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| COMPARE : EDUCATION LOANS |
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| Indian Bank Education Loan |
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| Introduction |
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| Meritorious and deserving students who want to acquire knowledge in their interest field need not sit back because of lack of fund. Indian bank is there to help you by providing education loan for all your expenses from tuition fee to purchase of books, caution deposits, etc. bank even take care of insurance premium for student borrower. Bank has life insurance cover for the student borrowers under the 'IB Jeevan Vidya' Insurance Scheme. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Fee payable to college / hostel, exam, purchase of books / equipments, purchase of computer, travel expenses / passage money |
Fee payable to college / hostel / exam, purchase of books / equipments, purchase of computer |
| Loan Amount |
Higher Quantum of loan subject to a maximum of Rs.15 lakhs for studies in India and RS.25 lakhs for studies abroad also can be considered in deserving and meritorious cases
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Higher Quantum of loan subject to a maximum of Rs.15 lakhs for studies in India and RS.25 lakhs for studies abroad also can be considered in deserving and meritorious cases
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| Margin Money |
Upto Rs.4.00 lakhs - Nil.
Above Rs.4.00 lakhs - 15%
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Upto Rs.4.00 lakhs - Nil.
Above Rs.4.00 lakhs: 5%
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| Tenure |
Min. - 5 Yrs.
Max. - 7 Yrs.
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Min. - 5 Yrs.
Max. - 7 Yrs.
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| Interest Rate |
Base rate of the bank is 10.25%
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base rate of the bank is 10.25%
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| Time to Process Loan |
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7 days |
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 Fees & charges
Fees & charges
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Security
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Security |
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Upto Rs.4.00 lakhs - Coobligation of parents. No Security.
Above Rs.4.00 lakhs and upto Rs.7.50 lakhs - Coobligation of parents together with collateral in the form of a satisfactory third party guaran. Above Rs.7.50 lakhs - Coobligation of parents together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of instalments. |
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Terms & Conditions
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Terms & Conditions |
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Maximum period The loan is to be repaid in 5-7 years after commencement of repayment.
Holiday Period : The course period PLUS 1-year or 6 months after getting a job, whichever is earlier. |
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Show All Education Loans
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