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| COMPARE : EDUCATION LOANS |
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| The Lakshmi Vilas Bank Limited Education Loan |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Post Graduation |
Post Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Loan is given for Graduation: For job oriented professional/technical courses offered by reputed universities, Post graduation: MCA, MBA, MS, etc., Courses conducted by CIMA-London, CPA in USA, etc. |
Loan is given for Graduation courses: BA, B.Com. B.Sc., etc., Post Graduation courses: Masters & Ph.D., Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc. , Courses like ICWA, CA, CFA, etc. , Regular Degree/Diploma courses like aeronautical, pilot training, shipping, etc. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
For loans up to Rs.4.00 lacs: Nil
For loans above Rs.4.00 lacs: 15%.
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For loans up to Rs.4.00 lacs: Nil
For loans above Rs.4.00 lacs: 5%
Scholarship/assistantship to be included in the margin.
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| Tenure |
Min. - 5 Yrs.
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Min. - 5 Yrs.
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| Interest Rate |
For Boy Students:
For loans up to Rs.4.00 lacs: 17.25% p.a
For loans above Rs.4.00 lacs: 18.25% p.a.
For Girl Students:
For loans up to Rs.4.00 lacs: 16.75% p.a.
For loans above Rs.4.00 lacs: 17.75% p.a.
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For Boy Students:
For loans up to Rs.4.00 lacs: 17.25% p.a
For loans above Rs.4.00 lacs: 18.25% p.a.
For Girl Students:
For loans up to Rs.4.00 lacs: 16.75% p.a.
For loans above Rs.4.00 lacs: 17.75% p.a.
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 Fees & charges
Fees & charges
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Security
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Security |
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Up to Rs.4.00 lacs: Co-obligation of parents/grandparents. No security.
Above Rs.4.00 lacs and up to Rs.7.50 lacs:Co-obligation of parents/grandparents together with collateral security in the form of suitable third party guarantee.
Above Rs.7.50 lacs: Co-obligation of parents/grandparents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.
In the case of married person, co-obligant can be either the spouse or the parent(s)/parents-in-law. |
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Terms & Conditions
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Terms & Conditions |
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Holiday Period:
Course period + 1 year or 6 months after employment, whichever is earlier.
The courses for which loans may be extended should not exceed 5 years.
The principal & interest (including interest accrued during the holiday period) to be repaid in EMIs in a maximum period of 7 years (84 EMIs).
On overdue amounts, penal interest @ 2% p.a. will be charged additionally for the overdue period in respect of loans above Rs.2.00 lacs. |
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