Education Loan Options for Shiv Nadar University Students. Bank of India Education Loan Scheme for Students Rs. 10 Lacs

Transcription

1 Education Loan Options for Shiv Nadar University Students Maximum Loan Amount Bank of India Up to Rs lacs BR % = 13.50% BR % = 13.00% Concessions If interest is serviced during the 1% Interest concession available for moratorium period only - 0.5% for limits up to Rs. 50,000 Concessions for Women % for limits over Rs. 50,000 Other Concessions 0.5% for professional courses like Engineering - Course Period + 1 Year or 6 Months after getting job, - Loan to be repaid in 7-10 years after the above period Rs lacs to Rs. 7.5 lacs Penal Interest Insurance Cover Contact Point No Collateral security in the form of a suitable third party guarantee Co-obligation of Parents together with tangible Collateral security of suitable value along with the assignment of future income of the student. 2% for loans above Rs.4 lakh for the overdue amount and overdue period Optional Term Insurance cover I) Head Marketing Bank of India - Zonal Office STC Building - B,32, Sector 62, Noida Tel. : to zo.ghaziabad@bankofindia.co.in II) Chief Manager Bank of India - Sector 18 Branch, Noida Tel. : , sec18noida.ghaziabad@bankofindia.co.in Page 1 of 9

2 Maximum Loan Required Karur Vysya Bank Base Rate (As determined by Bank) Currently 11.25% Up to Rs lacs BR % = 12.75% - Course Period + 1 Year or 6 Months after getting job, - The loan is repayable in 5-7 years after the above period Guarantor Father/Guardian in case of Individual Applicant Collateral Above Rs lacs Contact Point Collateral and assignment of future income Mr. Vinoth Kumar Chief Manager Karur Vysya Bank K 10, Basement & Ground Floor, Sector 18, Noida Tel. No.: / /495 noida@kvbmail.com Page 2 of 9

3 Maximum Loan Required Union Bank of India Male Student Female Student BR % = 14.25% BR % = 13.75% Above Rs Lacs & Up to Rs lacs BR % = 14.75% BR % = 14.25% BR % = 14.00% BR % = 13.50% - Course Period + 1 Year or 6 Months after getting job, - Loan to be repaid in 5-7 years after the above period Scholarship/assistance to be included in margin Rs lacs to 7.5 lacs Other Condition No A suitable third party / personal guarantee acceptable to the bank Collateral security of suitable value along with co-obligation of parents/guardian/third party accompanied by assignment of future income of the student One of the parent has to be co-applicant to the loan Contact Points Noida: Ms. Pallavi Shree Contact No. : Address : Union Bank of India, Brahamaputra Complex, Sector 29, Noida noida@unionbankofindia.com Chennai: Contact Nos. for Marketing Officers, Retail Loan Point Mr. Shiv Kumar : Mr. Soumit Das : Mr. Utsav Behra : Address : Union Bank of India, Union Loan Point 139 Broadway, Chennai Page 3 of 9

4 Maximum Loan Amount Bank of Maharashtra BR % = 12.25% Above Rs lacs BR % = 13.25% Concessions If interest is serviced during the 1.00% interest concession available only for moratorium period - Loan will be granted to student with parent as co-borrowers Clean - Course Period + 1 year OR 6 months after getting job - Loan with interest is repayable in 60 EMIs Rs lacs to Rs. 7.5 lacs Satisfactory third party guarantee Value of collateral security after providing requisite margin should be equal to the quantum of finance plus 2 acceptable guarantor Page 4 of 9

5 Maximum Loan Amount Canara Bank BR % = 13.50% Loans above Rs Lacs & up to Rs lacs BR % = 14.50% BR % = 12.50% Concessions If interest is serviced during the 0.50% Concessions for Girls 1.00% - Loan is given jointly to the student and parent/guardian - Assignment of Future Income of the Student is required Rs lacs to Rs. 7.5 lacs Penal Interest - Repayment commences, two years after completion of the course or six months after getting employment, - Loan with interest is repayable in equated monthly instalments with 5-7 years No Satisfactory third party guarantee Collateral security equal to 100% of the loan amount 2% on amount in default for the delayed period Page 5 of 9

6 Page 6 of 9

7 Maximum Loan Amount Corporation Bank BR % = 12.10% Above Rs Lacs & Up to Rs lacs BR % = 13.10% BR % = 12.60% Concessions 1% interest concession is available during repayment holiday If interest is serviced during the period if the interest is serviced as and when debited, but not later than 30 days of debit Aggregate Concessions SC/ST Category Other Than SC/ST Category Men 0.25% Physically Challenged Men 0.75% 0.50% Women 0.50% 0.50% Physically Challenged Men 1.00% 1.00% - Course Period + 1 Year or 6 Months after getting job, Co-obligation of Parent/s, Grand Parent/s (if parents are deceased) and security as given below: No other security Rs lacs to Rs. 7.5 lacs Collateral in the form of suitable third party guarantee. Tangible collateral security along with the assignment of future income of the student for payment of instalments. Penal Interest 2% for loans above Rs.4 lakh for the overdue amount and overdue period Contact Point Mr. Vimal Kumar Chief Manager Corporation Bank 48, Community Centre, New Friends Colony New Delhi Tel.: , cb481@corpbank.co.in Page 7 of 9

8 Sundaram Finance Group Sundaram Finance ties up with Shiv Nadar University to provide Education Loans at attractive interest rates to students of the following states only: 1. Tamil Nadu 2. Karnataka 3. Kerala 4. Andhra Pradesh Contact Points: Tamil Nadu North Tamil Nadu South Karnataka Kerala Andhra Pradesh Location Covered : Chennai, Kancheepuram, Chengalpet, Salem, Puducherry, Namakkal, Dharmapuri, Hosur, Attur, Mettur, Vellore Mr.Srinivasan : rsrini@sundarambnpparibashome.in Location covered : Coimbatore, Trichy, Madurai, Thanjavur, Pudukottai, Pattukotai, Dindigul, Erode, Thiruchengode, Pollachi, Mettupalayam, Tirunelveli, Ramanathapuram, Tuticorin, Tirupur, Karur Mr.Anandhan : anandhan@sundarambnpparibashome.in Mr.Vasu : vasu@sundarambnpparibashome.in Mr.Sajeesh : sajeesh@sundarambnpparibashome.in Mr.Dattu Reddy : dattureddy@sundarambnpparibashome.in Students can contact/write to the respective area heads of their states and mark a copy of all s to jayag@sundarambnpphome.in Page 8 of 9

9 Note: The details mentioned above are meant for the purpose of information only. The final details need to be worked out as per the loan agreement between the bank(s) and the student(s). Page 9 of 9