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 The loan is provided for
Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university.
The loan is provided for
Diploma / Graduate / Post-graduate courses in the faculties of Engineering, Technology, Architecture, Medicine, Dental Science, Agricultural Science, Veterinary Science and Computer Certificate courses of reputed institutes accredited to department of electronics or affiliated to university.
Loan Amount Min. - Rs 10000
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: 5%
Tenure Min. - 5 Yrs.
Max. - 7 Yrs.
Min. - 5 Yrs.
Max. - 7 Yrs.
Interest Rate Upto 4.00 Lacs : 13.50%
4.00 to 7.50 Lacs : 13.25%
Above 7.50 Lacs: 12%

0.50% concession for girl students
Upto 4.00 Lacs : 13.50%
4.00 to 7.50 Lacs : 13.25%
Above 7.50 Lacs: 12%

0.50% concession for girl students
Time to Process Loan 7 days 7 days
 Fees & charges
 Security
 Terms & Conditions
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