Purpose
IDBI has structured a loan facility for Professional / Management / Foreign University education.

Courses approved
Indian Universities
For Professional Courses i.e. B.E., B.Tech., M.B.B.S. Post Graduate Courses i.e. M.E., M.Tech., M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTEFor part time / on-line distance learning courses (subject to terms & conditions)

Foreign Universities
For Graduate/Post Graduate/Research/Doctorate studies that insist on TOEFL, GRE, GMAT scores.

Eligibility
Indian Universities
For Graduate courses : at least 75% in the +2 stage.
For Post Graduate Courses : first class graduates.

Foreign Universities
Proof of TOEFL, GMAT, GRE score card, and 1-20 admit card.

Age of the applicant should not be more than 30 years for Indian Universities and 35 for Foreign Universities. Age of the parent / Guarantors should be below 55 Years. The annual income of the family should not be less than Rs. 3 lakhs.

Amount of loan
For Indian Universities, actual tuition and other fees, but not exceeding Rs. 5 Lakh for the entire duration of the course.

For Foreign Universities, considering that in addition to fees, there are travel / preparatory expenses, the loan amount shall not exceed Rs. 15 Lakh, in all.

Interest rates
* Long term Prime Lending Rate + 1% p.a. + taxes
* Processing Fees: Rs. 1000 at application, and Rs. 500 p.a. thereafter
* Cost of documentation / legal expenses at actuals

Period of loans

* Graduate Studies: Maximum moratorium period of 5 years including the actual duration of the course. After which the loan    should be repaid within the next 3 years.
* Post Graduate Studies: Moratorium period of 2 years i.e. the course duration. Loan repayment within the next 3 years.
* No prepayment penalties levied
* In fact, there are incentives for prompt repayment. Like refund of the entire processing fee, if not a single installment is         missed/delayed.

Eligibility : Admission approval with previous satisfactory academic record.

Maximum Amount for India : Rs 800000
Maximum Amount Overseas : Rs 1000000

Documents to be submitted : Previous academic record and admission approval.

Time To Process : Nearly a Month

Interest Rate
In India :
Upto Rs 200000 : 13.5% pa
Above 200000 : 15.5% pa
For Overseas :
Upto Rs 200000 : 13.5% pa
Above 200000: 15.5% pa
Collateral and Third party Guarantee required.

Tenures : Eight Years

Repayment : At the end of completion of the course.

Contact :
Delhi Tel: 3341426, 3360872
Bangalore Tel: 3350525
Chennai Tel: 5342459, 5342092
Hyderabad Tel: 3202102, 3201029
Kolkata Tel: 2472181, 2475737
Mumbai Tel: 2663725, 2663256

MYSORE BANK PROFESSIONAL COURSE SCHEME FOR DOCTORS

SBM, Founded by Sir.M.Visweahwaraya, has framed a scheme for the Professional in the field of medicine for pursuing higher studies in recognized university / institutions in India/Abroad.

To Meet :
(i) Tuition and other fees.

(ii) Maintainance Cost / Hostel Fees

(iii) Cost of Books and Equipment.

(iv) Cost of Passage ( for studies abroad)

Pre Requisite :
(i) Admission offer from any Recognized University.

(ii) Details of income of Parent / Guardian.

Margin : 10% of the total cost.
Interest : Compounded at quarterly intervals on reducing balance.

Repayment
The loan to be repaid in 48 months installments after completion of the course or securing a Job whichever earlier.

Security:
Security consisting of any of the following :

Government securities, UTI Bonds, NSC's, LIC Policies, Bank Deposits of equitable Mortgage of immovable property. Third party guarantee, if is insufficient.

For further details Contact :
STATE BANK OF MYSORE - Zonal office your nearest branch of SBM.

Eligibility : Must have obtained admission in a reputed institute in india or abroad. Repayment : After completion of course

Maximum Amount for India: Rs 750000
Maximum Amount Overseas : Rs 1500000

Documents to be submitted : Admission slip, residence proof, age proof, letter from institute

Time To Process: A Fortnight

Interest Rate
In India
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
For Overseas
Upto Rs 400000 : 11.5%
Above Rs 400000 : 12.5%
Collateral and Third Party Guarantee required.

