Education and Career Forum

Hello, I am planning to do Diploma Engineering course. Some of my friends informed me about the South Indian Bank EDUSUM Loan Scheme. I just want to know about the benefits which I can get if I apply for this scheme? Please tell me as soon as possible.

Indian nationals or NRI with Indian passport are eligible.

Student is measure parents to join as co applicant as parent will be principal borrower.

Eligible courses leading to graduate post graduate or postgraduate diploma with approval and University affiliation in India or job oriented.

Securing 85% in each qualifying subjects and overall 75% in qualifying exam in the first attempt.

Finance available for funding tuition fees, exam, library, books insurance premium etc.

Quantum of loan is core specific and ranges from rupees 3 lakhs to 10 lakhs.

Age limit for graduate level is 25 years and 30 years for PG.

Moratorium period will be course period plus one year or six month after getting job Which ever is earlier and loan repayment period is 10 years for loans upto rupees 7.5 lakhs and 15 years for the rest.

Benefits
Nil collateral security upto 1 lacs
Nil margin upto 4 lacs
Third party gurantee for loan upto 3 lacs or more 100% collateral for loan greater than 3 lacs
Finance available for funding
tution fees
Exam
Library
Lab fees
Books
Equipment
Hostel
Uniform
Insurance premium etc
If student is major , parents to join as co applicant else parents will be co borrower.

Securing 85% in each qualifying subjects and overall 75% in qualifying exam in the first attempt. Finance available for funding tuition fees, exam, library, lab fees, books, equipment, hostel, uniform, insurance premium. Quantum of loan is course specific and ranges from Rs. 2.50 lacs to Rs 10 lacs.