Education and Career Forum

Can you please tell me what are the terms and conditions are there in the Education Loan scheme of Federal Bank? I am planning to apply an Education Loan in this Bank. Kindly tell me its terms and conditions first.

The detailed terms and conditions of education loan scheme in Federal Bank have been enclosed in the attached document. Kindly refer the attached document and get all details of education loan scheme.

Terms & Conditions to apply for an Education Loan in Federal Bank are listed below :-

1. Margin :-
--> Up to Rs 4 lacs :- No Margin
--> For studies in India above Rs 4 Lakhs :- 5%
--> For Studies Abroad above Rs 4 Lakhs :- 15%

2. Loan Period :- 5 to 7 years.

3. Co-obligants :-
The documents should be executed by you and your paren / guardian as joint borrowers.

4.Security :-
--> Up to Rs. 4 lacs :- No security
--> For loans up to 7.5 lacs :- Third party guarantee acceptable to bank / collateral security.
--> Above Rs 7.50 Lakhs :- Collateral security with stipulated margin is required.