Education and Career Forum

Can anyone of you kindly let me know what are the expenses covered under Education Loan of Indian Bank? What is the moratorium period for this Bank's Education Loan?

The moratorium period for Education loan scheme of Indian Bank is one year or 6 months after getting a job whichever is earlier. The entire loan amount should be repaid within 10-15 years. Expenses covered under Education loan scheme of Indian Bank is mentioned below :-

--> Fee payable to college / school / hostel
--> Examination fees
--> Amount required for purchase of books / equipment's
--> Travel expenses for studies in abroad
--> Amount required for purchase of computers if required for completion of the course.
--> Caution Deposit, Building fund/ refundable deposit fee
--> Insurance premium for student borrower.

Expenses covered under Education loan scheme of Indian Bank are mentioned below :-

=> College / school / hostel fee
=> Purchase of books/ equipment's
=> Examination fees
=> Passage money for studies abroad
=> Purchase of computer essential for completion of the course.
=> Insurance premium for student borrower.
=> Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course.

The moratorium period is course period plus one year or 6 months after getting a job whichever is earlier.

The moratorium period of education loan scheme under Indian Bank is -

1 year from the completion of course or 6 months after joining a job whichever is earlier.

The expenses included under education loan scheme are :-

- Land
- House/Building/Shops
- Government Securities
- Public Sector Bonds
- NSC
- LIC/KVP/LIP
- Bank Term Deposit
- Scholarships