Why For/Purpose /Objective:
State Bank of Travancore education loan scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad.
To meet the tuition and other fees\Examination\Library\Laboratory fee, cost of books\purchase of Computers\equipments\instruments\uniforms and the cost of passage for studies abroad. Caution Deposit, Building Fund, Refundable deposit subject to 10% of the Tuition Fee. Any other expenses required to complete the course like study, tours, project work, thesis etc. also be financed.
Eligibility Criteria
- The student should be an Indian National (NRIs not eligible)
- have secured admission to professional\technical courses through entrance test\ merit based selection process conducted by a Govt Agency / University.
- have secured admission to foreign university institution
Those who have not qualified through Entrance Test / Merit based selection procedure should have secured 50 % marks for general and 45% marks for SC / ST Candidates in the qualifying subjects, in the qualifying examination to be eligible for loan.
Courses Eligible
Studies in India
- Graduation Courses- B.A, B.COM, B.Sc. etc.
- Post Graduation Courses: Masters Courses, Ph D, etc.
- Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
- Other courses leading to diploma, degree conducted by Colleges / Universities approved by UGC / Govt / AICTE / AIBMS / ICMR.
- Courses offered by National Institutes and other reputed private institutions.
- Courses offered in India by reputed foreign universities.
- Computer Certificate courses of reputed institutes accredited by Department of electronics or institutes affiliated to Universities.
- ICWA, CA, CFA
- Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
- Regular Degree / Diploma courses like Aeronautical, Shipping etc approved by Director general of Civil Aviation / shipping if pursued in India. It also to be recognised by local aviation, Shipping authority ( Pilot Training Course not included).
- Evening courses of approved institutions.
- Vocational Training and Skill development study courses. Distant / Offsite Education Programme not eligible for loan.
Studies Abroad
- Graduation: For Job oriented professional/technical courses offered by reputed Universities.
- Post Graduation: MCA, MBA, MS etc.
- Courses conducted by CIMA London, CPA in USA etc.
Quantum/ Amount of Loan
Studies in India: Maximum Rs 10.00 lacs
Studies abroad: Maximum Rs. 20.00 lacs.
Margin/ Allowance:
- For loan upto Rs 4.00 lacs: NIL
- For loan above Rs 4.00 lacs:
Studies in India: 5%
Studies abroad: 15%
ate of Interest
With effect from 01-07-2009
Upto Rs 4.00 lacs: 11.50%
Above Rs 4.00 lacs: 12.25%
0.5 % concession for Girl student
Repayment /Tenures
To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.
Security:
Loans upto Rs.4 lacs: Co-obligation of parent/guardian/spouse/parent-in-law/grand parents as the case may be. No security
Above Rs.4 lacs and upto Rs.7.5 lacs Co-obligation of parent/guardian/spouse/parent-in-law/grand parents as the case may be along with collateral in the form of a satisfactory third party guarantee required.
For loans above Rs7.5 lacs Co-obligation of parent/guardian/spouse/parent-in-law/grand parents along together with tangible collateral security of suitable value along with assignment of future income of the student for payment of instalments and tangible security of suitable value.
Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin.
Processing Charges:
No processing fee for studies in India.
For studies abroad
Upto Rs.4 lacs - 0.5%
Above Rs.4 lacs - 0.4%
Contact
Delhi Tel: 011- 23414247,
Bangalore Tel: 080- 25570211,
Chennai Tel: 044- 28523538,
Hyderabad Tel: 040- 24654686,
Kolkata Tel: 033- 22264186,
Mumbai Tel: 022- 22690900.
Website
http://sbt.co.in/
