Student has appeared /completed previous qualifying exam and preparing for entrance exam such as CAT, CET, IIT, JEE, AIJEE, AIEEE, GATE, CA/CS/ICWA , COMED-K, NEET etc., and intending to avail tuition facility from reputed coaching Institute such as Brilliant , TIME etc..
Individual who is father, mother, spouse of the student having regular and verifiable income and having repayment capacity for meeting tuition fees of son, daughter or spouse.
In case of salaried class, repayment period not to exceed the retirement age.
The Institute shall be a reputed coaching institute and should have been in existence and run satisfactorily for a period of at least 3 years.
For financing tuition fees of entrance exams for professional courses such as CAT, MAT, CET, IIT, JEE, AIJEE, AIEEE, AIPMT, GATE, CA, CS, ICWA, COMED-K, NEET etc..
Financing tuition fees for preparing IAS, ICS, IFS, IPS etc., is not permitted.
Min Rs.0.20 lakhs to Max : Rs. 2 lakhs
10% of the tuition fee as per the fee structure issued by the Institute.
Where the applicant’s salary/pension is routed through the Branch, no other collateral security is required but third party guarantee is mandatory.
Where salary/pension is not routed through the branch, loan upto Rs.25000/- will be considered without collateral security. But, suitable third party guarantee is mandatory.
For loan above Rs. 25000/- the entire loan shall be fully secured by collateral in the form of financial asset such as NSC, LIC Policies, Deposits, KVP etc..after maintaining uniform margin of 10% on such securities. In such cases, third party guarantee is not required
In exceptional cases, immovable property with a margin of 25% on value of such property will be considered.
Rate of Interest
Floating rate of interest is linked to the MCLR & subject to revision from time to time