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Target Group

  • 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).
  • Where the admission is purely based on the marks scored in qualifying examinations then the cut off marks for loan eligibility is 50%.
  • Meritorious Students admitted under Management Quota are also eligible for loan.


Educational Loan Scheme aims at providing financial support from the banking system to meritorious students for pursuing higher education in India and abroad.
A meritorious student, though poor, is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions.

Courses eligible

Studies in India (Indicative list):

  • Approved courses recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.

Studies abroad:

  • For job oriented professional/ technical courses offered by reputed universities.

For details, please visit Bank’s website.

Expenses considered for loan

  • Fee payable to college/ school/ hostel and other related expenses.

For details, please visit Bank’s website.

Loan amount

Study in India:
Up to Rs.20 Lac depending on the Institute. (List of the Institutes is available on Bank’s website.)
Study abroad: Rs.50 Lac.


  • Up to Rs.4 Lac: Nil
  • Above Rs.4 Lac: in India—5%; abroad—15%

Rate of Interest*


Moratorium period

Course Period plus one year.


  • The loan documents should be executed jointly by the student and the parent (s)/ guardian as joint-borrower.
  • Up to Rs.4 Lac – no collateral security
  • Above Rs.4 Lac – (depending on the Course / Institutes) security varies from third party guarantee, co-obligation of parents, full collateral security


  • up to  15 years

Processing Fee

For studies in India
For loan amount above Rs.10.00 Lac -- 0.15%, maximum of Rs.3000/-
For studies abroad
For loan amount above Rs.20.00 Lac -- 0.10%, maximum of Rs.5000/-