Tamil Nadu Grama Bank Education Loan Interest Rate

INTEREST RATEPlease Contact Bank Branch
LOAN TENUREContact Bank Branch
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDPlease Contact Bank Branch
PRE CLOSURE CHARGESAs decided by the bank from time to time
Note: Updated on 23 Feb 2024, for latest interest rates, please visit bank website.

About Tamil Nadu Grama Bank

Tamil Nadu Grama Bank is a gramin bank in India established on 04-01-2019. It has headquarter in Salem and address is No. 6, Yercaud Road Hasthampatty, Salem 636007. it has 0 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.

Tamil Nadu Grama Bank Education Loan Interest Rates, Education Loan at Updated on 14 Oct 2024. Apply for Education Loans Online. Find Tamil Nadu Grama Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.

Other Products of Tamil Nadu Grama Bank:

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
Tamil Nadu Grama Bank RD Interest RatesTamil Nadu Grama Bank ATMs Location
PPF Account 

Tamil Nadu Grama 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.

Tamil Nadu Grama Bank Eligible Courses for Education Loan

Education Loan can be availed under following cases-

  • Graduate, Post graduate, Diploma and Professional courses recognized by University Grant Commission, All India Council for Technical Education (AICTE) and the Indian Council for Medical Research, Government of India.
  • Job oriented Professional or Technical courses of reputed education institutes abroad, etc.
  • Government recognized or approved vocational or skill development courses.
  • Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc
  • Courses offered in India by reputed foreign Universities.
  • Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Tamil Nadu Grama 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)

Tamil Nadu Grama 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.

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 Tamil Nadu Grama Bank, Tamil Nadu Grama Bank SMS balance check number SMS banking, Tamil Nadu Grama Bank mobile banking, Tamil Nadu Grama Bank toll free number,Tamil Nadu Grama Bank toll free number 24*7, Tamil Nadu Grama Bank miss call number.

  • CONTACT NUMBERS - 0427-2522900, 0427-2522970

Tamil Nadu Grama Bank Contact Details

Tamil Nadu Grama Bank EMI Calculator  Tamil Nadu Grama Bank Branches  
Tamil Nadu Grama Bank Education Loan FAQs  Education Loan Document Required

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