Model Education Loan Scheme for pursuing higher education in India & Abroad
Studies in India: (Indicative list)
Note :The above list is indicative in nature. Courses other than the above offered by reputed institutions may also be considered on the basis of employability.
|Quantum of Finance||
Studies in India : Maximum upto Rs. 10 lakhs.
Studies Abroad : Maximum upto Rs. 20 lakhs.
Note : Higher quantum of loan may also be considered on course to course basis (eg: courses in IIMs, ISB etc)
|Rate of Interest||Please click here For rate of interest|
|Processing fee||Please click here For Processing fee|
Upto Rs. 4 lakhs : NO Security( Parents to be joint borrowers)
Above Rs. 4 lakhs and upto Rs. 7.5 lakhs
Above Rs. 7.5 lakhs
|Moratorium Period||Course Period + 1 Year
|Repayment Period||Repayment of the loan will be in equated monthly instalments for a maximum period of 15 years for all categories.|
|Prepayment||No pre-payment penalty is to be levied for prepayment of loan any time after the commencement of repayment.|