First of all I would like to tell you that North Malabar Gramin Bank is now Kerala Gramin Bank and here I will gather details of education loan.

Eligibility
The student should be Indian National.

Minor student should be represented by parent/guardian.

Loan shall be in the joint names of student and parent/guardian.

Student should have secured admission for higher education in recognised institutions in India or abroad through a merit based selection process.

Limit & Margin
Limit
In India - Upto 10 lakhs; subject to Course wise cap
Abroad - Upto 20 lakhs; subject to Course wise cap

Margin
Upto 4 lakhs - Nil
Above Rs.4 lakh for Studies in India -5%
Abroad -15%

Security
Loans upto Rs. 4 lakh
No security, Parent should be joint borrower.
Assignment of future income of the student, for payment of installments

Loan above Rs.4 lakh and upto Rs. 7.5 lakh
Parent should be joint borrower
Third party guarantee having net worth to cover the loan amount
or equitable mortgage of landed property with sufficient value, covers at least 150% of the loan amount
Assignment of future income of the student, for payment of installments

Loan above 7.5 lakh
Parent should be joint borrower
EM of landed property with sufficient value, covering atleast 150% of the loan amount.
Assignment of future income of the student, for payment of installments

Repayment
For loans above 7.5 lakh, maximum repayment period is 15 years

For loans above 5 lakh, maximum repayment period is 10 years

Moratorium period (Course period + one year or 6 months after getting job whichever is earlier) is avialable.

Address:-
Kerala Gramin Bank
AK Road, Uphill,
PB No. 10,
Malappuram, Kerala, India,
PIN. 676 505.

Phone:-
0483 2733509