Tenures : Maximum of Seven Years

Contact:
Delhi Tel: 3316777
Bangalore Tel: 2219762, 2219767
Chennai Tel: 8522940, 8550068
Hyderabad Tel: 3201803, 3201298
Kolkata Tel: 2821514, 2294823
Mumbai Tel: 2189286

Maximum Amount for India : Rs 500000
Maximum Amount Overseas: Rs 500000

Documents to be submitted : Admission form, document proof of eligibility, expenditure Time To Process: A Fortnight

Interest Rate
In India
Upto Rs 200000 : 12%
Above 200000 : 13.5%
For Overseas
Upto Rs 200000 : 12%
Above 200000 : 13.5%
Collateral and Third Party Guarantee required.

Tenures : Maximum of 6 years

Repayment : Interest with course period after that maximum of 72 EMI

Contact:
Delhi Tel: 5720849
Bangalore Tel: 2267476
Chennai Tel: 8522888
Hyderabad Tel: 4650771, 4650773
Kolkata Tel: 2484309
Mumbai Tel: 2651039

Vidya Lakshyapurti Education Loan Scheme

Purpose

PNB's Education Loan Scheme is designed to provide better educational opportunities to bright and needy students and brings within their reach all types of education (general,professional,technical and vocational courses).

The scheme enables all types of needy students (viz.students of plus 2 stage,graduation courses, post graduation courses, Masters & Ph.Ds, professional, technical , engineering, medical, veternary, law, dental, management, computer, vocational courses, courses like ICWA,CA,CFA, courses conducted by IIM,IIT,IISc,NIFT, courses offered in India by reputed foreign universities and all other types of courses offered by Govt./Semi-Govt/private institutions in order to meet the costs for their studies in India and abroad. Such courses would include regular, part time and correspondence courses. The costs include admission fees, books & stationery, instruments required for the course, monthly fees, examination fees,insurance premium for policy on life of the borrowing student,caution deposit/building fund/refundable deposit supported by bills/receipts, expenses like study tours/project work/thesis etc. required to complete the course, boarding and lodging expenses, and travel expenses/passage money including air fare for joining the course abroad.

Eligibility

1) Indian nationals, in the age group of 16-40 years.For part time computer courses, applicants in the age group of 16-45 years are eligible. Applicants whose guardians have been appointed by the court, should not be less than 21 years; such students should have already passed atleast one public examination.

2) Students who have scored pass marks in their last qualifying examination and have secured admission in the courses mentioned above.

3) The parents/guardian should have regular source of income to the extent that they are able to repay the loan in case of need/unforeseen circumstances.There is no stipulation of ceiling on annual income of the parents/guardians.

4) Employed persons intending to better their prospects can also avail loan for improving their educational qualifications and/or receive training in modern technology in India/ abroad provided the education/training received by them in India/abroad affords prospects for their better employment.For such persons, 'NO OBJECTION CERTIFICATE' from their employers is a pre-requisite.

Amount of Loan

This is co-related to expenses involved in taking up the course and the expected earnings after qualifying, subject to a maximum of:

For studies in India: Rs. 7.50 lacs

For studies abroad Rs.15.00 lacs

In case of part time computer courses, the extent of loan should not exceed Rs. 50,000/- per annum or fee fixed by the particular institutution (as per prospectus less concession,if any), whichever is less.

Rate of Interest
Loan upto Rs. 4 lac 12.00% p.a. *
Loan over Rs. 2 lac upto Rs. 15 lac 13.00% p.a. *
Loan over Rs. 15 lac 15% p.a.*
*This is subject to change from time to time.
The Interest shall be charged at simple rate from the date of disbursement till the commencement of repayment of loan and thereafter, compound Interest will be charged on reducing balance basis. 1/2% interest concession may be provided for the loanees if the interest is serviced during the study period.

Margin
NIL

Period of loan
Principal and Interest is repayable in 84 monthly instalments. Repayment will commence after two years of the completion of studies by the borrower or one month after his/her getting employment, whichever is earlier.

Purpose
For pursuing studies in recognised schools/ colleges/ institutions to meet: - Tution and other fees

- Maintenance costs, books and equipment etc.

- Cost of passage (for studies abroad)

Eligibility

For School / College education in India.

a) Minimum second division (Pass marks for SC/ST)

b) Parents / guardians (Including persons engaged in agriculture / allied activities having independent regular source of income.

Loan Amount

(I) School / College education in India: (Upto 6 times the monthly net (take home) income of the parents / guardian. Minimum loan of Rs. 4,000/- Maximum Rs. 1lac.

(II) Technical / Professional higher studies in India and Abroad 90% of the cost of study, subject to maximum of Rs. 8lacs.

Margin
10%

Interest Rate
At competitive rates on reducing balance only. Please check-up for latest rates at your nearest branch Interest is compounded at quarterly basis.

