|
|
| 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
Fees & charges
|
|
| |
Study Abroad |
Study India |
| Processing Fee |
1 % |
|
| Late Payment Penalty |
2 % |
2 % |
|
| Comment on Charges |
penal interest of 2.00% p.a |
penal interest of 2.00% p.a |
|
|
|
Security
|
Security |
|
|
Upto Rs. 4.00 Lakhs - No Security
Above Rs.4.00 Lakhs upto 7.50 Lakhs Suitable Third Party Guarantee
Above Rs. 7.50 Lakhs and upto Rs. 20.00 Lakhs - 100% collateral in any of the form of Immovable property / NSC / Units of UTI / LIC policy / RBI Bonds or any transferable Government securities. |
|
|
|
Terms & Conditions
|
Terms & Conditions |
|
|
Holiday / Moratorium Period: Course period + 1 year after completing the course. If the student got employed within 1 year after completion of the course, the repayment should start immediately after the expiry of one month from the date of employment.
Additional 0.50% interest concession allowed if the interest is serviced during holiday period.
Any irregularity or default in repayment will attract penal interest of 2.00% p.a. over and above the above rate of interest or at such rates prescribed by the bank from time to time on the balance outstanding. |
|
|
|
|
|
|
Show All Education Loans
|
|
|
|
|
|
Twitter