Eligibility of State Bank of Travancore Education Loan

The student should be an Indian National and

i) have secure admission to professional technical courses through entrance test merit based selection process.

ii) have secured admission to foreign university institution.

Eligible Courses

Studies in India

• Graduation courses, BA, B.Com, B.Sc, etc
•  
• Post Graduation courses, Master and PhD.
• Professional courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
• Other courses leading to diploma, degree etc.
• Courses offered by National Institutes and other reputed private institutions.
• Evening courses of approved institutions.
• Course offered in India by reputed foreign university
• Computer certificate course of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.
• ourses like ICWA, CA, CFA, etc. Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
• Graduate course in nursing studies.

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.

Loan Amount

For studies in India Rs.10 lacs

For studies Abroad Rs.20 lacs

Margin of Loan

Up to Rs.4 lac – Nil

Above Rs.4 lac- I) studies in India – 5% and Studies Abroad- 15%

Rate of Interest : 13.00%

Repayment of Loan

To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.

Security of Loan

No security for loan up to Rs.4 lacs

Above Rs.4 lacs and up to Rs. 7.5 lacs collateral in the form of a satisfactory third party guarantee requited if the parent(s) has sufficient worth the condition regarding the above may be waived.

For loan amount or c0-obliation equal to the loan amount or co-obligation of parents guardian third party along with assignment of future income of the student for payment of installments may be obtained.

Security can be in the form of land building Govt. securities public sector bonds units of UTI, KVP, LIC Policy, Gold, Shares debentures, bank deposit in the name of student parent guardian or any other third party with suitable margin.

Processing Fee

No processing fee for studies in India

Documents Submitted to the State Bank of Tranvancore

• Tow copies of Passport size photograph
• Testimonials in original from the head of the institution and from one or two other respectable persons not related to the student.
• Proof of admission to the course.
• Schedule of expenses for the course.
• Copies of foreign exchange permit (if applicable)
• Copy of salary slip statement of income of parent guardian.