Who can apply?

• Applicant should be an Indian citizen
• Proof of admission to the proposed course/ programme
• Age- Minimum 18 years & maximum 45 years
• Net worth -Minimum double the loan amount (combined with co-obligants)

To avail the loan, you can choose any of these:

1. Download the application form and submit it your branch
2. Call our contact centre executives
3. Please visit any of our branches

• Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card) 
• Address Proof  
• Photograph of applicant & guardian
• Mark list of qualifying examination
• Proof of income of guardian
• Details of admissible expenditure of course
• Evidence for selection to the course of study

Quantum of Finance

Other conditions

• Age of guardian not to cross 60 during the currency of loan (if post retirement income justifies there is relaxation). If age crosses 60, an additional guarantor with same eligibility. Guardian can be father, mother, brother, sister, etc. 
• Initial expenses will be released at the time of admission other exp at the beginning of each semester/year.
• Cost of computer for home assignment also can be included.

Repayment conditions

• Periodical interest should be serviced during the course period and subsequent cushion period.
• The outstanding balance at the end of moratorium period shall be repaid in equated monthly instalments over a period of maximum 5 years.
• If the borrower is discontinuing the educational programme, the loan shall be closed immediately.
• Even if the student fails for the course and is not in a position to obtain degree or diploma within the period of completion of the course, the repayment of loan should be made.

Loan Period

Co-obligants

Security

Repayment of the loan is made as Equated Monthly Installments (EMI).

You can use any one of the ways to repay the loan:

• Cheques
• Standing instructions at your branch
• FedNet - Internet Banking
• Automated Payment through ECS
• Mobile Banking.

Please visit the Interest Rates page for details.