Educational loans available at Mumbai

1. Andhra Bank

Maximum Amount for India   : Rs 100000
Maximum Amount Overseas : Rs 500000

Documents Needed             : Bank documents, Academic records

Rate of Interest

Upto 400000 : 12%
Above Rs 400000 : 13.5% pa.

Time to process : 1 week

Tenures: Maximum of 5 years

Eligibility: 1st class marks in previous exams and selected for professional course
Repayment 1 year after completion of course or 3 months after getting a job whichever is earlier.

Contact: 2046160, 2047620

2. Karnataka Bank

Eligibility: Admission approval with previous satisfactory academic record.

Maximum Amount for India    : Rs 800000
Maximum Amount Overseas : Rs 1000000

Documents to be submitted: Previous academic record and admission approval.

Time to Process: Nearly a Month

Rate of Interest

Upto Rs 200000 : 13.5% pa
Above 200000 : 15.5% pa

Tenures: Eight Years

Repayment: At the end of completion of the course.

Contact: 2663725, 2663256

3. Development credit bank

Eligibility: Repayment 6 months after completion of course

Maximum Amount for India    : Rs 500000
Maximum Amount Overseas : 75 % of the course fee.

Documents to be submitted: Marks list, Income proof of guardian, evidence for selection to the courses, copy of ration card, details of admissible expenses.

Time To Process: 1 Week

Rate of Interest

Upto Rs200000   : 13.5%
Above Rs200000 : 15.5 %

Tenures: 3 to 5 years in India and maximum 4 years abroad.

Contact: 2872465

4. Bank of Rajastan

Eligibility: Good academic records and selection for the course

Maximum Amount for India    : Rs 150000
Maximum Amount Overseas : Rs 300000

Documents to be submitted: Mark sheet, proof of admission, proof of cost of course
Time To Process: A Forthnight

Rate of Interest

Upto Rs 25000: 12.75%
From Rs 25000 to Rs 200000 : 14%
Above Rs 200000 : 16%.

Tenures: Till completion of course

Repayment: 3 to 5 years or earlier.

Contact : 2870307

5. Bank of Maharastra

Eligibility: Should have secure admission for in School/College/Institute

Maximum Amount for India    : Rs 200000
Maximum Amount Overseas : Rs 750000

Documents to be submitted: Pass Certificate of Previous School/University/Institute
Time to Process: A Fortnight

Rate of Interest 13.75%

Contact: 2661295, 2652595

6. Indian Overseas Bank

Eligibility: Should have a good academic record.

Maximum Amount for India    : Rs 200000
Maximum Amount Overseas : Rs 600000

Documents to be submitted: Mark sheets,addmission approval,address proof,photgraph,income proof .

Time to Process: 1 Week

Rate of Interest

Upto Rs 400000   : 12% pa
Above Rs 400000 : 13% pa.

Tenures: Maximum of five years

Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

Contact: 2182226

7. HDFC Bank Educational Loans

Eligibility: Students enrolled with an approved Educational Institute and desirous of availing the education loan

Maximum Amount : Loans can be availed upto a maximum of 90% of the total cost as determined by HDFC.

Rate of interest: 14%

Contact: 2820282

8. Catholic Syrian Bank

Eligibility: Minimum age 21 years having 60% marks throughout and has admission approval.

Maximum Amount for India    : Rs 500000
Maximum Amount Overseas : Rs 500000

Documents to be submitted: Academic Records and admission approval.
Time to Process: 1 Week

Rate of Interest

Upto Rs 200000   : 14% pa,
Above Rs 200000 : 16% pa.

Tenures: Maximum 40 months
Repayment: Maximum after 3 months of completion of course or the date of joining of job which ever earlier

Contact: 2660239, 2665641

9. Oriental Bank of Commerce

Eligibility: Must have obtained admission in a reputed institute in india or abroad. Repayment : After completion of course

Maximum Amount for India    : Rs 750000
Maximum Amount Overseas : Rs 1500000

Documents to be submitted: Admission slip, residence proof, age proof, letter from institute

Time to Process: A Fortnight

Rate of Interest

Upto Rs 400000   : 11.5%
Above Rs 400000 : 12.5%

Tenures: Maximum of Seven Years

Contact: 2189286

10. Punjab & Sind Bank

Maximum Amount for India  : Rs 500000
Maximum Amount Overseas: Rs 500000

Documents to be submitted: Admission form, document proof of eligibility, expenditure

Time to Process: A Fortnight

Rate of Interest

Upto Rs 200000 : 12%
Above 200000    : 13.5%

Tenures: Maximum of 6 years

Repayment: Interest with course period after that maximum of 72 EMI

Contact: 2651039