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  #1  
June 13th, 2016, 04:59 PM
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SBBJ Scholar Loan Scheme

Hi buddy I want to do higher study and for it know detailed info of State Bank of Bikaner and Jaipur (SBBJ) Scholar Loan Scheme, so can you plz tell me about it ??
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  #2  
June 13th, 2016, 05:17 PM
Super Moderator
 
Join Date: Mar 2013
Re: SBBJ Scholar Loan Scheme

As you asking for State Bank of Bikaner and Jaipur (SBBJ) Scholar Loan Scheme, so I am telling , this bank offered scholar loan which also known as education loan to offer financial support to meritorious students, helping them to pursue higher education in India and abroad.

Eligibility
Candidates Should be an Indian National.
Student who have insured admission to a higher education course in distinguished institutions in India and Abroad through relevant Entrance Test or selection based on merit process after completion of HSC (10 plus 2 or equivalent).

Loan Quantum
Need based finance with the following ceilings:
For studies in India up to. Rs.10 lacs
For studies abroad up to Rs.20 lacs

Margin
Upto to Rs.4.00 lacs – Nil
Above Rs.4.00 lacs
For studies in India : 5%
Studies in foreign countries : 15%

Security for loan
Upto Rs.4 Lakhs – No security .Only to take co-obligation of either or both parents/guardian
From Rs.4 Lakhs to Rs 7.50 Lakhs: Collateral in the form of satisfactory third party guarantee
Above Rs.7.50 Lakhs: Mortgage security of suitable value

Interest Rates
Interest rates are subject to changes from time to time, at present time for female applicant –Relaxation of 0.50% on PLR.

For loan to study in premier institutions – Relaxation of 1.00% on PLR.
Concession of 1% on Interest if it is completely paid during the study period of time.

Repayment
It starts a year after completion of the course or six months after getting employment, whichever is earlier.

Repayment of the education loan to be distributed in equated monthly installments (EMI).

Loans up to 7.5 lacs – up to 10 years

Loans up more than 7.5 lakhs – up to 15 years


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