Indian Bank Education Loan

INTEREST RATE	12.25%
LOAN TENURE	In 10 to 15 years after the Holiday | Moratorium Period
PROCESSING FEE	As decided by the bank from time to time
GUARANTOR REQUIRED	Yes
PRE CLOSURE CHARGES	As decided by the bank from time to time

Indian Bank is a public sector bank in india with total assets 3088 crore. It has headquarter in Chennai. Indian Bank was founded on 15-08-2007. It has 2409 branches and total assets 30882344 ATMs across India. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Indian Bank which includes Indian Bank Official Website, Indian Bank ATMs accross the India, Indian Bank Branches accross the India, Indian Bank Contact Numbers, Indian Bank official EmailID, Indian Bank Headquarter and Indian Bank Headquarter Address. Find Indian Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.

To meet the cost of education covering fee payable to college | school | hostel, exam fees, purchase of books | equipment's, travel expenses | passage money for studies abroad, purchase of computers essential for completion of the course etc.
Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course.
Insurance premium for student borrower.

Studies in India:
Diploma|Graduation/Post-graduation courses in various disciplines.
Computer certificate courses of reputed institutes accredited to The Department of Electronics.
Studies Abroad:
Job-oriented professional|technical courses offered by reputed universities.
MCA, MBA, MS etc.
Courses conducted by CIMA - London, CPA in USA etc.

For salaried individuals

• Duly filled up and signed education loan application form along with photographs
• KYC (Know Your Customer)documents
• Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
• Latest salary slip showing all deductions or Form 16 along with recent salary certificate
• Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
• Bank Statement or Bank Pass Book of having entries of last 6 months
• Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
• Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
• Detailed break-up of the costs of the course (Optional)

For all individuals except salaried

• Duly filled up and signed education loan application form along with photographs
• KYC (Know Your Customer)documents
• IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
• Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
• Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
• Bank Statement or Bank Pass Book of having entries of last 6 months
• Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
• Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
• Detailed break-up of the costs of the course (Optional)

EMI Calculator Bank Branches Education Loan FAQs

a) For studies in India, maximum Rs. 10 Lakhs.
b) For studies abroad, maximum Rs. 20 Lakhs.

a) Up to Rs.4 lakhs-Nil.
b) Above Rs. 4 lakhs- Studies in India 5% Studies Abroad 15%

Repayment Holiday| Moratorium: Course Period + 1 year or 6 months after getting job, whichever is earlier. The loan to be repaid in 10 - 15 years after commencement of the repayment.

Upto Rs.4.00 Lakhs - No Security. Parent(s)|guardian to be joint borrower(s).
Above Rs.4.00 Lakhs upto Rs.7.50 Lakhs - Collateral in the form of satisfactory third party guarantee.
Above Rs.7.50 Lakhs: Co-obligation of parents / guardians together with tangible collateral security of suitable value along with assignment of future income of the student for payment of installments.