| Quantum |
From
Rs. 2 lacs to Rs. 15 lacs. Not exceeding Rs.
7.50 lacs for studies in India |
| Margin |
20%
of total cost. |
| Eligibility
Criteria |
First
class in last qualifying exam
Self / Parent having independent source of
income owning residential premises in Mumbai |
| Security |
Collateral
security by way of mortgage of immovable property
/ any other specified securities to cover
100% of loan amount |
| Charges |
1% of
loan amount |
| Repayment |
Interest
to be serviced regularly during moratorium
period (MP).
After MP entire outstanding in loan account
will be treated as Principal for calculating
future EMI's repayable in 10 years after date
of first disbursement |
| Tenure |
Maximum
period 10 years including duration of course
Moratorium period not exceeding six months
after completing
the course or securing a job, whichever
is earlier |
| Prepayment |
No
pre-payment penalty |
| Disbursement |
In
stages - as per requirement, directly to institution
/university etc |
| Appraisal
Docs |
|
| 1.
Attested copy of latest salary slip
of self / parent
and Form 16 for salaried employees |
| 2.
Income tax returns for the last 3 years
for self-employed persons. |
| 3.
Pass book or bank statements for last
six months |
| 4.
Proof of Age and Residence of Self /
Parent. |
| 5.
Certificate / Mark Sheet of last qualifying
exam. |
| 6.
Details of proposed course |
| 7.
Copy of sale agreement, share certificate,
NOC from society/builder or documents
pertaining to other collateral as applicable |
|
| Documentation |
1.
Promissory Note
2. D. P. Note Delivery Letter
3. Documents pertaining to collateral security
4. Authority letter in duplicate from borrower
authorising salary deduction or PDCs
5. No dues affidavit
6 All documents to be signed jointly by the
student and parent / guardian |
All
loans are at the sole discretion of SBICI
Bank Ltd.
EMI calculations are estimates and should
not be interpreted as conclusions.
Click
Here For Interest Rates
| EMI
Calculator |
| Vehicle
Loan | Mortgage
Loan | Consumer
Loan | Housing
Loan | Personal
Loan | Loan Against
Sales & Securities | Education
Loan |
