater than Rs 4 lacs are 5 percent for students in India and 15 percent for the students in Abroad.

Security:

Both students and parents should performed documents:

  • No security is needed for the loan up to Rs. 4.0 lakh
  • Collateral security is needed in form of guarantee of 3rd party in case when amount is between Rs. 4 lacs and Rs.7.50 lacs.
  • Collateral or the obligation of guardians, parents or the third party in case when loan amount is greater than Rs. 7.5 lakh.


Disbursement


Repayment period or moratorium period is the course period plus 1 year or 6 months from getting the job, whichever is early. The loan is repaid in 5 to 7 years after beginning of repayment.


Details & Contact


Head Office,
PB No.1384,
Chennai 001,
Tamil Nadu
Phone - (044) 25233231, 25231254, 25231253
Fax - (044) 25231278
Customer Care - (044) 39898911
Toll Free No - 1800 425 1400
Website - http://www.indian-bank.com



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