Education Loan Scheme

Eligibility :
	Student Should be an Indian National Should have secured admission to professional/ technical courses through entrance test/ selection process. Should have secured admission to foreign universities/ institutions Should have passed the qualifying examination for admission to the courses. Employed person intending to improve their educational qualification and/ or receive training in modern technology in India or abroad can also be assisted under this scheme provided training offers prospects of better placement. Courses Graduate / P.G Courses in : Medicine, Surgery, Engineering, Hotel Management, Design, Architecture, Bio-chemistry, Agriculture, Veterinary etc. P.G Courses in : Business Management, Chartered or Cost Accounting , Company Secretaryship.
Loan Details
	Quantum For studies in India - Rs.7.50 Lacs For studies Abroad - Rs.15.00 Lacs Margin For loans upto Rs. 4 lacs - nil For loans above Rs. 4 lacs - Studies in India - 5% - Studies abroad - 15% Security Personal guarantee of borrower/ 's Collateral security equal to amount of loan.
Rate of Interest
	Upto Rs.25,000 - 9% p.a Rs.25,001 to Rs.5.00 Lacs - 10.50% p.a Above Rs.5.00 Lacs - 11.50% p.a
Repayment
	Repayment Holiday/ Moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier The loan to be repaid in 5 to 7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum of two years.