Education Loans

We Help You to Achieve Your Dream

Kerala Gramin Bank education loans aims at providing financial support to meritorious students for pursuing higher education in India and Abroad. The main emphasis of this scheme is to provide opportunity for meritorious students to pursue higher education with the financial support from the Bank at affordable terms and conditions.

Purpose

  • For pursuing higher education in recognised institutions to students who secured admission through a merit based selection process.

Eligibility

  • The student should be Indian National.
  • Minor student should be represented by parent/guardian.
  • Loan shall be in the joint names of student and parent/guardian.
  • Student should have secured admission for higher education in recognised institutions in India or abroad through a merit based selection process.

Limit & Margin

    Limit

  • In India - Upto 10 lakhs; subject to Course wise cap
  • Abroad - Upto 20 lakhs; subject to Course wise cap
  • Margin

  • Upto 4 lakhs - Nil
  • Above Rs.4 lakh for Studies in India -5%
  • Abroad -15%

Security

    Loans upto Rs. 4 lakh

  • No security, Parent should be joint borrower.
  • Assignment of future income of the student, for payment of installments
  • Loan above Rs.4 lakh and upto Rs. 7.5 lakh

  • Parent should be joint borrower
  • Third party guarantee having net worth to cover the loan amount
  • or equitable mortgage of landed property with sufficient value, covers at least 150% of the loan amount
  • Assignment of future income of the student, for payment of installments
  • Loan above 7.5 lakh

  • Parent should be joint borrower
  • EM of landed property with sufficient value, covering atleast 150% of the loan amount.
  • Assignment of future income of the student, for payment of installments

Repayment

  • For loans above 7.5 lakh, maximum repayment period is 15 years
  • For loans above 5 lakh, maximum repayment period is 10 years
  • Moratorium period (Course period + one year or 6 months after getting job whichever is earlier) is avialable.

Interest Rates & Charges

  • Please visit Loan Interest Rates page for details
  • For pursuing higher education in recognised institutions to students who secured admission through a merit based selection process.
  • The student should be Indian National.
  • Minor student should be represented by parent/guardian.
  • Loan shall be in the joint names of student and parent/guardian.
  • Student should have secured admission for higher education in recognised institutions in India or abroad through a merit based selection process.

    Limit

  • In India - Upto 10 lakhs; subject to Course wise cap
  • Abroad - Upto 20 lakhs; subject to Course wise cap
  • Margin

  • Upto 4 lakhs - Nil
  • Above Rs.4 lakh for Studies in India -5%
  • Abroad -15%

    Loans upto Rs. 4 lakh

  • No security, Parent to be joint borrower.
  • Assignment of future income of the student, for payment of installments
  • Loan above Rs.4 lakh and upto Rs. 7.5 lakh

  • Parent to be joint borrower
  • Third party guarantee having net worth to cover the loan amount
  • or equitable mortgage of landed property with sufficient value, covers at least 150% of the loan amount
  • Assignment of future income of the student, for payment of installments
  • Loan above 7.5 lakh

  • Parent to be joint borrower
  • EM of landed property with sufficient value, covering atleast 150% of the loan amount.
  • Assignment of future income of the student, for payment of installments
  • For loans above 7.5 lakh, maximum repayment period is 15 years
  • For loans above 5 lakh, maximum repayment period is 10 years
  • Moratorium period (Course period + one year or 6 months after getting job whichever is earlier) is avialable.

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