Education and Career Forum

Hello everyone, I am looking forward to apply for an education loan in Federal Bank for studying BTech course. I would like to know about the terms and conditions for applying an education loan in this bank. Can anyone tell me?

Terms and Conditions under Federal Bank Education Loan Scheme:

Quantum of finance is depends on the repaying capacity of the parents / students.
Up to Rs. 4 Lakhs, No margin is applicable. *
Loan above Rs 4 Lakhs, 5% margin is applicable for studies in India and 15% for studies abroad.

Moratorium period is course period + one year.
Up to Rs 4 Lakhs, no security is required.
For loans up to 7.50 Lakhs, third party guarantee acceptable to bank / collateral security
Above Rs 7.50 Lakhs, collateral security with stipulated margin is required.

Expenses covered under Federal Bank Education Loan Scheme are, fee payable to College / School, Hostel, Tuition, Examination, Library, Lab, purchase of books, equipments, instruments, Uniform, Travel expenses, Computer (if it is essential for completion of the course), Caution deposit, Amount payable towards building fund, refundable deposit etc. Expenses for study tours / project work / thesis etc.

For more details, you can visit the below mentioned website link.
https://www.federalbank.co.in/specia...oan#undefined4

Terms and Conditions under Federal Bank Education Loan Scheme:

Quantum of finance is depends on the repaying capacity of the parents / students.
Up to Rs. 4 Lakhs, No margin is applicable.
Loan above Rs 4 Lakhs, 5% margin is applicable for studies in India and 15% for studies abroad.

Moratorium period is course period + one year.
Up to Rs 4 Lakhs, no security is required.
For loans up to 7.50 Lakhs, third party guarantee acceptable to bank / collateral security
Above Rs 7.50 Lakhs, collateral security equal to the loan amount is required.

For more details, you can visit the below mentioned website link.
https://www.federalbank.co.in/specia...oan#undefined4

Originally Posted by Unregistered

Hello everyone, I am looking forward to apply for an education loan in Federal Bank for studying BTech course. I would like to know about the terms and conditions for applying an education loan in this bank. Can anyone tell me?

Terms and conditions, under Federal Bank education loan scheme are given below:

Students can get up to Rs 10 Lakhs for studies in India

There is no margin up to Rs 4 Lakhs and above Rs 4 Lakhs – 5% for studies in India

Federal Bank education loan covers the following expenses: Fee payable to college, tuition, hostel, library, examination, laboratory, cost of books, uniform, instruments, computer (if necessary for the course), study tours, thesis, project work, caution deposit, building fund, etc.

Moratorium or holiday period – Course period + one year and loan repayment period – moratorium period + 15 years

Documents should be executed by the student and parents as joint borrowers

There is no security for up to Rs 4 Lakhs, Third party guarantee or collateral security for loans up to Rs 7.50 Lakhs and above Rs 7.50 Lakhs – collateral security with stipulated margin