#1
October 9th, 2017, 04:23 PM
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Education Loan In North Malabar Gramin Bank
Would you please let me know more about education loan offer by North Malabar Gramin Bank to customer’s?
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#2
October 10th, 2017, 09:19 AM
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Re: Education Loan In North Malabar Gramin Bank
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 |
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