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COMPARE : EDUCATION LOANS State Bank of Mysore Education Loan Introduction State bank of Mysore has designed Gnanamitra educational loan to provide financial help to students to take up higher education and join professional courses. Bank gives second loan to student on the condition the student secures 60% marks in existing course. Bank gives insurance policy on the life of the student borrower. The amount of the policy is equivalent to the loan and after 5 years the policy can be convertible whole- life one for 25/30 years. Highlights   Study Abroad Study India Course Graduation Graduation Loan Type Term Loan Term Loan Loan Purpose Tuition and other fees / maintenance costs / books and equipment and cost of passage Tuition and other fees / maintenance costs / books and equipment Loan Amount Min. - Rs 50000 Max. - Rs 2000000 Min. - Rs 10000 Max. - Rs 1000000 Margin Money Upto Rs. 4.00 lacs - Nil Above Rs. 4.00 lacs - 15% Upto Rs. 4.00 lacs: Nil Above Rs. 4.00 lacs: Nil For studies in India: 5% Interest Rate Upto 4.00 Lacs : 14.00% 4.00 to 7.50 Lacs : 15.50% Above 7.50 Lacs : 14.50% 0.50% CONCESSION FOR GIRL STUDENTS (floating rate) Upto 4.00 Lacs : 14.00% 4.00 to 7.50 Lacs : 15.50 % Above 7.50 Lacs : 14.50 % 0.50% CONCESSION FOR GIRL STUDENTS (floating rate) Time to Process Loan 7 days 7 days  Fees & charges   Fees & charges   Study Abroad Study India  Security   Security Upto Rs. 4.00 lacs : NIL Above Rs. 4.00 lacs and upto Rs. 7.50 lacs : Collateral in the form of a suitable 3rd party guarantee. Above Rs. 7.50 lacs and upto Rs. 10.00 lacs : Collateral security by way of immovable property or equal to the loan amount in the form of Government securities / NSCs / Units of UTI Guarantee of parents / guardians (in the case of minors, the parent / guardian will execute the documents on behalf of the minor and also in his capacity as co-borrower) / third party guarantee where sufficient collateral security is not available  Terms & Conditions   Terms & Conditions Repayment of loan to commence immediately after disbursal, by the parent / guardian, out of his / her income. Instalments may be nominal (to cover interest portion, atleast) during the period the student is undertaking the studies. The instalments will be stepped up one year after the completion of the course or after the student gets a job, whichever is earlier, so that the loan gets repaid together with interest within a period of 60 to 84 months thereafter. 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The J&K State Cooperative Bank The Kerala State Cooperative Bank Ltd M.P. Rajya Sahkari Bank Maryadit The Punjab State Cooperative Bank The Sikkim State Cooperative Bank Ltd. Tripura State Cooperative Bank The West Bengal State Co-operative Bank Ltd. Bassein Catholic Co-op.Bank Ltd. Nutan Nagarik Sahakari Bank Limited Rajkot Nagarik Sahakari Bank Ltd. Amanath Co-operative Bank Ltd. Andhra Pradesh Mahesh Co-Op Urban Bank Ltd. Bharat Co-operative Bank (Mumbai) Limited Bombay Mercantile Co-operative Bank Limited Dombivli Nagari Sahakari Bank Ltd. Janakalyan Sahakari Bank Ltd Rupee Co-op. Bank Ltd. The Thane Janata Sahakari Bank Ltd The Akola Janata Commercial Co-operative Bank Ltd. Repco Bank  Select a Category: Study India Study Abroad  Select Course: Graduation Post Graduation     State Bank of Mysore Products State Bank of Mysore Auto Loans State Bank of Mysore Home Loans State Bank of Mysore Personal Loans State Bank of Mysore Fixed Deposits COMPARE QUICKLY  Select a product: Credit Cards Car Loans Home Loans Personal Loan Fixed Deposits Savings Accounts Education Loans   CALCULATE QUICKLY  Select a product: Credit Cards Car Loans Home Loans Personal Loan Fixed Deposits Savings Accounts Education Loans   EDITORS' PICKS Carnival of Indian Personal Finance Blogs #3 Get the basics right before applying for... Collateral and co-applicant requirements... The best education loan from banks in... Carnival of Indian Personal Finance Blogs #1