What’s New

Education Loans

  1. Introduction

    Our Rural area needs educated manpower.  Lending for the purpose of education has attained a national priority.  It should  be our endeavour  to extend financial help to promising students from Rural area in the pursuit of their education.

  2. Classification Of Loans
    Educational Loans may be issued fort he following purposes
           i) For studies in India.
           ii) For studies Abroad.
          iii) Education Loan to Children’s of our Employees.

  3. Eligibility criteria for Studies in India
        Eligible Courses All recognised Courses (By respective State Govts./Universities) from High School
        (VIII Std.) to Ph. D.

    (Note :  The loan under the Scheme shall not be made available to pursue education at Nursery,  Primary,  Middle School and Correspondence Courses)
    Eligible Person :a. Minors represented by Parents / Guardians.
                              b. Major students with co-obligation of parents.

    Eligibility Conditions : The student should score following minimum marks.

                                             MINIMUM MARKS TO BE OBTAINED

                 Course                SC/ST  Beneficiaries              Others

            1. High School                     35% Pass                         50%

            2. Junior College                 35%                                 50%

            3. Graduation                       40%                                 50%
                           
             (Preference will be given to Agricultural oriented Fields)

            4. Post Graduation              40%                                  50%

            5. Technical Diploma         50%                                  60%

                                                 (In Optionals)                    (In Optionals)

            6. Technical Degrees         50%                                 60%

                                                (In Optionals)                    (In Optionals)        

  4. Quantum /Scale of  Finance/Need based finance comprising cost of Books and Equipment, College fees,  Examination fees,  Hostel Charges and Uniform etc.,

  5. Margin  :   Upto Rs. 25,000/-             -            Nil

                      Beyond Rs. 25,000/-        -           25%
  6. Security  :   One Co-obilgant.

  7. Rate of Interest  : As decided by the bank from time to time.