COMPARE : EDUCATION LOANS
Tamilnad Mercantile Bank Ltd Education Loan
Introduction
Tamilnad Mercantile Bank Ltd. provides education loans for parents who wish to educate their children in professional courses in India / Abroad and help them get graduation / post graduation in any field of choice of the student. The cost of the education can be born by the loan taken from the bank.
Highlights
  Study Abroad Study India
Course Graduation Graduation
Loan Type Term Loan Term Loan
Loan Purpose Loan if provided 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 etc.
The loan is extended for
School education / Graduation / Post Graduation Courses.**
Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
Courses like ICWA, CA, CFA etc
Courses conducted by IIM, IIT, IISc, XLR1, NIFT etc.
Courses offered in India by Reputed Foreign universities.
Loan Amount Min. - Rs 50000
Max. - Rs 2000000
Min. - Rs 50000
Max. - Rs 1000000
Margin Money Upto Rs. 4.00 Lakhs - Nil
Above Rs.4.00 Lakhs - 15%
Upto Rs. 4.00 Lakhs - Nil.
Above Rs.4.00 Lakhs - 5%
Tenure Min. - 5 Yrs.
Max. - 7 Yrs.
Min. - 5 Yrs.
Max. - 7 Yrs.
Interest Rate Upto Rs. 4 Lakhs - 14.25% p.a.
Above Rs. 4 Lakhs upto Rs. 7.50 Lakhs - 14.25% p.a.
Above Rs. 7.50 Lakhs upto Rs. 20 Lakhs (With 100% Collateral Only) -13.75% p.a.
Upto Rs. 4 Lakhs - 14.25% p.a
Above Rs. 4 Lakhs upto Rs. 7.50 Lakhs - 14.25% p.a.
Above Rs. 7.50 Lakhs upto Rs. 20 Lakhs -13.75% p.a.
 Fees & charges
 Security
 Terms & Conditions
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