Kerala Gramin Bank Education Loan Interest Rate
| INTEREST RATE | 11.50% to 13.60% |
| LOAN TENURE | In 5 to 7 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 |
About Kerala Gramin Bank
Kerala Gramin Bank is a gramin bank in India established on 07-08-2013. It has headquarter in Malappuram and address is PB No.10, KGB Towers, AK Road, Malappuram - 676 505. it has 651 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Kerala Gramin Bank Education Loan Interest Rates, Education Loan at 11.50% to 13.60% Updated on 14 Sep 2024. Apply for Education Loans Online. Find Kerala Gramin Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
Other Products of Kerala Gramin Bank:
| Home Loan | Personal Loan |
| Education Loan | Business Loan |
| Car Loan | Two Wheeler Loan |
| Gold Loan | FD Interest Rates |
| Kerala Gramin Bank RD Interest Rates | Kerala Gramin Bank ATMs Location |
| PPF Account |
Kerala Gramin Bank Education Loan Purpose
To provide financial assistance to the deserving / meritorious students in getting their education completed specially for higher education. The scheme aims to ensure that the deserving students may not loose opportunities for want of arrangements of funds.
Kerala Gramin Bank Eligible Courses for Education Loan
- Graduation & Post Graduation.
- Professional Courses (Engineering, Medical, Management, Agriculture).
- ICWA , CA, CFA etc.
- Courses conducted by IIM, IIT, IISC, NIFT etc.
- Courses offered by National Institutions.
- Studies abroad.
Kerala Gramin Bank Education Loan Document Required
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)
Kerala Gramin Bank Education Loan Amount
Banks offer loans of up to Rs 10 lakh for courses in Indian colleges and up to Rs 20 lakh for studies abroad as per Indian Banks' Association norms. The quantum of a loan depends upon the course and the institution offering this course.
Margin
a) Up to Rs.4 lakhs-Nil.b) Above Rs. 4 lakhs 5% for Studies in India and 15% for Studies abroad
Kerala Gramin Bank Education Loan Repayment
In 5 -7 years starting after 1 year after completion of course or after six month after getting employment, whichever is earlierSecurity
Up to 4 Lakhs - No collateral security.Above 4 Lakh - Up to 7.50 Lakh- collateral security in the form of third party guarantee.
Above 7.50 Lakhs - Tangible Collateral Security worth 150% of the loan amount.
Mode of Repayment of Education Loan
Post Dated Cheque (PDC): PDCs are given by the borrower in advance to the bank. They will be for future dates. Bank will deposit the cheque on the date mentioned on the cheque. This mode used to be opted by the borrowers when there were no online repayment options available. This mode is no longer popular and is used by very few borrowers.
Electronic Clearance System (ECS): This mode is very popular and most of the borrowers opted for this mode of repaying the loan. It is an electronic mode for transferring the EMI from borrower's bank to lender's bank.
National Automated Clearing House (NACH): NACH is a facility offered by National Payment Corporation of India (NPCI) for online transfer of funds on due date. This system has come into force recently and is preferred by many people. The benefit of this mode is that it allows transactions to be processed in real time.
Standing Instruction (SI): It is an order or instruction which the account holder gives to his/ her bank to pay a fixed amount to another bank/ account at a regular interval. It is also used by many borrowers to pay EMIs as EMI is a fixed amount. SI is not suitable for variable amounts.
Contact details of Kerala Gramin Bank, Kerala Gramin Bank SMS balance check number SMS banking, Kerala Gramin Bank mobile banking, Kerala Gramin Bank toll free number,Kerala Gramin Bank toll free number 24*7, Kerala Gramin Bank miss call number.
- MISSED CALL NUMBERS - 9015800400
- CONTACT NUMBERS - 0483 2733509, 0497 2717800
Kerala Gramin Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.keralagbank.com
- CONTACT NUMBERS - 0483 2733509, 0497 2717800
- EMAIL ID - [email protected], [email protected]
- MISSED CALL NO. - 9015800400
- TOTAL BRANCHES - 651
- HEADQUARTER - Malappuram
- BANK ADDRESS - PB No.10, KGB Towers, AK Road, Malappuram - 676 505
Kerala Gramin Bank Education Loan FAQs Education Loan Document Required
