The applicant must have passed at least class 12th or equivalent
Admission approval of the institute or college, certificate of the last
course attended. For salaried parents: six month salary slip of the
parent, IT Form 16, Bank Statement. For self employed parents: 3 years'
income tax return, profit and loss statement and balance sheet.
Within a period of fifteen days.
40% of the market value of mortgage or on the income of the Parent (for
studies either in India or abroad)
Rate of Interest
For study in India: 13.25% on annual reducing balance. In this case, the
collateral and the third party guarantee are required.
Soon after the loan is disbursed.
Since the rules, regulations, eligibility conditions, repayments and
interests rates etc. are revised by the banks from time to time in keeping
pace with the changing capital market conditions, students and parents are
advised to thoroughly check the terms and conditions of educational loan
scheme on offer at the time of application.
Ramon House, 6th floor 169
Backbay Reclamation, Mumbai - 400 020