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Bank Loan Facility

A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

Sample Sanction Letter of AIMS HND-Marine Engineering Cadet (Click here)

Eligible Courses

A. STUDIES IN INDIA
B. STUDIES ABROAD

EXPENSES CONSIDERED FOR LOAN

AMOUNT OF LOAN

INTEREST RATES

Contact with Nationalize Bank.

PROCESSING FEES

Contact with Nationalize Bank.
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

Maximum Loan Limit Repayment Period
Upto Rs. 4 Lacs Upto 10 years
Above Rs. 4 Lacs and upto Rs. 7.5 Lacs Upto 10 years
Above Rs. 7.5 Lacs Upto 12 years

SECURITY

Particular Security
Upto Rs. 4 lacs loan amount Only Parent/ Guardian as co-borrower
Above Rs. 4 lacs to Rs. 7.50 lacs loan amount Parent/ Guardian as co-borrower and Collateral security in the form of suitable third party guarantee*.*Third Party Guarantee can be replaced with Parent/Guardian as co-borrower provided the Gross Annual Income of Parent/Guardian (co-borrower) as given in latest Income Tax Return is 3 times of the loan amount.
Above Rs. 7.50 lacs loan amount Parent / Guardian as co-borrower and tangible collateral security

IN CASE OF MARRIED PERSON, CO-OBLIGATOR CAN BE EITHER SPOUSE OR THE PARENT(S)/ PARENTS-IN-LAW MARGIN

  • For loans up to Rs.4.0 lacs : No Margin
  • For loans above Rs.4.0 lacs:
  • Studies in India: 5%
  • Studies Abroad: 15%

DOCUMENTATION REQUIRED