Student Education loans in India

Here know the complete information about Student Education Loans offered by Federal Bank India.

Federal Bank

Studies in India

Eligibility for Education Loan
  • Must be an Indian National.
  • Secured admission to the eligible courses
Eligible Courses for Education Loan
  • Graduation, Post-graduation and professional courses from recognized universities.
  • Diploma and technical courses from reputed universities.
Expenses considered for Education Loan
  • Fee payable to college/school/hostel
  • Payment of course fees
  • Purchase of books/equipments/instruments/uniforms and computer/laptops
  • Examination/Library/Laboratory fee
  • Other expense that are required to complete the course - like study tours, project work, thesis, etc.
Quantum of Finance
Need based finance from Rs.0.50 lacs to Rs.25.00 lacs.
Margin
  • Upto Rs.25,00,000/- -- NIL

Studies in Abroad

Eligibility for Education Loan
  • Must be an Indian National.
  • Must provide a valid passport and visa
Eligible Courses for Education Loan
  • Graduation : For job oriented professional / technical courses offered by reputed universities
  • Post-Graduation - MCA, MBA, MS, PhD etc.
  • Courses conducted by CIMA-London, CPA in USA etc.
Quantum of Finance
Need based up to a maximum of Rs. 25.00 lacs
Margin
  • Upto Rs.25,00,000/- -- 10%

Common aspects for Indian and Abroad studies

Security
  • Upto Rs.1.00 lacs - Personal guarantee of two persons with Basic pay of Rs.5000/-
  • Above Rs. 1.00 Lacs : Collateral security is needed (if immovable property – 200% of the limit is required).
Repayment
Monthly / periodical interest during the holiday period to be serviced and Balance at the end of the course to be repaid in equal monthly installments. And repayment should begin when the student secures employment or within 12 months after the completion of the course, whichever is earlier.
Rate of Interest
For more details visit Federal Bank official website: federalbank.co.in

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