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