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Education loan scheme for students pursuing Higher Education in India.


To provide financial support to meritorious students for pursuing higher education in India.

Students who secure admission in Institutes as under:

  • Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any other regulatory body as the case may be.
  • Advance Diploma in Banking Technology offered by PNB IIT Lucknow.
  • Approved courses offered in India by reputed foreign universities.
  • Research Programmes recognized by designated academic authority/ regulatory body.  


  • Fee payable to college/ school/ hostel
  • Examination/ Library/ Laboratory fee.
  • Insurance premium for student borrower, if applicable.
  • Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
  • Purchase of books/ equipments/ instruments/ uniforms.
  • Purchase of computer at reasonable cost, if required for completion of the course.
  • Any other expense required to complete the course - like study tours, project work, thesis, etc.


  • Should be an Indian national.
  • Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
  • Cases of Management Quota may  be considered on merit basis;

Quantum of Finance

  • Need based Finance subject to repaying capacity of the parents/students (after completion of course) ;.
  • Reimbursement of fees paid within six months may be permitted on individual merits of the case.


  • Up to Rs. 4 lac - NIL
  • Above Rs. 4 lac - 5%  
  • Scholarship/ assistantship may be considered in margin.
  • Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.

Rate of Interest

  • Loan upto Rs 7.50 lac – MCLR+2%
  • Loans above Rs 7.50 lac – MCLR+2.60%
  • MCLR+1.10% to be charged for all loans, irrespective of amount, where 100% tangible collateral security in the shape of IP, enforceable under SARFEASI act, and/or liquid security is available. 
  • Simple interest be charged during the Repayment holiday/ Moratorium Period

Processing Charges/ Upfront fee


Documentation Charges

  • Rs.270/- for loans upto Rs. 4 lac and Rs.450/- for loans above Rs.4.00 lac (exclusive of service tax and education cess) Subject to change from time to time.


  • Up to Rs. 7.50 lac: Parent(s)/guardian as a joint borrower(s).
  • Above Rs.7.50 lac: Parent(s)/ guardian as a joint borrower(s). Tangible collateral security of suitable value acceptable to bank alongwith the assignment of future income of the student for payment of installments.

Repayment (Maximum)

      Maximum upto 15 years

Repayment Holiday/ Moratorium

      Course period + 1 year

Prepayment Charges



Above are only salient features of the scheme. For details please contact nearest branch


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