PROJECT : EDUCATION LOAN INFO FROM ASHWIN

                                                             PROJECT : EDUCATION LOAN INFO FROM ASHWIN

Documents required for Education Loan

Salaried:

• Institute Admission Letter with Fee break-up
• SSC,HSC,Graduation Marksheets
• Age Proof
• Signature Proof
• Identity Proof
• Residence Proof
• Latest salary slip showing all deductions or Form 16 along with recent salary certificate
• Latest 6 Months Bank Statement of the Salary Account.
• Latest Photograph

Self Employed:

• Institute Admission Letter with Fee break-up
• SSC,HSC,Graduation Marksheets
• Age Proof
• Signature Proof
• Identity Proof
• Residence Proof
• Last 2 Year ITR with Computation of Income
• Last 2 Years Audited Balance Sheet
• Last 6 Months Bank Statement
• Proof of Turnover (Latest Sales / Service Tax Return)
• Latest Photograph

Self Employed - Professionals:

• Institute Admission Letter with Fee break-up
• SSC,HSC,Graduation Marksheets
• Age Proof
• Signature Proof
• Identity Proof
• Residence Proof
• Last 2 Year ITR with Computation of Income
• Last 2 Years Audited Balance Sheet / P& L
• Last 6 Months Bank Statement
• Proof of Qualification
Latest Photograph

http://denabank.com/viewsection.jsp?lang=0&id=0,4,26,68

Education Loan - Government interest subsidy scheme
  for Economically Weaker Sections (EWS)

  Coverage :

   EWS with upper parental income of Rs.4.50 lakhs per annum.

  For recognized Technical / Professional Courses in India after Class XII as approved by Ministry of Human Resources Department, Government of India.

  Certification of income by Designated authority in the prescribed format.

 Applicable from academic year 2009-10.

  Interest Subsidy during moratorium period (Course period + 6 months / 1 year).

  For further details, contact Branch Manager.

The Topper for your children’s Higher Education

Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.

You are eligible if:

·You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.

·Simply walk in with the marksheet of the qualifying exam. and proof of admission.

Course Eligibility

Study in India:Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.

Study Abroad:Graduation  :   For job oriented professional / technical courses offered by reputed universities
Post Graduation : MCA, MBA, MS etc.
Courses conducted by CIMA-London, CPA in USA etc.

Loan Amount-·Upto Rs.10 lakhs for studies in India.·Upto- Rs. 20 lakhs for studies abroad.

Loan takes care of :

· Fee payable to colleges/ schools/ hostels

· Examination/ Library/ Laboratory fees.

· Purchase of books, equipment, instruments and uniforms.

· Passage fare for travel abroad.

· Purchase of computers needed to complete the course.

· Any other expense to complete the course like study tours, project work, thesis etc.

Margin

•Upto Rs. 4 lakhs- NIL for study in India and abroad.

•Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.

Rate of Interest

Please Check out the Interest Rates Section to find latest Interest Rates applicable.

1% interest concession if interest is serviced as and when due during the moratorium period when repayment holiday is specified.

SIMPLE INTEREST CHARGED DURING MORATORIUM PERIOD.

Process Fees

Rs.1000/- for studies abroad which is refundable on availing the limit.

Repayment

For loans upto Rs.7.50 lakhs    :   Upto 10 years
For loans above Rs.7.50 lakhs  :   Upto 15 years

Click Here To Download Application Form

For any query / grievance, Please contact : Email:  rbd@denabank.co.in

http://www.bankofbaroda.com/pfs/gyan.asp

Baroda GyanA loan product specially designed for students pursuing Graduation, Post - Graduation, Professional & Other courses in India. Bank of Baroda extends a helping hand to energize your studies and promote education of the youth.

• No processing charges.
• No Margin on loans upto 4 lacs.
• Free Debit Card.

Terms & Conditions
Courses Eligible :

• All Graduation courses.
• All Post Graduation courses & Doctorate courses.
• Professional Courses viz. Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, Ayurved, Homeopathy, Physiotherapy, Hotel Management, Hospital Management, Interior Designing, Architecture, Event Management, Mass Communication, Fashion Technology, etc.
• Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to Universities.
• Courses like C.A, ICWA, CFA, CS, etc.
• Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.
• Regular Degree/ Diploma courses like Aeronautical, pilot training,
  shipping etc., approved by Director General of Civil Aviation/shipping.
• Other courses leading to diploma / degree etc. conducted by
  colleges/universities approved by UGC/Govt./ AICTE/ AIBMS/ ICMR etc.
• Courses offered in India by reputed foreign Universities.
• Evening courses of institutes approved by State/Central/Govt./UGC/AICTE/AIBMS/ICMR/ICAR.
• Courses offered by National Institutes and other reputed private institutions. The College/Institute must have been approved by the State/Central Govt./UGC/AICTE,etc.

Student Eligiblity :

• Should be Resident Indian.
• Secured admission to either of above courses

• A meritorious student (who qualifies for a seat under merit quota) will also be eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.
• or courses under Management Quota Seats considered under the scheme, fees as approved by the State Government/ Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
• Additional concession of 1.00% to the students who have sought admission in premier institutions viz. IIMs, IITs and AIIMS / AFMC for loans of more than Rs 7.50 lac secured by tangible securities.

Coverage of expenses :

• Fee payable to college / Institution / University.
• Examination / Library / Laboratory Fee.
• Fee and other charges payable to hostel.
• Purchase of books / equipments / instruments.
• Personal Computers / Laptops wherever required.
• Caution deposit / building fund / refundable deposit supported by institution bills / receipts.
• Any other expenses required to complete the course - like study tours, project works, thesis, etc.

Maximum Loan Amount : Rs.10.00 Lacs.

Margin :Upto Rs. 4.00 lacs :- NIL,
Above Rs. 4.00 lacs :- 5%

• Margin is to be contributed on pro rata basis on year to year basis as and when disbursements are availed.
  Repayment Holiday / Moratorium Period :Course period + 1 year or 6 months after getting job, whichever is earlier.
  Repayment Period :Repayable in 120 maximum Installments for loan amount upto Rs 7.50 lacs
• Repayable in 180 maximum Installments for loan amount above Rs 7.50 lacs .

Security :Upto Rs.4 lacs : No security,Above Rs. 4.00 Lacs and up to Rs. 7.5 lacs: Collateral in the form of a suitable third,party guarantee alogn with assignment of future income.

• Above Rs.7.5 lacs: Tangible collateral security equal to 100% of the loan
  amount along with assignment of future income

Rate of Interest :

• Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
• 1% interest concession is provided if interest debited during repayment holiday is serviced.
• 1% Concession in rate of interest to loans for girl student.
• Penal interest @ 2% p.a. on overdue amount, if the loan amount exceeds Rs.4.00 lacs.
• For loans above 4 lacs, interest rate will be 2 % above base rate for ISB, Hyderabad Students which is 2 % less than that for students of other institutes