INTEREST RATE | 11.5% to 24% |
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 | Please Contact Bank Branch |
PRE CLOSURE CHARGES | As decided by the bank from time to time |
Kotak Mahindra Bank Limited is a private sector bank in india with total assets 2377 crore. It has headquarter in Mumbai. Kotak Mahindra Bank Limited was founded on 2003. It has 684 branches and total assets 23771273 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 Kotak Mahindra Bank Limited which includes Kotak Mahindra Bank Limited Official Website, Kotak Mahindra Bank Limited ATMs accross the India, Kotak Mahindra Bank Limited Branches accross the India, Kotak Mahindra Bank Limited Contact Numbers, Kotak Mahindra Bank Limited official EmailID, Kotak Mahindra Bank Limited Headquarter and Kotak Mahindra Bank Limited Headquarter Address. Find Kotak Mahindra Bank Limited Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
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.
Education Loan can be availed under following cases-
For salaried individuals
For all individuals except salaried
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.