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| COMPARE : EDUCATION LOANS |
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| South Indian Bank Education Loan |
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| Introduction |
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South Indian Bank provides loans in this segment because moulding a generation with good education is one of their priorities. Education lays the foundation for creating a new future for a youngster, and thereby to secure his life. To this end, SIB has customised educational loans to suit any need. Be it for further education overseas or to pursue couses within the country, South Indian Bank offers them all.
Its Vitjnan Pradhan Scheme is for pursuing professional courses.
It provides another educational loan scheme, SIB-Excellence, for students seeking admission to premier educational institutions such as IITs, IIMs etc.
Its Vidyanidhi Scheme is exclusively for students securing admission in Professional colleges in Kerala. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Post Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Amount |
For loan amount contact the nearest bank branch.
Repayment:
For loan upto and including Rs.7.50 Lacs : Upto 10 years.
For loans above Rs.7.50 Lacs : Upto 15 years
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For loan amount contact the nearest bank branch.
Repayment:
For loan upto and including Rs.7.50 Lacs : Upto 10 years.
For loans above Rs.7.50 Lacs : Upto 15 years
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| Margin Money |
Up to Rs. 4 Lacs : NIL
Above Rs.4Lacs : 15%
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Up to Rs. 4 Lacs : NIL
Above Rs.4Lacs :5%
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| Tenure |
Min. - 10 Yrs.
Max. - 15 Yrs.
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Min. - 10 Yrs.
Max. - 15 Yrs.
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| Interest Rate |
15.4 %
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15.4 %
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
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| Comment on Charges |
Penal interest : @2% on loans above Rs.2 lacs for overdue amount & period. |
Penal interest : @2% on loans above Rs.2 lacs for overdue amount & period. |
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Security
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Security |
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Upto Rs 4 lacs - Parents to be joint borrowers. No security required .
Above Rs.4 lacs and upto Rs.7.50 Lacs - Parents to be joint borrowers together with collateral security the form of suitable third party guarantee
Above Rs.7.50 Lacs : Parents to be joint borrowers together with collateral security. In addition, assignment of future income of the student for payment of instalments may be insisted. |
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Terms & Conditions
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Terms & Conditions |
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Repayment period will start from 1 year after qualifying exam or six months after obtaining employment, whichever is earlier. For overseas studies, the holiday is restricted to 6 months fixed after the qualifying examination. Loan should be repaid in 60 equal monthly instalments after the holiday/moratorium as above. |
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Show All Education Loans
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