TMB Education Loan Scheme

Eligibility :
	Student Should be an Indian National. Secured first class and wish for admissions in Professional / Technical / Other Courses of various studies. Secured admission to foreign University Institutions. Any Student who has attained the age of 18 years or Parent of the Student can avail the loan. Courses Studies in India School education / Graduation / Post Graduation Courses. Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc. Courses like ICWA, CA, CFA etc Courses conducted by IIM, IIT, IISc, XLR1, NIFT etc. Courses offered in India by Reputed Foreign universities. 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.
Loan Details
	Coverage of Expenses Fee payable to College / School / Hostel. Examination / Library / Laboratory fee. Purchase of Books / Equipments / Instruments / Uniforms. Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts. Travel expenses / passage money for studies abroad. Purchase of computers - essential for completion of the course. Any other expense required to complete the course - like study tours , project work, thesis etc. Quantum For studies in India - maximum Rs.7.50 Lakhs For studies Abroad - maximum Rs.15.00 Lakhs Margin Upto Rs. 4.00 Lakhs - Nil. For loans above Rs. 4 lacs - Studies in India - 5% - Studies abroad - 15% Security Upto Rs. 4.00 Lakhs - No Security Above Rs.4.00 Lakhs upto 7.50 Lakhs Suitable Third Party Guarantee Above Rs. 7.50 Lakhs and upto Rs. 15.00 Lakhs - 100% collateral in any of the form of Immovable property / NSC / Units of UTI / LIC policy / RBI Bonds or any transferable Government securities. Guarantee / Co-obligant Guarantee of Parents. In case, the loan is sanctioned to Parents suitable third party guarantee is to be obtained. Wherever loan is sanctioned to Parents, guarantee is to be obtained from the student on attaining his majority. Processing Charges 0.50% of the Loan Amount For Loans upto Rs. 50,000.00 Minimum Charges is Rs. 100.00 For Loans above Rs. 50,000.00 Minimum Charges is Rs. 500.00 and Maximum Charges is Rs. 1,00,000.00
Rate of Interest
	Upto 4 Lakhs - PLR - 1.00% (13.00% p.a.) Above 4 Lakhs upto 10 Lakhs - PLR - 0.50% (13.50% p.a.) Above 10 Lakhs upto 20 Lakhs (With 100% Collateral Only) - PLR - 2.00% (12.00% p.a.)
Repayment
	Holiday / Moratorium Period: Course Period + 6 months after completion of the course. If the student got employed within 6 months after completion of the course, the repayment should start immediately after the expiry of one month from the date of employment. Maximum Repayment period of Loan: The loan to be repaid in 5-7 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 period of 2 years. If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extensions as may be deemed necessary to complete the course