Jammu & Kashmir Bank

Purpose of the loan

Jammu and Kashmir Bank Education Loan Scheme provides financial support to deserving/meritorious students for pursuing higher education in India and abroad.

Eligibility Criteria

 

Student eligibility:

• Should be an Indian National
• Should have secured admission to professional/technical courses through entrance test/selection process.
• Should have secured admission to foreign universities/institutions
• Should have passed the qualifying examination for admission to the courses.
• Employed person intending to improve their educational qualification and/or receive training in modern technology in India or abroad can also be assisted under this scheme provided training offers prospects of better placement.

Courses Eligible

Studies in India:

• Graduate /  Courses in :BA, B.Com., B.Sc., etc. Medicine, Surgery, Engineering, Hotel Management, Design, Architecture, Bio-chemistry, Agriculture, Veterinary etc.
• P.G Courses in : Business Management, Chartered or Cost Accounting , Company Secretaryship, Masters & PhD.
• Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
• Computer Certificate Courses: of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
• Courses like ICWA, CA, CFA etc.
• Courses Conducted by IIM, IIT, IISc, XLRI. NIFT etc.
• Regular  Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority.
• Courses offered in India by reputed foreign universities.
• Evening courses of approved institutes.
• Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
• Courses offered by National Institutes and other reputed private institutions..
• Courses under Distance Education/ learning leading to professional/ technical certificates/ degree/ diploma courses etc offered/ conducted by reputed colleges/ universities/ institutions recognized/ approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
• Teacher Training Courses/ Nursing Courses/ B.Ed. conducted by institutions that are approved by Central Government/ State Government provided the said courses lead to degree or diploma and not to certification course.

Studies Abroad:

• Graduation: For job oriented professional/ technical courses offered by reputed universities.
• P.G Courses: MCA, MBA, MS, etc.
• Courses conducted by CIMA- London, CPA in USA etc.

Quantum/ Amount of Loan

·  Rs.10.00 Lacs for studies in India .
·  Rs.20.00 Lacs for studies abroad

Margin/ Allowance:

• For loans upto Rs. 4 lacs - nil
• For loans above Rs. 4 lacs Studies in India - 5% Studies abroad - 15%

Rate of Interest:

            Up to Rs 25000 - 9.50%
            Above Rs.0.25 lacs & up to Rs.5.00 lacs – 10.50%
            Above Rs.5.00 lacs & up to Rs10.00lacs – 11.50%
            Above Rs.10.00lacs & up to Rs.20.00lacs – 12.50%

Repayment/ Tenures:

• Repayment Holiday/ Moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier.
• The loan to be repaid in 5 to 7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum of two years

Security:

• Personal guarantee of borrower's
• Collateral security equal to amount of loan.

Term Loan For B.Ed/ M.Ed. Courses

 

Eligibility Criteria:

  Student eligibility:

• Student should be an Indian National.
• Should be a graduate in any discipline from any recognized university.
• Should have secured admission to the recognized Institution/College imparting the B.Ed/M.Ed Course.
• Loan application should be forwarded by the Principal of the college.

Quantum/ Amount of Loan: Maximum: Rs 25,000.

Margin / Allowance:  10%

Rate of Interest: PLR with quarterly rests.

Repayment/ Tenures: 12 equal monthly installments.

Security: Third party guarantee of one person

Processing Charges: 0.05% (Minimum: Rs.25/-)

Budshah Primary Education Finance

Why For / Purpose /Objective:

To provide opportunity to children to have good quality primary education.
To finance the entire cost of education of a child including school fee, uniform, books, etc.

 

Eligibility Criteria

All Children above the age of 3 years. Finance granted in  the name of  Guardian.

Quantum/ Amount of Loan:              

Class	School	Maximum Amount (Rs)
Pry.Edu.	Private	30,000.
Pry.Edu	Govt	2,000.
Sec.Edu	Private	25,000.
Sec.Edu.	Govt.	5,000

Margin/ Allowance: 10% Rate of Interest:PLR with quarterly rests.

Repayment/Tenures:

12 equal monthly installments. There shall be no moratorium period

Security:

Personal guarantee of the parent/guardian.
Third Party guarantee of one person*.

Processing Charges:

0.05% of the amount sanctioned with a minimum cap of Rs 25/- to be paid upfront

Contact

Delhi Tel: 011- 27511169,
Bangalore Tel: 080- 25213856,
Chennai Tel: 040- 24313851,
Hyderabad Tel: 040- 24743829,24615539,
Kolkata Tel: 033- 22485457,
Mumbai Tel: 022- 22610056.

Website

  http://www.jkbank.net/