Jammu and Kashmir Bank Educational Loan- Student Loan in India

Jammu and Kashmir Bank Educational Loan Scheme

Scale of Finance

Rs.7.50 Lacs for studies in India .
Rs.15.00 Lacs for studies abroad .

Courses Financed
Graduate / P.G Courses in : Medicine, Surgery, Engineering, Hotel Management, Design, Architecture, Bio-chemistry, Agriculture, Veterinary etc.
P.G Courses in : Business Management, Chartered or Cost Accounting , Company Secretaryship.

Eligibility

Should be an Indian National
Should have secured admission to professional/technical courses through entrance test/selection process.
Should have secured admission to foreign universities/institutions
Should have passed the qualifying examination for admission to the courses.
Employed person intending to improve their educational qualification and/or receive training in modern technology in India or abroad can also be assisted under this scheme provided training offers prospects of better placement.

Security

Personal guarantee of borrower/ 's
Collateral security equal to amount of loan.

Margin

For loans upto Rs. 4 lacs - nil
For loans above Rs. 4 lacs Studies in India - 5% Studies abroad - 15%

Rate of Interest (subject to change)

Repayment
Repayment Holiday/ Moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan to be repaid in 5 to 7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum of two years

Term Loan For B.Ed/ M.Ed. Courses

Purpose
To provide loan to students. Employed persons who want to pursue B.Ed/M.Ed courses.
For meeting admission / tuition/ examination/ library/ lab Fee.

Nature of Facility Term Loan

Eligibility

Student should be an Indian National.
Should be a graduate in any discipline from any recognized university.
Should have secured admission to the recognized Institution/College imparting the B.Ed/M.Ed Course.
Loan application should be forwarded by the Principal of the college.

Quantum of finance Maximum: Rs 25,000.

Margin 10%.

Security Third party guarantee of one person

Processing charges   0.05% (Minimum: Rs.25/-)

Rate of Interest    PLR with quarterly rests.

Repayment   12 equal monthly installments.

Budshah Primary Education Finance

Nature of Facility Term Loan

Objective
To provide opportunity to children to have good quality primary education.

Purpose
To finance the entire cost of education of a child including school fee, uniform, books, etc.

Eligibility
All Children above the age of 3 years. Finance granted in the name of Guardian.

Quantum of Finance

Margin 10%.

Security

Personal guarantee of the parent/guardian.
Third Party guarantee of one person*.

*(Third party guarantee shall not apply in case of Government employees drawing salary through our branches.)

Criteria for Selection

Child should be 3+ years of age.
The applicant should produce a Certificate from the concerned school that the child has been granted Admission.
The loan application should be forwarded by the Principal of the School.
The parent/guardian should have an independent regular source of income.
The school should be recognized/ registered.

Processing Charges
0.05% of the amount sanctioned with a minimum cap of Rs 25/- to be paid upfront

Rate of Interest PLR quarterly rests.

Repayment 12 equal monthly installments. There shall be no moratorium period

Also See

Public Sector Banks to offer Insurance linked Education Loans