- Should be an Indian National
- Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit Based Selection Process.
Studies in India : Maximum upto Rs.10 lacs.
Studies Abroad : Maximum upto Rs.20 lacs.
| Upto Rs.2.00 lakh |
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No Security. |
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Co-obligation of parents and 2 guarantors of good means. |
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| Above Rs.2.00 lakh |
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Security in the form of mortgage of residential flat/pledge of NSC, KVP, Govt. Bonds/Assignment of Life Insurance policies/banks deposits in the name of parent or any other third party. Collateral security should be equivalent minimum to the tune of loan component. |
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Wherever the flat is already mortgaged to the Bank, the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. |
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Security of shares/units of mutual funds be accepted subject to prevalent guidelines as regards lending against shares (present limit Rs.10.00 lakhs maximum for shares in Demat form. In case the security offered is held by the person other than the applicant his personal guarantee to be insisted upon. |
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Co-obligation of parents and suitable third party guarantee of good means. (The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the document as “joint borrower”).
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In case of married person, co-obligator can be either spouse or the parent(s)/parents-in-law. |
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If moratorium availed for interest payment
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If not |
| Upto Rs.4.00 lakh |
12.00% |
11.50% |
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| Above Rs.4.00 lakh to Rs.10.00 lakh |
12.50% |
12.00% |
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| Above Rs.10.00 lakh to Rs.20.00 lakh |
13.00% |
12.50% |
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