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Lakshmi Vilas Bank
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Purpose
To meet the expenses connected with the pursuit of higher secondary
education, specific courses of study at recognized institutions, including
professional/job-oriented courses, which offer reasonable opportunity
for employment & loan repayment capacity on successful completion.
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Loan Details
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Quantum
- For Studies in India : Maximum of Rs .10.00 Lacs
- For Studies Abroad: Maximum of Rs.20.00 Lacs.
Margin
- For loans up to Rs.4.0 lacs - No minimum stipulated
- For loans above Rs. 4 lacs
- Studies in India : Minimum -5%
- Studies abroad : Minimum -15%
Security
- For loans up to Rs.4.00 lacs : No security.
- For loans above Rs.4.00 lacs : Collateral security of value equal
to 100% of the loan amount or personal guarantee of third person known
to the Bank whose net worth is at least equal to 200% of the loan
amount or a combination of both
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| Rate of Interest |
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- For loans up to Rs.4.00 lacs: At BPLR (PER: 14.75% p.a.)
- For loans above Rs.4.00 lacs: BPLR+1.00% (PER: 15.75% p.a.)
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| Repayment |
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To be repaid within a maximum period
of 84 months, with a holiday period of course period + 1 year or 6 months
after employment whichever is earlier.
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| Contact Details
Administrative Office
Lakshmi Vilas Bank,
Salem Road, Karur - 639006 Tamil Nadu
Phone : (04324) 220051, 220052, 220053,
220054, 220055, 220056, 220057, 220058, 220059, 220060
Fax : 04324-220068, 220069
Toll Free : 1800-425-2233
E-mail : Contact
Now
Website : visit
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Note : Since
the rules, regulations, eligibility conditions, repayments and interests rates
etc. are revised by the banks from time to time in keeping pace with the changing
capital market conditions, students and parents are advised to thoroughly check
the terms and conditions of educational loan scheme on offer at the time of application.
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