Why For/Purpose /Objective:
Federal Bank education loan provides every meritorious student though poor with an opportunity to pursue higher studies in India & Abroad with the financial support from the banking system with affordable terms and conditions.
Eligibility Criteria
Student eligibility:
- Student be an Indian National.
- Secured admission to professional/technical courses through Entrance test/ Merit based selection process.
- Secured admission to foreign university / institutions (for studies abroad).
- Course & Institution should have necessary approval/recognition.
Courses Eligible
Course period + 5 - 7 years.
Quantum/ Amount of Loan
Studies in India - Up to 7.5 Lakh
Studies Abroad - Up to 15 Lakhs
Rate of Interest
Federal Special Vidya Loan Scheme (Model Education Loan Scheme – IBA scheme)
Loan Amount |
Interest rate |
Card rate for Girl Students |
Loans upto Rs.4 Lacs |
14.25 (BPLR) |
13.75 |
Loans above Rs. 4 Lacs |
15.25 (BPLR + 1) |
14.75 |
Federal Vidya Loan Scheme (Bank’s scheme)
Loan Amount |
Interest rate |
Card rate for Girl Students |
Loans upto Rs.4 Lacs |
13.25 |
12.75 |
Loans above Rs. 4 Lacs |
14.75 |
14.25 |
Repayment/ Tenures:
Repayable in equal monthly installments in 5 to 7 years after moratorium period. No repayment during moratorium period.
Contact
India toll free number 1800 - 425 - 1199 Or 1800 - 420 - 1199.
Customers from abroad can dial
+91- 484 - 2630994.
Website
www.federalbank.co.in
