Education Loan
Education Loan
Invest in your future with APCOB Bank’s Education Loan. Whether you’re aspiring for higher studies in India or abroad, our tailored financing solutions and competitive interest rates ensure that nothing stands between you and your educational dreams. Secure your tomorrow – inquire about our Education Loan today.”
Eligibility
Any Resident Indian can apply for the loan.
Applicant Minimum age should be above 18 years.
The student should have secured admission through entrance test/eligibility test/merit based selection process.
Regular income mandatory for the parents/siblings/guarantor
Features & Benefits
Liberating parents from Loan burden.
Loan for higher studies in India/Abroad
Can avail Moratorium during course period.
Wide range of expenses covered.
Concession of 1% on rate of interest if opt for repayment of monthly interest in moratorium period.
Tax benefit under Section 80E.
| Interst Rates % | |||
|---|---|---|---|
|
S. No |
Cibil Score |
Rate of Interest |
|
|
i. |
650 to 700 |
11.75 |
|
|
ii. |
701 to 750 |
11.50 |
|
|
iii. |
751 & above |
11.25 |
|
|
iv |
800 & above |
11.00 |
|
Security
Up to Rs. 5.00 lakh – One Surety of a person having secured permanent employment having residual service not less than the proposed loan repayment period. The net salary should not be less than 1/3rd of Gross salary after deducting proposed EMI or Collateral in the form of immovable property
Loans above Rs. 5.00 lakhs – One surety of a person having secured employment plus collateral security of Immovable property to the extent of 100% of the loan amount.
Collateral Security: Urban Property or Agricultural lands. The 100% SRA value of the property offered as security should not be less than loan amount to be sanctioned or the 150% of market value (by approved valuer) of the property.
Collateral Security can also be accepted in the form of our own Bank Term Deposits, NSCs etc., and also in combination with immovable property subject to lien marking.
Related Services
Mortgage Loan
Gold Loan
Personal Loan
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