|Eligibility of borrower||* Applicant must have current/savings account holder of the Bank
* Applicant must be resident of area of operation of the bank.
* Have good reputation and credit worthiness.
* Student must have good academic record.
* Student must have secured admission.
* Student must have passport & visa for abroad education.
|Purpose of Loan||* For higher educational courses like Diploma,Graduation, Post-Graduation, and Specialized courses in India & Abroad.|
|Quantum of finance||* Up to 75% of the cost of books,instruments, tuition fees, hostel fees(lodging & boarding)
* Maximum loan amount Rs. 15.00 lac.
|Share Linkage||Borrower must have Bank share holding @ 1% of the loan sanction amount.|
|Repayment period||60 Monthly installments including interest immediately after next month of the loan disbursement.|
|Rate of Interest||10% p. a.|
* LIC Policy equivalent to the loan amount of the student to be assign to the bank
* Third party guarantee of two personal guarantors having good credit worthiness and financially sound and member of the Bank.
* Simple mortgage of title cleared property of the borrower/ guarantors.