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State Bank of Indore Education Loan- Student Loan in India

STATE BANK OF INDORE

EDUCATION LOAN (SARASWATI YOJANA)   
PURPOSE         
                                       https://www.indorebank.org/images/source1.gif

To extend financial assistance to deserving meritorious students for pursuing higher education in India & abroad.

ELIGIBILITY


Should be an Indian National.

Secured admission to professional/technical courses in India or abroad through Entrance Test/Selection process.

Secured admission to foreign university / institutions.

 

LOAN AMOUNT

Need based finance subject to repaying capacity of parents / students.
Studies in India: Max. Rs. 10.00 lacs
Studies Abroad: Max. Rs.20.00 lacs

MARGIN

Up to Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies Abroad : 15%

EDUCATIONAL LOAN SCHEME:

(Including Loans for Vocational Training) 
Particulars                      Existing Interest Rates w.e.f 10.11.2008     Revised Interest Rates w.e.f 19.01.2009
                                               (For monthly compounding)                              (For monthly compounding)

Upto Rs.4 lacs                                   1.50% below BPLR i.e. 12.00% p.a.                 1.50% below BPLR i.e. 11.50% p.a.
Above Rs.4 lacs and                           At par with BPLR i.e. 13.50% p.a.                    At par with BPLR i.e. 13.00% p.a.                    
unto Rs. 7.50 lacs 

Above Rs. 7.50 lacs                          1.00% below BPLR i.e. 12.50% p.a.                1.00% below BPLR i.e. 12.00% p.a.