|
Eligible Courses
|
(a) All
courses recognized by state/ central Government are covered, like
Diploma/
Certificate.
Graduate /
Post Graduate.
Management
Courses approved by All India Council for Technical Education.(AICTE).
Other
specialized Courses like C.A/ ICWA/Ph.D,etc.Computer education courses
recognized by Department of Electronics.
(b) Studies Abroad
Graduate/Post
Graduate /Ph.D.
Management
/ Computer Education.
Other
specified courses approved by the University abroad.
|
| Amount of
loan |
(a) In India
A. Technical/
Certificate Courses upto Rs.50,000/-
B. Graduation (except following)upto Rs.75,000
Graduation/Post
Graduation in
| COURSE |
FREE SEAT
|
PAYMENTS SEAT
|
| (i) Medicine |
Upto Rs.2.25 lakes
|
Upto Rs.5.50 lakes
|
| (ii) Dental |
1.80
|
3.75
|
| (iii) Ayurved |
1.25
|
4.50
|
| (iv) Homeopath |
1.75
|
3.00
|
| (v) Physiotherapy |
1.50
|
2.00
|
| (vi) Pharmacy |
1.25
|
2.00
|
| (vii) Engineering/ Technology |
1.75
|
2.75
|
| (viii) Architecture |
2.00
|
3.50
|
Diploma in
Engineering Course : Up to Rs.1.50 lakh
Management
/Computer Course :Up to Rs.1.50laks
(b) Study Abroad
(i) Graduation
& Other Courses upto -3- years duration : Rs.10 lakh
(ii) Post
Graduation & Other advance study : Rs.15 lakh
|
|
Age
|
(i) For
Diploma / Certificate / Graduate / Post Graduate Courses upto .....28
years, and
(ii) For
other specialized Courses like Manager / Compute education / C.A / C.S / PhD
etc... upto 30 years.
(iii) Relax able in case of student belonging to SC / ST upto 2
years. For others,
relaxation in at the level of zonal managers / General Managers.
|
|
Coverage
|
The loan
assistance means to cover
(i)
Admissions / Tuition fees.
(ii) Hostel
/ mess charges.
(iii)
Examination fees.
(iv) Cost
of books, stationery, equipment, instruments etc.
The
Purposes Mentioned above should form essential part of the curriculum to
be eligible for finance. For studies abroad one way air ticket i.e.
passage money etc. may also be considered.
|
|
Margin
|
a) In India
for limits
upto Rs.25,000/-......................................nil
for limits
above Rs. 25,000/- and upto Rs.1 lakh .......10%
above
Rs.1 lakh...................................................15%
b) For
studies abroad............................................20%
|
| Interest |
The rate of
interest will be as per RBI guidelines from time to time, the present
interest rate structure is as under :
(i) Limit
upto an inclusive of Rs.25,000/-...........11.75% + Int.Tax
(ii) Over
Rs. 25000/- and upto Rs.2 lakhs..........12% + Int.Tax.
(iii) Over
Rs. 2 lakhs and upto Rs.5.5 lakhs .......11.25% Int. Tax
(iv) Over
Rs.5.5 lakhs PLR + 12.75 %
(V)
Students satisfying DRI eligibility, criteria - for loans upto
Rs.6,500/-..........4%
|
| Repayment |
In
monthly installment, to commencing - 6 - months of after the completion
of course , or - 1 - month after securing job, whichever is earlier ; but
within the overall period of - 60 - months reckoned from the date of
completion of course. Students learning the course in complete or not
successful, to repay within - 60 - months from dis-continuation of course
or declared unsuccessful as the case may be. |
| Security |
(i). Demand
Pro - note.
(ii)a) For
loans upto Rs.25,000/- parents / guardian guarantee will be sufficient.
b) For
loans above Rs.25,000/- third party guarantee of a person acceptable to
Bank with adequate means in addition to the guarantee of parent / guardian
to be obtained.
(iii) In
respect of loans above Rs.50,000 /- tangible security such as FDR / NSC /
UNITS/ SHARES / DEBENTURES Equitable . MORTGAGE / surrender value of LIC
Policy etc. to be taken in addition to guarantee from parent / guardian.
Students
who have attended the age of majority may be granted loans in their own
names or jointly with their parents / guardians of the minor.
|
| Eligibility |
All
students who are not gainfully employed and have secured admission to any
of the recognize courses in recognize universities/colleges/institution's
approval by the state/Central Government job oriented Courses. Certificate
course recognized by Government/ Universities, any foreign University's
recognized courses.
|
