Model Education Loan Scheme for pursuing higher education in India & Abroad
Studies in India: (Indicative list)
Note :The above list is indicative in nature. Courses other than the above offered by reputed institutions may also be considered on the basis of employability.
Note : Diploma Courses and Certificate Courses have not been included as eligible courses for the scheme. Post graduate studies leading to PG degrees and PG diplomas offered by reputed institutes/universities only will be covered by the scheme. Assessment of employment potential or future prospects is very important criterion considering the higher cost of studies involved.
|Quantum of Finance||
Need based finance to meet the expenses of College, Hostel, Examination, Library Fee etc.
|Rate of Interest||Please click here For rate of interest|
|Processing fee||Please click here For Processing fee|
Upto Rs. 4 lakhs : NO Security( Parents to be joint borrowers)
Above Rs. 4 lakhs and upto Rs. 7.5 lakhs
Note : However, third party guarantee will be waived if the loan is eligible for Credit Guarantee Fund Scheme for Education Loan (CGFSEL).
Above Rs. 7.5 lakhs
|Moratorium Period||Course Period + 1 Year
|Repayment Period||Repayment of the loan will be in equated monthly instalments for a maximum period of 15 years for all categories.|
|Prepayment||No pre-payment penalty is to be levied for prepayment of loan any time after the commencement of repayment.|
|PSB Education Loan-Padho Pradesh||Padho Pradesh-Scheme of Interest Subsidy on Educational Loans for Overseas Studies for the Students belonging to the Minority Communities|
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