Parents/ Guardians of students pursuing school education from Nursery standard to 12th Standard.
- Admission fees including caution money, building fund, refundable other deposits, maintenance fees etc.
- Annual fees including Development fees, Examination fees, Library/ Laboratory fees, Hostel charges and other fees related to Hostels, purchase of Books, Equipment, Uniforms, Computer etc.
- Tuition Fees to be paid in advance on quarterly/half-yearly/yearly basis.
- Should be an Indian national residing in India.
- Student should have secured admission to a Recognized/Affiliated and Reputed School/High School / Junior School / College (including
- CBSE/ICSE/State Board) for courses under Nursery standard to 12th Standard identified/ approved by the respective Zonal Office of the Bank.
- Need based finance subject to the repaying capacity of the parents,
- Maximum limit limit of the quantum of finance - Rs.1 lac, including all types of expenses or any of the expenses under the scheme as mentioned above,
- Net combined income of the parents'/guardians' should be above 40% of gross income, after considering the EMI of the proposed loan.
Margin : NIL
*Subject to Change without prior notice.
- No tangible/collateral security is required,
- However, a concession of 100 basis points would be allowed for 100% security cover of the loan amount by way of immovable property/other liquid security,
- Personal guarantee of the parents/guardian/s.
The loan is repayable in three years by 36 Equal Monthly Installments to be paid by Post Dated Cheques (PDCs).
However, if the loan is taken for quarterly/half yearly expenses, the repayment period would be adjusted in line with
the periodicity of the expenses.
First installment will be due in the next month after the last disbursement.