Period of Loan

(I) For School / College Education in India: Loans to be repaid in a period of 36months, commencing immediately after disbursal, by the parents / guardian.

(II) For Technical / Professional higher studies in India and abroad: The loan is to be repaid is 60 months after the completion of the course of securing job, whichever is earlier. Regular periodic repayment as much as possible should be made during the period of study. Quarterly interest should be paid regularly.

(III) Permitted without any penalty.

Purpose
You can take a loan for pursuing studies in recognised schools/colleges/ institutions to meet:

* Tuition and other fees
* Maintenance costs, books & equipments,etc.
* Cost of passage (for studies abroad)
* Caution fund/building fund/refundable deposit

Eligibility

* Should be an India National
* Secured admission to professional/ technical courses through Entrance Test/ Selection process
* Secured admission to foreign university/ Institution

Loan Amount

Need based finance subject to the repaying capacity of the parents/ students with margin and the following ceilings.
* studies in India - Maximum Rs.7.50 lacs
* studies Abroad - Maximum Rs.15 lacs

Margin

Upto Rs.4 lacs: No margin

Above Rs.4 lacs
* Studies in India: 5%
* Studies Abroad: 15%

Interest

Lowest interest rates

* While interest is not required to be paid during moratorium period, payment of the same before start of repayment would entitle you to concession in interest rate applied during the repayment holiday

Repayment of loan

Repayment Holiday - Course period + 1 year or 6 months after getting job, whichever is earlier.

The loan to be repaid in 5-7 years after commencement of repayment

Prepayments permitted without any penalty

Eligibility : Should have first class marks and have received admission. Repayment After completion of course.

Maximum Amount for India : Rs 400000
Maximum Amount Overseas: Rs 400000

Documents to be submitted : Mark Sheet and should have received admmission.

Time To Process : One and a half Months

Interest Rate
In India
Upto Rs 200000 : 12% pa,
Above Rs 200000 : 13.5% pa.
For Overseas
Upto Rs 200000 : 12% pa
Above Rs 200000 : 13.5% pa.
Third Party Guarantee required.

Age : Should be above 21 years of age.
Tenures : Maximum 5 years

Contact :
Delhi Tel : 5816062, 5749413
Bangalore Tel : 6708878, 6703717
Chennai Tel : 5383109,5387441
Hyderabad Tel : 4754603, 4754898
Kolkata Tel : 2103209
Mumbai Tel : 2073890

Eligibility : Admission approval

Maximum Amount for India : Rs 1000000
Maximum Amount Overseas : Rs 1000000

Documents to be submitted : Previous academic records,addmission approval, address proof,income proof,introduction.
Time To Process: A Forthnight

Interest Rate
In India
Upto Rs 400000 : 12.5%
Above Rs 400000 : 13.5%
For Overseas
Upto Rs 400000 : 12.5%
Above Rs 400000 : 13.5%
Collateral and Third Party Guarantee required.

Tenures : Maximum of 4 years
Repayment : Upto 16 months after completion of course.

Contact :
Delhi Tel : 5728842, 5729585
Bangalore Tel : 6631958
Chennai Tel : 5340902
Hyderabad Tel : 3203451
Kolkata Tel : 2200991
Mumbai Tel : 2856289, 2856391

Pre Requisites : The candidate should submit the proof of the admissions and the fee structure with the necessary credential of the college.

Eligibility : The Candidate of the candidate's guardian should hold an account in the bank. The candidate should be from the same place as the bank to avail the loan otherwise has to open an account in the bank of his choice and avail loan 6 months hence.

Interest: 14.5%

Coverage : Tuition fee.

Payment: The loan will be due to the bank till the end of the course of the candidate of till the candidate is employed ; whichever is earlier. The interest amount in the meanwhile should be paid back either by the candidate himself or by his guardian.

Eligibility : Graduation with 65% marks

Maximum Amount for India: Rs 750000
Maximum Amount Overseas: Rs 1500000

Documents to be submitted : Guaranty of father property's papers
Time To Process : 1 month

Interest Rate
In India
Upto Rs 25000 : 12%
From Rs 25000 to Rs 200000 : Rs 12.25%
Above Rs 200000 : 14.50%
For Overseas
Upto Rs 25000 : 12%
From Rs 25000 to Rs 200000 is Rs 12.25%
Collateral and Third Party Guarantee required.

