SBBJ Education Loan

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Below is given the description on education loan scheme of state bank of Bikaner and Jaipur for to study in India or Abroad.

Bank Name	Amount of Loan	Repayment Tenure	Interest Rate
	10 - 20 lacs	10 - 15 years	13 - 13.25 %

Eligible Courses

Studies in India:

Usually all those courses that promises to be an employment program are eligible under it.
Many of the graduation, professional and post-graduation courses are applicable under it. The courses should be recognized by any one of the governmental or recognized agency like UGC or AICTE etc.
The courses comes under any of the recognized Indian or foreign university

Studies abroad:

The graduation courses promising job or some of the post-graduation courses like MBA and MS etc. from reputed college / university only

Expenses that can be considered for granting loan

Fee to be paid to college / hostel / school etc.
Examination fee / laboratory fee / library fee
Fee to purchase equipment /uniform / instruments / books
Special deposit in the college including caution / hostel security and all other refundable
Travel expense and passage for abroad students
Purchase of computer if necessary for the course
Purchasing of bike up to Rs. 50,000/-

Amount of loan granted

10 Lac if the student likes to study in India.
20 Lac if the student likes to study abroad

Interest rates

13.25 % for studying in India or abroad and for a loan of 4 Lac
13 % for studying in abroad or abroad and for a loan of above 4 Lac

Processing fee

No processing fee is required.

Repayment tenure

Borrower has to pay the amount of Rs. 7.5 lacs in 10 years and in 15 years for the amount more than 7.50 lac upto 20 lacs. Repayment holiday is usually the course duration plus the moratorium period. Moratorium period is which is lower of course duration + 1 year or course duration + 6 months of job

Security

No security is taken for the loan of amount 4 Lac
Third party collateral guarantee is taken for the loan of amount greater than 4 Lac and less than 7.5 Lac
Third party tangible security is taken for the loan of amount greater than 7.5 Lac. The value of the security collateral should be equal to the amount of loan taken from the bank

Margin

No margin is taken if the amount of loan is less than Rs. 4 Lac

Next for the loan of amount greater than 4 Lac and less than Rs 7.5 lac

5 % if the student want to study in India
15 % if the student want to study in abroad

Required Documents

Below are the documents that should be presented for the granting of loan

Duly filled form of application of loan
Mark sheet of all exams qualified earlier. If not possible then at least the mark sheet of exams last qualified
Proof of studentship or admission in the course
Expenses schedule from the college / university
2 photos (passport size)
Minimum 6 month bank account
Statement of liabilities and assets of co-borrower
Income proof of co-borrower

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K.R. Mangalam University, Gurgaon