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Loan amount limit is 10 Lac for the case if student want to reside and study in India itself and 20 Lac in case if the applicant has got admission in any one of the no Indian but reputed university.
No processing fee is charged from the applicants. The expense may include for all the essential purpose that is stated by the university / college fee schedule.
The loan should be paid in 5 years to the bank once the repayment period starts. The start of repayment period is either after a year after course completion, 6 months after job or that which one is earlier.
No security money is needed if loan amount is less than or upto 4 Lac, third party guarantee if applying for amount between 4-7.50 lacs and collateral security equal to 100 % loan amount is needed for the loan amount above than 7.50 Lac. Following proof of documents can be submitted under collateral security
Margin is not taken for the loans of amount 4 Lac and for above amount loans a 5 % margin is taken is student is studying in India and 15% if he / she studying out of India.