b) Studies abroad.
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.
Other Foreign Diploma courses are not eligible.
Margin :
For loans upto Rs.4 lac - No Margin required.
For loans above Rs.4 lac - 5% for study in India and 15% for study abroad.
Security :
For loans upto Rs.4.00 lac - NIL.
For loans above Rs.4.00 lac and upto Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
For loans above Rs.7.50 lac - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.
NOTE: In all the above cases, the parent / guardian shall join the transaction as co-borrower
Interest (PLR presently 12%)
For loans upto Rs.7.50 lakhs - PLR minus 2.00%
For loans above Rs.7.50 lakhs - PLR minus 2.50%
No processing charges/service charges are levied for educational loans
Repayment : In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.
Capability Certificate : Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents