Educational Loans
I-Career Consultancy in Association with some nationalized banks has lined up an entire basket of tailor-made services. We'll show you the best way to fund your overseas education, the convenient way to carry foreign exchange and the easiest way to travel abroad.
Expenses covered in a loan
- Fees payable to college/School/Hostel.
- Examination / Library / Laboratory fees.
- Purchase of Books / Equipment / Instruments.
- Caution Deposit / Building Fund / Refundable Deposit.
- Travel Expenses / Passage money for studies abroad.
- Purchase of computers considered necessary for completion of course.
- Any other expenses required to complete the course like study tours, project work etc. are also eligible.
Amount of loan given and Interest, Margin details
| Amount | Interest | Margin money |
|---|---|---|
| Upto Rs. 4 Lakh | 10.50% P.a. | No margin is required |
| Rs. 4 lakh -Rs.20 Lakh | 11.5% | 15% |
Repayment of loan.
Repayment of loan will commence one year after completion of course or after six months of securing a job.
| AMOUNT | REPAMENT | SECURITY |
|---|---|---|
| Upto Rs.4 Lakhs | 5 -7Years | No Security |
| Rs.4 Lakhs -Rs. 7.5 Lakh | 5-7 Years | Third party Guarantee |
| Rs.7.5 Lakh - Rs.15 lakh | 5-7 years | Tangible collateral, security of suitable value of loan or third party guarantee |
| Rs. 15 Lakh -Rs. 20 Lakh | 5-10 Years | Tangible Collateral, security of full Value of loan |
Documentation required to process the loan
- Completed Education Loan Application Form.
- Mark Sheets of your last qualifying examination.
- Proof of admission, Scholarship, studentship etc.
- Schedule of expenses for the specified course.
- 2 Passport size Photographs.