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Educational Loan Scheme

The scheme aims at providing financial support to deserving students to pursue studies for Professional & Technical Curses in India and abroad.

  • The student should be an Indian National

  • Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC (10 plus 2 or equivalent). The Selection procedure should be transparent in nature.

Students admitted under Management Quota are also eligible for loan. In respect of admission through Management Quota, the fees to be considered should be within the fees structure as approved by the State Government or a Government approved Regulatory Body for admission to payment seats in Government Colleges/ Private Self Financing Colleges, Co-operatives and Colleges run by Universities, as the case may be.

Courses Eligibility :

A- Studies in India:

  • Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer, Ayurveda, Homeopath, Physiotherapy.

  • Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to University.

  • Courses like ICWA, CA, CFA, CS.

  • Courses conducted by IIM. IIT, IISc, XLRI, NIFT etc.

  • Evening Professional courses of Institutes approved by State /Central Government/UGC/ Universities.

  • Other courses leading to diploma/degree etc., conducted by colleges/universities approved by UGC/Govt/ AICTE/AIBMS/ICRM.

  • Courses offered by National Institutes and other reputed private institutions.

References for Verifying accreditation /reputation of Institute/ University:,,,; etc.

B -Studies Abroad :

  • Graduation for job oriented professional/technical courses offered by reputed universities.

  • Post-graduation MCA, MBA, MS.

  • Courses conducted by CIMA –London, CPA in USA.

Name/ Ranking of the University/Institutions for studies abroad may be verified from website:

Quantum of Finance :

Need based finance to meet the expenses worked out will be considered taking in to account margins subject to the following ceilings:

  • Studies in India: -Maximum up to Rs.35 Lac.

  • For Study of Medical Science (MBBS & MD/MS) in India: Maximum up to Rs.75 Lac

  • Studies Abroad: -Maximum up to Rs.70 Lac.

Margins :
    1. For Loans Up to Rs.4.00 Lakh : 05%
    2. For Loans above Rs.4.00 Lakh : 15%

Scholarship/assistantship to be included in margin

Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

Repayment Period :
  • Up to Rs. 7.5 lacs - 120 Months

  • Above Rs. 7.5 Lacs - 180 Months

The above repayment period is exclusive of repayment holiday.

Rate Of Interest :

Click here for latest Rate of Interest