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| COMPARE : EDUCATION LOANS |
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| State Bank of Travancore Education Loan |
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| Introduction |
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| The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Loan is given for
Graduation: For job oriented professional\technical courses offered by reputed universities.
Post graduation: MCA, MBA, MS etc.
Courses conducted by CIMA – London, CPA in USA. |
Loan is given for
Graduation courses, BA, B.Com, B.Sc, BBA, BCA, BBM.
Post Graduation Courses, Masters and Ph D.
Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
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.
Courses offered in India by reputed foreign universities.
Computer Certificate courses of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.
ICWA, CA, CFA
Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
Regular Degree / Diploma courses like Aeronautical, Shipping etc approved by Director general of Civil Aviation / shipping if pursued in India. It also to be recognised by local aviation, Shipping authority ( Pilot Training Course not included).
Evening courses of approved institutions.
Vocational Training and Skill development study courses. Distant / Offsite Education Programme not eligible for loan. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Upto Rs. 4 lacs - Nil
Above Rs.4 lacs - 15%
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Upto Rs. 4 lacs - Nil
Above Rs.4 lacs - 5%
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| Tenure |
Min. - 10 Yrs.
Max. - 15 Yrs.
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Min. - 10 Yrs.
Max. - 15 Yrs.
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| Interest Rate |
Upto Rs.4 lacs : 14%
Above Rs.4 lacs to Rs. 7.25 lacs : 13.75%
Above Rs. 7.5 lacs:13.25
0.5 % concession for Girl student
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Upto Rs.4 lacs : 14%
Above Rs.4 lacs to Rs. 7.25 lacs : 13.75%
Above Rs. 7.5 lacs:13.25
0.5 % concession for Girl student
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
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| Comment on Charges |
Processing charges:
Upto Rs.4 lacs - 0.5%
Above Rs.4 lacs - 0.4%
PENAL INTEREST : 2% for loans above Rs. 2 lac. |
PENAL INTEREST : 2% for loans above Rs. 2 lac. |
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Security
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Security |
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#Loans upto Rs.4 lacs : Co-obligation of parent/guardian/spouse/parent-in-law/grand parents as the case may be. No security
#Above Rs.4 lacs and upto Rs.7.5 lacs Co-obligation of parent/guardian/spouse/parent-in-law/grand parents as the case may be along with collateral in the form of a satisfactory third party guarantee required.
#For loans above Rs7.5 lacs Co-obligation of parent/guardian/spouse/parent-in-law/grand parents along together with tangible collateral security of suitable value along with assignment of future income of the student for payment of instalments and tangible security of suitable value
#Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin. |
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Terms & Conditions
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Terms & Conditions |
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To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. |
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