Repayment : After employment Contact:

Contacts :
Delhi Tel : 6236549
Bangalore Tel : 2221878
Chennai Tel : 5341780
Hyderabad Tel : 3201990, 3203036
Kolkata Tel : 2101092
Mumbai Tel : 2613976

Maximum Amount for India : Rs 1500000
Maximum Amount Overseas: Rs 1500000

Documents to be submitted : Letter of authorisation from university, Copy of Passport & Visa, Salary slip,
Time To Process: 1 Week

Interest Rate
In India
Upto Rs 200000 : 12%
Above Rs 200000 : 15.5%
For Overseas
Upto Rs 200000 : 12%
Third Party Guarantee required.

Tenures : 3 to 5 Years
Repayment : 6 months after completion of course

Contact :
Delhi Tel : 3360661, 3363416
Bangalore Tel : 5582179
Chennai Tel : 4941834
Hyderabad Tel : 4756994
Kolkata Tel : 2487470-72
Mumbai Tel : 2871261-62

Purpose : The scheme extends a helping hand to a meritorious student desirous of pursuing higher studies either in India or abroad.

Courses approved
Studies in India

* Graduation Courses in recognised universities leading to degrees like B.A., B.Sc, B.Com, B.Tech, B.E., MBBS etc.
* Diploma/Certificate courses from recognised universities or Govt. recognised institutes in disciplines of Engineering, Medicine,    Agriculture, Computer, Tourism, Hotel Management and such other technical/professional courses.
* Chartered Accountancy and Cost & Work Accountancy from the Institute of Chartered Accountants of India and Institute of Cost    & Works Accountants of India respectively.
* Post Graduate Courses leading to degrees like M.A., M.Sc., M.E., M.Tech, MBA, M.S. M.D. etc.
* Post Graduate Research studies in Pure & Applied Sciences, Economics and other Social Sciences etc. in a recognised university    leading to Doctoral Degree.

Studies Abroad
Full time Post Graduate or Doctoral Programmes in Engineering, Medicine, Technology (Pure & Applied Sciences), Agriculture, Computer Science, Business Administration, Economics and other Social Sciences.

Amount of loan
Actual Loan Amount will be determined as per requirements of the student subject to maximum of Rs.4 lakh. The loan amount under the scheme would consider meeting the following expenses :

* Course Fees
* Hostel/Boarding Fees
* Cost of Books/Journals
* Stationery & Equipment required for the course
* Examination Fees
* In addition to above, for studies abroad, cost of air passage may be considered if requested by the student.

Eligibility : Should have a good academic record.

Maximum Amount for India : Rs 750000
Maximum Amount Overseas: Rs 1500000

Documents to be submitted : Academic Records and admission approval.
Time To Process : A Fortnight

Interest Rate
In India
Upto 400000 : 13%
Above 400000 : 13.5% pa.
For Overseas
Upto 400000 it is 13%
Above 400000 : 13.5% pa.
Collateral and Third Party Guarantee required.

Tenures : Maximum 7 years
Repayment : After completion of course

Contact :
Delhi Tel : 5725701
Bangalore Tel : 2251416
Chennai Tel : 5245070
Hyderabad Tel : 4657515, 4653064
Mumbai Tel : 5220700, 5226465

Name of the scheme : Union Education loan scheme

Eligibility : High school graduate, college graduate /postgraduate. For job oriented courses: MBA,MCA, MS etc.

Course Eligibility : School education including +2 stage, professional courses, management courses etc.

Studies abroad : Job oriented professional/technical courses, postgraduation: MCA. MBA, MS etc.

Courses conducted by : CIMA London,CAP USA etc.

Amount : Rs 7.5 lacs for studies in India and Rs,15 lacs for studies abroad.

Purpose : For poor and needy students to undertake higher professional/technical education.

Margin : No margin may be insisted upon for loan upto Rs 4.00 lacs. However, for loans of higher amounts, the margin requirement may be 5% for inland studies and 15% for studies abroad
Scholarship/assistance to be included in margin
Margin may be brought in on year-to-year basis as and when disbursement are made on a pro-rata basis.

Security : No collateral security will be insisted upon for loans upto Rs 4.00 lacs. However, for loans above this amount, collateral security of suitable value or co-obligation of parents/guardians/third party along with the assignment of future income of the student for payment of installments is required.
An LIC Policy/Convertible Whole Life Assurance Policy for a sum not less than loan amount be taken out in the name of the student and got assigned in Bank's favour.

