Indian Bank Education Loan

 
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Indian Bank Education Loan
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About Indian Bank Education Loan
Here you will find Indian Bank Education Loan Interest Rates, its Eligibility and Repayment Process.

Eligibility    

The applicant should be an Indian National.
He / She should have secured admission to professional / technical courses in India or abroad through Entrance Test / Merit based selection process..

To meet the cost of education covering fee payable to college / school / hostel, exam fees, purchase of books / equipment's, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc.
Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course.
Insurance premium for student borrower.

Course of Study

Studies in India

    Diploma/Graduation/Post-graduation courses in various disciplines.
    Computer certificate courses of reputed institutes accredited to The Department of Electronics.

Studies Abroad

    Job-oriented professional/technical courses offered by reputed universities.
    MCA, MBA, MS etc.
    Courses conducted by CIMA - London, CPA in USA etc.

Maximum Permissible Amount of Loan    

    For Studies in India - Rs.10.00* lakhs
    For Studies Abroad - Rs.20.00* lakhs
    * Higher quantum of loan also can be considered in deserving and meritorious cases.

The loan can be availed from the branch nearest to the place of domicile.

Margin  - Rate of Interest

    Upto Rs.4.00 lakhs - NIL
    Above Rs.4.00 lakhs
    For Studies in India - 5%
    For Studies Abroad - 15%

12.25 % p.a. at present (irrespective of the loan limit sanctioned under both IBA as well as non-IBA scheme)
Concession of 0.50% in applicable rate of interest will be allowed on fresh Educational Loans under IBA Scheme to Girl Students for studies in India and Abroad with effect from 1st July 2009. This interest concession will not be applicable to Education Loans under non-IBA scheme.
Educational Loan borrowers who are enjoying finer rate of interest allowed to select premier educational institutions.
Floating Rate linked with Base Rate (BR) of the Bank and liable to undergo changes whenever there is a change in BR.

Click Here for more details.

 
 
Comment/ Reviews on Indian Bank Education Loan
Ho Mam/Sir, I have completed my B.Tech and am willing to proceed my higher studies in abroad. I hav already got educational loan for doing my B.Tech can i also get loan for doing my M.S in abroad
Posted By : p.preethi, on 21-04-2012 10:34:27 
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Dear sir/Madam I have done B.Pharmacy in 2009 and after that i was working with Ind swift Pharmaceuticals Ltd. Its my keen desire to be accomplish my further study in Newzeland that is diploma in food technology. To support loan funding we have urban house under municipal corporation and it cost would be 15-18lakh.Besides, we are resident of Rajpura (Patiala) from 20 years.I hope my request to be consider as soon as possible. Kindest Regards Ravinder Singh
Posted By : RAVINDER SINGH, on 27-10-2011 14:56:56 
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Do you give loan for Diploma Course for overseas for an amount of 4 Lacs without any security?
Posted By : Darshak Gala, on 04-10-2011 16:03:59 
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i have completed B.E in mechanical at PESCE,mandya. while studying i have tried to get education loan, but they have asked for third party guarantee and security. because of this i didn't got loan. could i get education loan for higher studies(M Tech)with out third party guarantee and security.
Posted By : sandeep k, on 11-08-2011 23:57:35 
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Dear sir apply education lone indianbank kancheepuram branch
Posted By : P.DIVYA, on 03-08-2011 13:02:25 
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Dear sir apply education lone indianbank kancheepuram branch
Posted By : P.DIVYA, on 03-08-2011 13:02:24 
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hello sir, i completed my BE degree and now i wish to do PG course. My family income is with in sixty thousand per annum. I am eligible to get loan as per the norms. I wish to know, whether i could get full amount as per the estimate, provided from the college
Posted By : VISHAL S.G, on 23-07-2011 15:00:37 
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hello sir, i completed my ug degree with 71% and i chosen to do M.B.A(Airlines and Airport management) at chennai (Hindustan University). i need education loan upto 4.00lakhs from ur bank. is it possible to get loan from ur bank? and give me the procedures for getting loan...
Posted By : purni, on 21-07-2011 15:33:32 
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hello sir, i completed my ug degree with 71% and i chosen to do M.B.A(Airlines and Airport management) at chennai (Hindustan University). i need education loan upto 4.00lakhs from ur bank. is it possible to get loan from ur bank? and give me the procedures for getting loan...
Posted By : purni, on 21-07-2011 15:33:13 
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hello sir, i completed my ug degree with 71% and i chosen to do M.B.A(Airlines and Airport management) at chennai (Hindustan University). i need education loan upto 4.00lakhs from ur bank. is it possible to get loan from ur bank? and give me the procedures for getting loan...
Posted By : purni, on 21-07-2011 15:33:03 
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i need to get 5 lakhs of loan for abroad studies. i AM PLANNING FOR ABROAD TO STUDY FOR DIPLOMA COURSES. I WANT TO KNOW ABOUT ALL THE CRITERIA/CONDITIONS FOR DIPLOMAS STUDY LOAN FOR ABROAD.the course is DIPLOMA IN HOTEL&TOURISM MANAGEMENT i got the admission by merit and i need to join on 6th of april 2011.so replay me as soon as possible
Posted By : kavitha, on 25-03-2011 16:06:29 
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