Education Loan

Purpose:

• Studies in India (Indicative List):
• Approved courses leading to graduate/post graduate degree and PG diplomas conducted by recognized colleges / universities recognized by UGC / Govt. / AICTE / AIBMS / ICMR etc.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
• Regular Degree / Diploma courses like Aeronautical, pilot training, shipping, etc., approved by Director General of Civil Aviation / Shipping, if the course is pursued in India.
• Approved courses offered in India by reputed foreign universities.



Note:

• The above list is indicative in nature. Bank may approve other job oriented courses leading to technical / professional degrees, post graduate degrees / diplomas offered by recognized institutions under this scheme



Expenses considered for Loan:

• Fee payable to college / school / hostel
• Examination / Library / Laboratory fee
• Travel expenses / passage money for studies abroad
• Insurance premium for student borrower, if applicable
• Caution deposit, Building fund / refundable deposit supported by Institution bills / receipts.
• Purchase of books / equipments / instruments / uniforms
• Purchase of computer at reasonable cost, if required for completion of the course,
• Any other expense required to complete the course - like study tours, project work, thesis, etc
• While computing loan required, scholarships, fee waiver etc.,if any available to the student borrower may be taken into account.
• If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government