Education and Career Forum

Hello, I am planning to do Diploma Engineering course. Some of my friends informed me about the Tamilnad Mercantile Bank Short Term Study 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.

What are the benefits of applying for Tamilnad Mercantile Bank Short Term Study Loan Scheme?

Lower Interest rates. ...
Moratorium holiday-Pay after your course completion. ...
A wide range of expenses covered. ...
Education loan interest subsidy. ...
Tax benefit- Section 80E.

The benefit of applying for the Tamil Nadu Mercantile Bank Short Term Study Loan Scheme is you can take up to a maximum of 10 Lakhs for studies in India. Loan up to 4 lakhs there is no security and above 4 lakhs up to 7.50 lakhs suitable third party guarantee and above 7.50 lakhs 100% collateral in any of the form of immovable property/NSC/LIC Policy/RBI Bonds or any transferable government securities. A loan coverage of expenses is given below.

--> Fee payable to College/School/Hostel.
--> Examination/Library/Laboratory Fee.
--> Purchase of Books/Equipments/Instruments/Uniforms.
--> Caution Deposit/Building Fund/Refundable Deposit supported by Institution Bills/Receipts.
--> Travel Expenses/Passage Money for Studies Abroad.
--> Purchase of Computers - essential for completion of the course.
--> Any other expenses required to complete the course like study tours, project work, thesis, etc.