Education and Career Forum

I want to know about the details of the education loan scheme for my MBA course in Kotak Mahindra Bank. I am going to apply for MBA course, I am already graduate and I need to get an education loan for this course. Kindly let me know about Kotak Mahindra Bank education loan scheme for this course.

Details of Kotak Mahindra Bank Education Loan Scheme for MBA course are mentioned below:-

—> Eligibility:- You should have secured admission to MBA course in a recognised college/ university.

—> Quantum of Finance:- Rs. 10 lakhs for studies in India and Rs. 20 lakhs for studies in Abroad.

—> Loan processing charges:- Upto 2% of the loan amount plus GST.

—> Rate of Interest:- 11.5% to 24% per annum.

—> Prepayment charges:- Lock in period for 12 months. After 12 months, 5% foreclosure charges + GST on principal outstanding.

—> Moratorium Period:- Course Period plus one year or six months after getting a job whichever is earlier.

Kotak Mahindra Bank offers Education Loan for study in India and abroad. For study in India, maximum Loan Limit is Rs. 10 lacs and Rs. 20 lacs for abroad studies. In order to apply for Education Loan in Kotak Mahindra Bank, applicants should be an Indian national and have a secured admission in India or abroad through an entrance test or through merit based selection process. There is no specific restriction regarding the age of a student. However age of co-applicant / co-borrower / guarantor should be minimum 21 years at the time of loan origination and maximum age at the time of loan maturity can be 70 years. Upto loan Rs. 4 Lacs, no margin is available and above Rs. 4 Lacs, 5% margin for study in India and 15% for abroad studies available. There is no collateral or security for loan upto Rs. 7.5 Lacs. Moratorium period is course period + 1 year or 6 months after getting job whichever is earlier.

For detailed information, visit:
https://www.google.com/amp/s/www.kot...-loan.amp.html

Originally Posted by Unregistered

I want to know about the details of the education loan scheme for my MBA course in Kotak Mahindra Bank. I am going to apply for MBA course, I am already graduate and I need to get an education loan for this course. Kindly let me know about Kotak Mahindra Bank education loan scheme for this course.

Indian students who have obtained admission to the MBA course through an entrance examination or through the merit based selection process are eligible to apply for the Kotak Mahindra Bank education loan scheme. Eligible students can get Rs 10 Lakhs as education loan for studying MBA in India. They have to provide necessary security for getting the education loan in Kotak Mahindra Bank. They have to apply with documents like an application form, 2 photographs, proof of residence, income details, admission letter, letter from college, fee schedule, academic mark sheets, etc. Students can find the details in the Kotak Mahindra Bank website link given Click Here