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| COMPARE : EDUCATION LOANS |
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| Karnataka bank Education Loan |
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| Introduction |
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| Karnataka bank offers education loan to the aspiring students under the Vidyanidhi education loan scheme. Bank gives loan to the students for higher studies in India and abroad. The loan covers tuition fees, books, study material, hostel boarding and even air travel expenses. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Graduation - Only for job oriented professional / technical courses offered by the reputed Universities;
Post Graduation - MCA, MBA, MS; Courses conducted by CIMA-London, CPA in USA etc. |
Graduate Courses - B.A., B.Sc., B.Com., B.C.A., B.B.M., Diploma in Engineering, Post Graduate Courses - Masters and Ph.D; Professional Courses - Engineering, Medical, Agriculture, Nursing, Veterinary, Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA; Courses conducted by IIM, IIT, XLRI, NIFT; Courses offered in India by reputed foreign universities; Evening Courses of approved Institutes; Other Courses leading to Diploma / Degree conducted by Colleges / Universities approved by UGC / GOVT. / AICTE / AIBMS / ICMR; Courses offered by National Institutes and other reputed private Institutions. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Loan upto Rs.4 lakh: Nil
Loan above Rs.4 lakh : 15%
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Loan upto Rs.4 lakh: No margin required
Loan above Rs.4 lakh: 5%
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| Tenure |
Min. - 1 Yrs.
Max. - 7 Yrs.
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Min. - 1 Yrs.
Max. - 7 Yrs.
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| Interest Rate |
For the merit students - 13.5%
0.5% concession for the girl students
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For the merit students - 13.5%
0.5% concession for the girl studentss
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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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Up to Rs.4 lakh: No security.
Above Rs.4 lakh and upto Rs.7.50 lakh: Collateral in the form of a suitable third party guarantee.
Above Rs.7.50 lakh: Collateral security of suitable value or suitable third party guarantee along with the assignment of future income of the student for payment of installments. |
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Terms & Conditions
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Terms & Conditions |
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The loan shall be repaid in 5 to 7 years after commencement of repayment. If the student secures employment during the holiday period, the repayment schedule should be advanced to commence immediately. |
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