Educational Loan
KVB has made it possible for you to pursue your educational dreams. Our loan has been specifically structured to provide you with financial help if you wish to pursue further education of your choice, either in India and abroad. You can avail of our loans for graduate and post-graduate courses at the university you prefer.
- It is a term loan given for studies in India and abroad.
- This loan is eligible for Indian nationals who have secured admission to professional/ technical courses in India through a common Entrance Test, or who have secured admission to a foreign University or Institution.
- The Father or guardian of the student will be the guarantor in case of individual applicants.
| Charges and Limits | |
| Loan Amount | For studies in India Maximum Rs.10.00 lakhs For studies abroad Maximum Rs.20.00 lakhs |
| Margin | Up to Rs. 4.00 lakhs - Nil Above Rs. 4 lakhs Studies in India - 5% Studies abroad - 15% Scholarship / assistantship to be included in margin. Margin may be brought on a year to year basis as and when disbursements are made on a pro-rata basis |
| Disbursement | The loan to be disbursed in stages as per the requirement /demand directly to the Institutions/ Vendors of books/equipments/instruments to the extent possible |
| Documentation Charges | – |
| Primary Security | DPN (In case the loan is used for purchase of equipments/instruments, the same is to be hypothecated to us) |
| Collateral Security | For loans upto Rs.4.00 lakhs: 01. Co-obligation of parents; 02. No security For loans above Rs.4.00 lakhs and upto Rs.7.50 lakhs: Co-obligation of parents together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional case, waive third party guarantee if satisfied with the Net Worth / Means of parent/s who would be executing the documents as "Joint Borrower" Above Rs.7.50 lakhs: Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of instalments. Students admitted under Management Quota are also eligible for Educational Loan. However other norms / guidelines with regard to eligibility criteria are to be complied without any deviation. |
| Repayment | In 5-7 years after repayment holiday (Course period and 2 years or 6 months after getting job whichever is earlier). |
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches
- A capability certificate can be issued by branches after obtaining supporting documents.
- NDC from other banks need not be insisted on, a declaration or affidavit is enough.
- The loan is to be sanctioned at a branch nearest to the place of domicile of the applicant.
- The loan should be disposed off within 15 days to 1 month from the receipt of complete details from the party.