Thane Janata Sahakari Bank Education Loan- Student Loan in India

Thane Janata Sahakari Bank Education Loan Scheme

Thane Janata Sahakari Bank Education Loan Eligibility        

Occupations: Salaried / Self employed / Businessman. Gross Income: Above Rs. 8,000/- p.m. 

Age: Min. 21 years, Max. 60 years at loan maturity. 

Repayment capacity it will be considered on total income of the applicant and co-applicant.

Student as Co-Applicant.

Thane Janata Sahakari Bank Education Loan Amount  

Collateral is needed for loan more than INR. 1 lakh.

The applicant can request for a loan up to maximum of Rs.30 lakhs.

Moratorium Period       

Applicable Max 18 months

Repayment       

Maximum upto 7 years + 18 months moratorium.

Thane Janata Sahakari Bank Education Loan Rate of Interest             

@ 11.60 % p.a. on DAILY reducing balance

Service Charges           

1% of the Loan Amount (Minimum Rs. 1000/-) (If the property is offered as collateral security)

Guarantee/Surety        

Personal Guarantee of one/two person(s) depending upon income /means.

Thane Janata Sahakari Bank Education Loan Repayment

The loan must be repaid in seven years, without counting the interest free window period (18 months) allowed between course completion and finding a job.

Pre payment   

No Penalty for pre-payment. (2% penalty only in case of take over)

Thane Janata Sahakari Bank Education Loan Documents Required

Income Proof of Applicant(s) & Guarantor(s)

Residential Proof of Applicant(s) & Guarantor(s)

Original Quotation / Invoice,  etc

Bank Account Statement One Year