Synopsis/ Objectives
This is an ideal scheme which provides financial support to deserving and meritorious students for pursuing technical / professional higher education in India as well as abroad. The main emphasis is that every meritorious student even poor is provided with an opportunity to pursue education with the financial support and on liberal / simple terms and conditions.
Eligibility
A. Student Eligibility:
The student should be an Indian National and secured admission to professional / technical / Graduation / Post Graduation courses in India or Abroad through Entrance Test / Merit Based Selection process.
Sanction of loan will be considered on the basis of academic record, net worth & income of family and scope for securing good / gainful employment. The student will have to submit all required documentary evidences including receipts, estimates etc. & progress / performance report to the Bank regularly till completion of the course.
In case of studies abroad, student should submit the Unique Identification Number (UIN) / copy of Identity Card to the branch.
The student / applicant should not be availing / will not avail any education loan during currency of our loan. Necessary Affidavit / Undertaking to this effect to be obtained.
Type of Loan: Term Loan (To be sanctioned preferably by the Branch nearest to the place of residence of parents).
Borrower: Student and Parent / Guardian jointly.
Age Limit: Minimum 16 years and maximum upto 40 years.
B.Courses eligible:
For Studies in India:
Graduation courses – BA, B.Com, B.Sc. etc.
Post Graduation courses - Masters & Phd.
Professional courses
Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institutes affiliated to
University.
Regular Degree/Diploma courses like Aeronautical, Pilot Training, shipping etc. approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation / shipping authority.
Courses offered in India by reputed foreign universities.
Evening courses of approved institutes.
Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR / etc.
Courses offered by National Institutes and other reputed private Institutions - depending on future prospects recognition by the user Institutions.
Courses leading to certification are not to be considered.
For Studies Abroad:
Graduation – for job oriented professional / technical courses offered by reputed universities.
Post graduation – MCA, MBA, MS etc.
Courses conducted by CIMA – London, CPA in USA etc.