Ratnakar bank is one of the quickest developing booked business bank of India. Granted by a few awards, the Ratnakar bank has some expertise in particular administrations in taking after classifications to be specific business managing an account, retail saving money, monetary markets, corporate and institutional keeping money and farming and development banking.

Eligibility Criterion
To fall eligible for the Ratnakar bank education loan, an applicant must take notice of the following conditions prior to apply for the loan in order to avoid the rejection of the application.
• The applicant must be an Indian National.
• Parents may apply conjointly with the applicant and ease the repayment of loan via subsisting means of income.

Purpose of Loan
• To buy books, equipment, instruments,payment of admission fee and tuition fee etc.
• To pay for hostel/college/school fees and boarding cost.
• For studies outside India, disbursals in air travel, purchase of uniform.
• To fund relevant expenses incurred which are related to subject’s education like exams, lab, library fee, deposits.

Eligible Courses
In India
All UGC / Govt./AICTE/Department of Electronics / IMC approved Graduation, Post-graduation courses including technical / professional programs. Courses offered by autonomous institutions like IIT & IIM.

Studies abroad
Job orientated, technical / professional courses as both graduation and post-graduation.

Quantum of loan
The loan is sanctioned on the basis of the need of the applicant to pursue studies from a desired collage/universities.
• In India: Maximum up to 7 lacs
• Abroad: Maximum up to 15 lacs

Nature of Loan
It is a term loan granted after inspecting the repaying capacity of the applicant or his/her parents or Guardian.

Margin
• There is nil margin for loan amount which is up to Rs. 4.00 Lacs.
• There is 5% margin for loan amount which is more than Rs.4.00 Lacs, be it a loan applied for studies in India or a loan applied for studies in foreign countries.

Loan Security: The bank askes for no security for loan sanctioned up to Rs. 4 lacs.

Processing Fee
There is no processing charges for loan of any limit and for study in India & abroad.

Interest Rate of the education loan

Education loan amount
Rate of Interest

Up to Rs. 4 lacs
Prime lending rate (PLR) = 13.5%

More than Rs. 4 lacs
Prime lending rate (PLR) + 1% = 14.5%