Educational Loans

Financial support to meritorious students for pursuing higher education in India or abroad (applicable only to merit quota - IBA model).

Courses Eligible

  • Graduation & Post Graduation.
  • Professional Courses (Engineering, Medical, Management, Agriculture).
  • ICWA , CA, CFA etc.
  • Courses conducted by IIM, IIT, IISC, NIFT etc.
  • Courses offered by National Institutions.
  • Studies abroad.

The courses should be recognized by State/Central Govt.

Institution offering the course also should be recognised by the appropriate authorities.


  • Any major student or a minor student represented by parent or guardian of Indian Nationality.
  • Secured admission on the basis of merit to Professional/ technical/ other courses through entrance test/selection process.
  • Any student of Indian Nationality who has secured admission in any Foreign University subject to other eligibility conditions.

Loan Amount

  • For studies in India  :  Maximum 10 Lakhs per Course or actual whichever is less.
  • For studies abroad  :  Maximum 20 Lakhs per Course or actuals whichever is less.

Eligible expenses for deciding the finance

  • Fee payable to College/School/Hostel
  • Lodging and Boarding expenses.
  • Examination/Library/ Laboratory fees.
  • Purchase of books/Equipment/Instrument/Uniform/Travel expenses/passage money for studies abroad.
  • Purchase of Computer if certified by the institution that it is essential for completion of the course.
  • Any other expenses require_onced to complete the course.


  • Up to 4 Lakhs - Nil
  • Above 4 Lakhs - 5%
  • Studies abroad - 15%


  • Parents to join as co-borrower

Security (For meritorious students- IBA scheme)

  • Up to 4 Lakhs - No collateral security.
  • Above 4 Lakh - Up to 7.50 Lakh- collateral security in the form of third party guarantee.
  • Above 7.50 Lakhs – Tangible Collateral Security worth 150% of the loan amount.


  • Moratorium  :  Course period +1 Year or 6 months after getting job, whichever is earlier. Loan to be repaid in 5-7 years.

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