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Corp Byte - Computer Loan
1. Eligibility
| v | Students (Indian Nationals) of Colleges/ University / Educational Institutions pursuing their professional courses in India. |
| v | Loan is for pursuing Professional courses only. |
2. Purpose
To finance purchase of Personal Computers/Laptops / Notebooks / Palmtops / PDAs / Tablet PCs etc., including other peripheral accessories like pointers / printers / scanners / digital stylus / external AC converters / UPS etc., essential for professional studies.
3. Quantum of Finance
Maximum Loan Amount : Rs. 1 lakh (Rupees one lakh )
4. Margin - Nil
5. Rate of Interest
Floating rate of 13.00% p.a. with effect from 02.08.2010
(Fixed rate option not available)
6. Security
Hypothecation of the assets financed
7. Guarantee
| v | No third party guarantee stipulated. |
| v | However undertaking letter from the College/Institution to remit loan instalments duly collecting the same from the student along with College fees, required. |
| v | Undertaking from College /Institution, NOT to issue Degree Certificates till the loan is closed. |
8. Repayment
The loan to be repaid on monthly basis, beginning from the month subsequent to the month of loan release and scheduled in a manner that would coincide with the student’s residual period of study at the Educational Institution / College / University, so that the loan account stands closed when the student completes his/her studies at the Educational Institution/College/University.
9. Processing Charges - NIL
10. Prepayment Charges - NIL
11. Other Conditions
| v | Loan given at any time prior to completion of course. |
| v | Co application of parent/s/ third party guarantee not required. |
| v | Photo of the student, permanent address proof confirmed by Documentary evidence shall be submitted |
| v | Loan sanctioned by the Branch nearest to the location of the Educational Institution/ College where the student is pursuing studies. |
12. Revised Application Form:
13. Please click here for Checklist:
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