Loan and Advances

What is the Eligibility Criteria For Education Loan in India ?

Student eligibility: The student should be an Indian National.Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases, banks will have to adopt appropriate criteria based on...

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Education Loan

What are the Course Eligible For Education Loan ?

Courses Eligible : a) Studies in India: i) Approved courses leading to graduate/ post graduate degree and P G diploma conducted by recognized colleges/ universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc. ii) Courses like ICWA, CA, CFA etc. iii)Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID D etc. iv)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. v)Approved courses offered in India by...

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Education Loan

What is the Quantum of Finance Under Education Loan ?

Need based finance to meet the expenses worked out as per eligible expenses referred above will be considered taking in to account margins as per Sl no 5 mentioned below subject to the following ceilings: -Studies in India -Maximum upto 10 lakhs. -Studies Abroad -Maximum upto 20 lakhs. Note: The ceilings fixed for studies in India and Abroad correspond to the limits fixed by the RBI for treatment as priority sector lending. It would, however, be open to banks to...

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Education Loan

How To Get Education Loan for Nursing Courses ?

The Indian Nursing Council gives permission to Nursing colleges to start new courses for a period of 1 year which is renewed on a yearly basis. The practice of renewing the permission is done on a year-to-year basis for both the existing nursing colleges as well as the new nursing colleges. Banks could consider applications from student borrowers seeking education loan for pursuing nursing courses in these institutions which are having provisional approval / recognition.

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Education Loan

How To Get Education Loan By NRI’s ?

Requests received from NRIs can be considered if student is Indian passport holder and they meet other eligibility requirements. However, it would be necessary to accept as security any collateral which is enforceable in India.

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Loans & Advances

What is Perpetual Bonds ?

These are securities without any maturity.

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Loans & Advances

What is External Commercial Borrowing (ECB) ?

ECB refer to borrowings by corporate & FIs from international market. ECBs are part of India? overall external debt. ECB is permitted for import of capital goods, implementation of new projects, modernisation of existing production units. Use of ECB for on lending or investment in capital market or acquiring a company including RE is not permitted. ECB more than USD 20 million per borrower per financial year is permitted for foreign currency expenditure & has to parked overseas for as...

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Loans & Advances

What is Loan Amortization ?

This is generally the term used in paying Loan installments.The reduction of an amount at regular intervals over a certain time period.

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Frequently Asked Question

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What is the Eligibility Criteria For Education Loan in India ?

What are the Course Eligible For Education Loan ?

What is the Quantum of Finance Under Education Loan ?

How To Get Education Loan for Nursing Courses ?

How To Get Education Loan By NRI’s ?

What is Perpetual Bonds ?

What is External Commercial Borrowing (ECB) ?

What is Loan Amortization ?

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