Student Bank Loans 
State Bank of India
I.D.B.I Bank
Canara Bank
Dena Bank
Bank of Baroda
Mysore Bank
Vijya Bank
Syndicate Bank
Central Bank
Federal Bank
State Bank of Hyderabad
State Bank of Mysore



Education Loan Scheme
These are loans for pursuing studies in India or abroad. The loans need certain criteria to be fulfilled: a minimum second division is required for school or college indian education, and a minimum first division, for technical or professional higher studies in India and abroad.

Eligible Courses:

(i) Cognate school education.
(ii) All courses conducted by UGC approved Universities and autonomous institutions, affiliated to them, including computer courses.
(iii) All degree courses and computer courses conducted by deemed Universities, including courses in management, engineering, architecture, etc.
(iv) All degree courses conducted by institutions recognized by the Indian Medical Council.
(v) All computer courses which have been given due accreditation by Dept. of Electronics (DoE), Govt. of India, under their scheme of DOEACC (Dept. of Electronics Accreditation of Computer Courses). Other computer courses conducted by National Centre for Software Technology, Mumbai, C-DAC (Centre for Development of Advanced Computing), Pune and courses conducted by CMC Ltd. (but not courses approved by CMC but conducted by their franchisees).
(vi) Courses conducted by NIFT (National Institute of Fashion Technology).
(vii) Courses conducted by NID (National Institute of Design), Ahmedabad.
(viii) Hotel Management Courses conducted by National Council Institutes.
(ix) Post Graduate degree courses overseas.
(x) Navy/Commercial Pilot courses of recognized institutions. Part time and correspondence courses offered by Universities/deemed Universities/above institutes will also be eligible for financing.


For school/graduate indian education or abroad:
(a) Minimum second division (pass marks for SC/ST) in the last qualifying examination. For technical / professional / specialized / post graduate studies in India or abroad : Securing admission.
(b) Parents/guardian having independent regular source of income including traders self-employed/professionals and persons engaged in agriculture and allied activities.


 Students for School/Graduate studies in India or abroad can take up to 6 times the net (take home) monthly Income of parent / guardian /student. Minimum amount of loan Rs. 4000/- Maximum Rs. 1 lac. The independent income of both the parents may be included provided both are made liable either as a borrower or as a guarantor.
Students for Technical/Professional/Specialized/Post Graduate studies in India/Abroad can take 90% of the cost of the study, subject to a maximum of Rs. 5 lacs for studies in India and Rs. 10.00 lacs for studies abroad.
Margin 10%
Processing Fees Up to Rs. 25,000/- Rs. 250.00 (For S.R.) (One Time) From Rs. 25,001 to Rs. 2,00,000/- Rs. 250.00 per lac or part thereof + Rs. 500/- (For S.R.) (inclusive of lawyer’s fee for search report)
Above Rs. 2,00,000/- Rs. 250/- per lac or part thereof. + Rs. 1,000/-(For S.R.) S.R. = Search Report



For school/graduate studies in India or abroad Loan to be repaid within a period of 36 months commencing one month after disbursal, by the parent/guardian out of his/her income.
Technical/Professional/Specialised/Post Graduate studies in India/Abroad The loan is to be repaid in a maximum period of 60 months after completion of course or securing a job, whichever is earlier.


School/Graduate studies in India or abroad
(i) Collateral security from the borrower/guarantor equal to 100% of the loan amount consisting of any one or more of the following : (a) Govt. Securities, Public Sector Bonds, Units of UTI, NSC, Surrender Value of LIC Policy, Bank Deposits of equivalent value after effecting necessary lien/assignment. OR (b) shares, hypothecation of motor vehicles, gold, equitable mortgage of immovable property, after retaining 50% margin of their market value.
(ii) Alternatively, collateral security (as mentioned above) equal to 50% of the amount of loan would be acceptable provided a check off arrangement is established with a reputable employer of the borrower, whereby the monthly installment is deducted from his/her salary and paid by the employer directly to the Bank in a maximum period of 36 months. Technical/Professional/Specialized/ Post Graduate studies in India/Abroad Creation of charge over the movable and immovable assets of the borrower/spouse of the borrower/guarantors equivalent to the loan amount. Interest Rates (New Accounts)

Interest Rates:

Up to 2.0 Lacs 11.50% SBMTLR Above 2.0 Lacs 13.50% 2% Above SBMTLR



Education Loan Scheme

  1. Indian Universities
  • UG Courses : Engineering/Medical
  • PG Courses : Engineering/Medical/Management
  2.Foreign Universities
  • Courses requiring TOFEL/GRE/GMAT
  3. Research & Doctoral studies
  •  For UG Courses : Min. 75% in +2 stage
  •  For PG Courses : First class in UG courses
(In addition to the above, for foreign universities, TOEFL, GRE, GMAT scorecard and I-20 admit card are essential)
  •  For Indian Universities :Not more than 30yrs
  •  For International Universities :Not more than 35yrs.
Interest : 15% p.a. + int. tax
Tenor Max 8 yrs. ( For UG courses)
Moratorium  1 year.
Repayment: 3 years.
Security Equitable mortgage property/pledge of NSC, KVP, Bank deposits, shares, LIC policy etc.
For details contact the nearest IDBI Bank Branch.



Education Loan Scheme


Offered for India at Undergraduate, Postgraduate for the duration of the course; not renewable. Subject: Unrestricted. (Only technical courses for which Reserve Bank of India clearance is available.



Open to applicants who have 60% minimum marks in basic qualification and who have confirmed admission in a university in the UK. Interview is required. For bans up to and inclusive of Rs. 1,00,000, co-obligation from suitable person is required. For loans beyond Rs. 1,00,000, collateral security of property or other approved securities whose value is equal to the loan amount is required.

Value:  75% of the requirements of the course (maximum Rs. 10,00,000 for entire course), covering airfares, fees and maintenance.


Whom to contact: Further information and application form can be had from Canara Bank, Head Office, Priority Credit Section; Credit Wing, 112 J C Road, Bangalore 560002, or any other branch of Canara Bank.



Dena Vidya Laxmi Education Loan Scheme


Dena Bank provides convenient loans under this scheme for higher studies in India and abroad. Loans are available for Graduate/Post Graduate studies/Management courses of recognised universities and technical courses of ITI Polytechnics, Computer Courses etc.

The loan is available for Indian Nationals between 15 and 25 years having sound academic career, upto 75% of the total requirements covering course fees, cost of books, Instruments, Equipments, Hostel accommodation, Passage (one way) for higher studies abroad etc.


 The maximum amount of loan is Rs.3,50,000/-



The loan is repayable within 3 to 5 years in respect of higher studies in India and within 7 years in respect of higher studies abroad from the date of completion of studies. The repayment commences after 12 months from the date of completion of studies (including training period, if any) or 1 month after getting employment whichever is earlier.


Presently there is no ceiling on annual income of parent or guardian.


©copyright by Softrain Solutions Pvt. Ltd. Disclaimer