Interest rate : Upto Rs 4 lacs --- PLR
Above Rs 4 lacs --- PLR + 1%
Simple interest will be calculated during Repayment holiday / Moratorium period

Repayment : Repayment holiday/moratorium: course period +1 year or 6months after getting a job. Loan repayment to be completed within 5-7 years after commencement of repayment.

Nature of loan : The purpose of the product is to provide financial support to deserving students for pursuing higher professional/technical education in India and abroad. The loan would be provided to students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.
Quantum of Loan

The quantum of finance under the scheme is capped at Rs. 7.5 lakhs for studies in India and Rs. 15 lakhs for studies abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc. The minimum amount of loan would be Rs. 50,000/-.

Margin : No margin for loans upto Rs. 4 lakhs. For loans above Rs. 4 lakhs, 5% margin for studies within India and 15% for higher studies overseas.

Rate of interest : At PLR, currently not exceeding 12% p.a.

Role of the Guardian : The parent(s)/guardian of the student would be treated as a co-applicant of the loan. His/her role would be, necessarily, like the primary debtor. He/she would be responsible for the payment of the interest accrued on the loan account, prior to the commencement of the EMIs.

Security : Third Party Guarantee: It is necessary to have a 3rd party guarantee agreement in place, especially in cases where the loan would be not be secured by liquid collaterals (e.g. Units, FDs, NSCs, paid-up LIC policies, etc.). The guarantor should not be a close relation of the student (i.e. parents/siblings/spouse, etc.) and should be good for 100% of the loan amount. No 3rd party guarantee need be insisted upon for loan upto Rs. 4 lacs. Computers and other related hardware financed under the scheme would have to be, necessarily, charged to the Bank as primary security.

Repayment : The loan would be repayable in a maximum of 84 instalments from the commencement of repayment. The 1st instalment would be due 1 year after the completion of the course or 6 months after getting a job, whichever is earlier. However the total tenure of the scheme, i.e. from the date of the 1st disbursement to the date of the last instalment, should not exceed 12 years. The periodical interest applied on the loan account, prior to the commencement of the actual repayment, should be recovered from the account of the co-applicant, as and when due.

Eligibility : For studies in IndiaA student of Indian Nationality is eligible to apply for the loan provided he/she has secured admission to the institution/college/university.

Approved courses : Full time courses (Diploma, Teachers' Training, graduation or Post graduation and Doctorate studies) in all branches of medicine, engineering, agriculture, CA/ICWA/ACS, Computer Science, Architecture, Business Administration, Law, Arts, Science, Commerce, Hotel Management, Nursing and Pharmacy (except Foreign University Degree courses offered in India)

Amount of loan : The bank provides a loan of Rs.10000/- for a student's education at a junior college; teacher's training course and other short-term courses that are approved by the Government.Loans worth Rs.50000/- are also offered to students who wish to do a polytechnic course/computer course, or desire to pursue graduation/post-graduation in any discipline, such as arts, commerce, science, pharmacy, agriculture & fisheries.A maximum amount of Rs.4 lakhs for graduation/post-graduation in engineering, architecture, dental science, medicine, chartered/cost accountancy & business administration courses, offered by a reputed institution.

Margin : No margin for loans up to and inclusive of Rs.25000/- and a minimum margin of 25% for loans above Rs.25000/-

Repayment : Repayment of the loan commences from the 6th month after the student completes his/her course or the 3rd month of securing a job, whichever is earlier. The loan is to be repaid within a maximum period of 6 months depending upon the repayment capacity.

For studies abroad :
Eligibility : Meritorious students who have been selected for any course in foreign universities are eligible to avail of the foreign education loans.

Amount of loan : The bank provides Rs. 10,00,000/- as a loan for his/her education at a foreign university.

Margin : 25% (To be brought pro rata as and when disbursements are made)

Period of loan : The loan is repayable in 60 monthly installments. Repayment of the loan is to commence 6 months after the student completes the course or completion of 3rd month after securing a job, whichever is earlier.

Eligibility : Admission approval

Maximum Amount for India : Rs 750000
Maximum Amount Overseas : Rs 1500000

Documents to be submitted : Previous academic records,addmission approval, address proof,income proof,introduction.
Time To Process : 2 Weeks

Interest Rate
In India - 16.5%
For Overseas - 16.5%

Tenures : On Course length.
Repayment : After completion of course

Contact :
Delhi Tel : 3329212
Bangalore Tel : 2235189, 2230511
Chennai Tel : 8522244
Hyderabad Tel : 4753725, 4750798
Kolkata Tel : 2425440, 2423509
Mumbai Tel : 2882666, 2884247