Star Educational Loans

Eligibility :
	Student Should be an Indian National Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process. Courses a) Studies in India Graduation courses : BA, B.Com., B.Sc., etc. Post Graduation courses : Masters & Phd. Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university. Courses like ICWA, CA, CFA, etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt. Courses offered in India by reputed foreign universities with prior approval of Head Office. Evening courses of approved institutes. Other courses leading to diploma/degree, etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR, etc. Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office. b) Studies abroad: Graduation : For job oriented professional/technical courses offered by reputed universities. Post Graduation : MCA, MBA, MS, etc. Courses conducted by CIMA - London, CPA in USA, etc.
Loan Details
	Coverage of expenses  Fee payable to college/school/hostel. Examination/Library/Laboratory fee. Purchase of books/equipments/instruments/uniforms. Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts. Travel expenses/passage money for studies abroad. Purchase of computers - essential for completion of the course. Any other expense required to complete the course - like study tours, project work, thesis, etc. Quantum  Needbased finance subject to repaying capacity of the parents/students with margin and the following ceilings : Studies in India - Maximum Rs.10.00 lakh Studies abroad - Maximum Rs.20.00 lakh. Margin : Upto Rs.4 lakh : Nil Above Rs.4 lakh - Studies in India : 5% Studies Abroad : 15% Security : Upto Rs. 4 lakh : No security Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee. Above Rs.7.5 lakh : Collateral security of suitable value or suitable third party guarantee alongwith the assignment of future income of the student for payment of instalments. No processing/upfront charges. Documents charges at actual.
Rate of Interest
	Upto Rs.4.00 lacs – 2.50% below BPLR., Min. 9.50% p.a. Above Rs.4.00 lacs upto Rs.7.50 lacs – 2.00% below BPLR, Min. 10.00% p.a. Above Rs.7.50 lacs - 1.25% below BPLR, Min. 10.75% p.a. Simple interest during the repayment holiday/moratorium period. Penal interest @2% for loans above Rs.4 lakh for the overdue amount and overdue period. Int. Concession of 0.50%p.a. for woman beneficiaries 1% int. concession if interest is serviced during moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period)
Repayment
	Repayment Holiday/Moratorium Period is course period + 1 year or 6 months after getting job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.