http://mhrd.gov.in/technical-education-l
http://mhrd.gov.in/institutions-national-importance
http://naac.gov.in/index.php/en/2-uncatcgorised/32-accrcditation-status
https://www.nbaind.org/accreditationprogram/AccreditedProgram
www.ugc.ac.in .
www.cducation.nic.in
www.aicte.org.in
www.topuniversities.com
www.qs.com
- Passport to be mandatorily submitted in case of Studies Abroad.
- Aadhaar should be made mandatory, wherever applicable as per Supreme Court decision.
- Pan Card is a mandatory document and to be submitted along-with application or before 1st disbursement.
- Any other document as specified by the Financing Bank to enable to take the credit decision.
Minimum Margin Requirements | Study In India | Study Abroad |
Up to 4.00 lakhs | Nil | Nil |
Above 4.00 lakhs and up to 7.50 lakhs* | 5% | 15% |
Above 7.50 lakhs | Banks discretion | Banks discretion |
* Margin up to 7.50 lakhs may be NIL if loan is eligible for the Credit Guarantee, as under the extant guidelines |
- Scholarship/ assistantship to be included in margin.
- Margin may be brought- in on a pro-rata basis as and when disbursements are made.
Loan Amount | Security Required |
Upto 7.50 lakhs* |
|
Above 7.50 lakhs |
|
*Note: No collateral security/ third-party guarantee to be obtained in case of loans that are eligible for CSIS/ Credit Guarantee coverage | |
Note: As per the CSIS scheme revised guidelines (effective from 01.04.2022) ‘No collateral security or third-party guarantee is to be obtained for Education Loan sanctioned upto Rs. 7.50 lakh and the loanee bank is to ensure that this part of the loan is covered for credit guarantee under Credit Guarantee Fund Scheme for Education Loan (CGFSEL) |
- The loan documents should be executed by the student and the parent/ guardian as joint borrower. However, banks will have discretion to waive this clause.
- The student in all cases will be the primary borrower and parents / guardians will be the co-borrowers. The future income of the student to be assigned to the bank for repayment of loan.
Note:
- If, due to lack of access to internet facility, any application is received in physical form, the same has to be uploaded on VLP immediately after sanction.
- The sanction as well as rejection (with reasons) should also be reported by the bank concerned on the VLP portal.
Loan Amount | Processing Fee |
Up to Rs. 7.50 lakhs | NIL |
Above Rs. 7.50 lakhs | Banks discretion |