Those who are looking for
SCHOLAR LOAN :
SCHOLAR LOANS
Education Loans to students securing admissions in:
The countrys best engineering colleges
The nations elite medical colleges
Indias top B-Schools
Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features:
Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount:
Maximum loan amount upto Rs.15 lacs
Expenses covered:
Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education
Interest Rate
1.50% below SBAR effective rate 10.75% p.a. (floating) (w.e.f. 01.01.2009)
An Interest Rate concession of 0.50% to Girl Student availing Education Loans
Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.
Security
No security.
Co-borrower (Parent/guardian as co-borrower at Banks discretion)
Margin
Nil upto Rs.4 lacs
5% above Rs.4 lacs
Documentation Required
Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses
For details follow the link :
STATE BANK OF INDIA :: INDIA's LARGEST BANK
Rakesh Das,
Assistant Manager
STC