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September 12th, 2016, 06:13 PM
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Join Date: Mar 2012
Re: State Bank Of Travancore Education Loan Interest Rate

State Bank of Travancore Education Loan Scheme Provides Financial Assistance to Deserving Students so that they can pursue college Education, technical, professional or vocational course in India/ abroad

Eligible Courses:

Studies in India:


Graduate/ Post Graduate degree and PG diplomas conducted by approved colleges/ universities, recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR, etc.
Courses like ICWA, CA, CFA.
Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID

Studies Abroad:


Job-oriented professional/technical courses offered by reputed universities for Graduation
Post-graduation in MCA, MBA, MS, and so on
Courses offered by CIMA-London, CPA in USA, etc.
Degree/diploma courses like Aeronautical, Shipping, etc. that are recognized by competent regulatory bodies in India/abroad for the purpose of employment.


Interest Rates:

For loan amount up to Rs. 4 lakhs, the interest rate is 13.90%.
For loan amount between Rs. 4 lakhs and Rs. 7.5 lakhs, the interest rate applicable is 13.65%.
Interest rate applicable for a loan amount above Rs. 7.5 lakhs, is 13.15%.

Processing Fees:

For loan amount up to Rs. 4 Lakhs - 0.5%
Above Rs.4 lacs : 0.4%

This is refundable upon availing 1st instalment of the loan.

Repayment Tenure:

Repayment is to begin within 1 year of completion of the course or 6 months after getting a job, whichever is earlier.
The loan has to be repaid within 10-15 years from commencement of repayment.

Maximum Loan Limit:

For studies in India : Rs. 10 lacs
For studies abroad : Rs. 20 lacs

Security:

Loans upto Rs.4 lakhs:
Co-obligation of parent/ guardian/ spouse/ parent-in-law/ grandparents as the case may be.
No security.

Margin:

Upto Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies abroad : 15%


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