Vidyasagar Educational Loan

Eligibility :
	Courses a) Studies in India Graduation Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc. b) Studies abroad: Job oriented, technical / professional courses- (graduation / post graduation
Loan Details
	Coverage of expenses  Payment of course fees Purchase of books, equipments, instruments, uniform Payment of hostel fees, examination fees, study tours Passage expenses (for studies abroad) Quantum  Need based finance For studies in India : Max. Rs.10.00 lacs  For studies abroad : Max Rs.20.00 lacs Margin : Upto to Rs.4.00 lacs - Nil Above Rs.4.00 lacs for studies in India : 5% studies abroad : 15% Security : Loan is given jointly to the student and parent /guardian Assignment of future income of the student  Upto Rs.4.00 lacs - No security Above Rs.4.00 lacs upto Rs. 7.50 lacs - Satisfactory third party guarantee Above Rs. 7.50 lakhs: Collateral security equal to 100% of the loan amount.
Rate of Interest
	As per bank rules
Repayment
	Commences one year after completion of the course or six months after getting employment, whichever is earlier. Loan with interest is repayable in equated monthly instalments within 5 to 7 years.