| A |
Indian Universities :
|
|
|
For
Professional Courses i.e. B.E., B.Tech., M.B.B.S |
|
|
Post
Graduate Courses i.e. M.E., M.Tech., M.S., M.D.,
M.B.A., M.C.A., |
|
|
etc.
recognized by AICTE· |
|
|
For
part time / on-line distance learning courses
(subject to terms & |
|
|
conditions) |
|
B
|
IForeign
Universities : |
|
|
For
Graduate/Post Graduate/Research/Doctorate studies
that insist on |
|
|
TOEFL,
GRE, GMAT scores |
| |
Eligibility Criteria |
| A |
Indian Universities :
|
|
|
For
Graduate courses: at least 75% in the +2 stage. |
|
|
For
Post Graduate Courses: first class graduates.
|
| B |
Foreign
Universities : |
|
|
Proof
of TOEFL, GMAT, GRE score card, and 1-20 admit
card |
|
Age
of the applicant should not be more than 30
years for Indian Universities and 35 for Foreign
Universities. Age of the parent / Guarantors
should be below 55 Years. The annual income
of the family should not be less than Rs. 3
lac.
|
|
How
much can borrow?
|
| A |
For
Indian Universities, actual tuition and other
fees, but not exceeding Rs. 5 Lac for the entire
duration of the course.
For Foreign Universities, considering that in
addition to fees, there are travel / preparatory
expenses, the loan amount shall not exceed Rs.
15 Lac, in all.
|
|
Security
|
| A |
|
Equitable
mortgage of property or other security having
market value of 150% |
|
|
of
loan amount Or |
|
|
Pledge
of Bank Deposits / NSC / Kisan Vikas Patra or
any other Government |
|
|
Securities
with face value of not less than 100% of the loan
amount Or |
|
|
Should
be a mortgage of property / pledge of securities. |
|
|
Insurance
cover for the student borrower in addition. |
|
Who
can apply ? |
| A |
Students
can apply for the loan singly or jointly with
parents/guardians/third party guarantors.
|
|
Loan
Charges? |
| A |
|
For
Loans upto Rs. 4 Lac, Long term Prime Lending
Rate. |
|
|
For
Loans above Rs. 4 Lac, Long term Prime Lending
Rate + 1% P.A. |
|
|
Processing
Fees will be 0.5% of the loan amount. |
|
|
Cost
of documentation / legal expenses at actuals. |
|
What are the repayment terms? |
| A |
Graduate Studies:
Maximum moratorium period of 5 years including
the actual duration of the course, after which
the loan should be repaid within the next 3
years.
Post Graduate Studies:
Moratorium period of 2 years i.e. the course
duration. Loan repayment within the next 3 years.
|
|
Speciality about educational loans |
| A |
Well,
idbi bank
has structured this special loan facility around
the student's needs and the family's repayment
capacity. |
|
|
Loan
is available for part-time courses and on-line
education too (subject to |
|
|
terms
& conditions). |
|
|
Flexible
repayment options. |
|
|
No
prepayment penalties levied. |
|
|
In
fact, there are incentives for prompt repayment.
Like refund of the entire |
|
|
processing
fee, if not a single installment is missed / delayed. |
