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| Up to Rs4.00 lakhs | No Security Parents to be joint borrower(s). |
| Above Rs4 lakhs and up to Rs7.5 Lakh.* |
|
| Above Rs7.5 Lakh.* | • Parent(s)/ guardian(s) to be Joint Borrower(s). • Collateral Security: Tangible collateral security having fair market value of not less than 100% of sanctioned limit and interest payable (capitalized) during moratorium, along with the assignment of future income of the student for payment of installments. |
* For Loans up to Rs. 10.00 Lakh for pursuing courses in IIT/IIM/ISB:
• Parent(s)/ guardian(s) to be Joint Borrower(s).
• Third party guarantee of Two persons
• Assignment of future income of the student.
• No collateral security is required. However, for education loans up to Rs. 7.50 Lakh third party guarantee shall be waived if the loan is covered under Credit Guarantee Scheme.
For Loans above Rs.10.00 Lakh for pursuing courses in IIT/IIM/ISB:
• Parent(s)/ guardian(s) to be Joint Borrower(s).
• Third party guarantee of Two persons
• Assignment of future income of the student.
• Collateral security: Tangible Collateral security having fair market value of not less than 75% of sanctioned limit and interest payable (capitalized) during moratorium.
(ISB means Indian School of Business, Hyderabad).
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( With inputs from : kashmirpublication.in )
