Purpose 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%
INTEREST RATE
| Particulars | Existing Interest Rates w.e.f 10.11.2008
(For monthly compounding) |
Revised Interest Rates w.e.f 19.01.2009
(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 unto Rs. 7.50 lacs | At par with BPLR i.e. 13.50% p.a. | At par with BPLR i.e. 13.00% p.a. |
| 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. |