Why For/Purpose /Objective:
State Bank of Hyderabad provides the education loan that offers to extend financial assistance to all eligible / deserving / meritorious students for pursuing higher education in India & Abroad.
Eligibility Criteria
- student should be an Indian National
- Secured admission to professional/ technical courses through Entrance Test / Selection process.
- Secured admission to foreign University / Institution.
Quantum/ Amount of Loan
Need based finance subject to repaying capacity of the parents / students.-
Studies in India - Maximum Rs.10.00 lacs
Studies abroad - Maximum Rs.20.00 lacs
Margin/ Allowance:
Upto Rs.4.00 Lacs – NIL
Studies in India - 5% AND Studies Abroad - 15%
Scholarship /assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.
Rate of Interest :
At competitive rates on reducing balance only. Please check-up for latest rates at your nearest branch Interest is compounded at quarterly basis.
Security:
- Upto Rs. 4.00 Lacs - No Security (Co-obligation of parent / guardian is compulsory).
- Above Rs.4.00 Lacs and upto Rs.7.50 Lacs: Collateral in the form of a suitable third party guarantee.
- Above Rs.7.50 Lacs: - Collateral security of suitable value or Co-obligation of parents / Guardians / third party guarantee along with the assignment of future income of the student for payment of installments.
Contact
Delhi Tel: 011- 23327738, 23351066,
Bangalore Tel: 080- 22244997, 22247052,
Chennai Tel: 044- 28592683, 28592684,
Hyderabad Tel: 040- 23387625, 23387626,
Kolkata Tel: 033- 24641267, 24640388,
Mumbai Tel: 022- 22692111.
Website
http://www.sbhyd.com/
