Federal Bank - Fed Scholars Loan Scheme

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Fed Scholars loan will provide financial support to deserving and meritorious students for pursuing various regular courses in select premier institutes.

Eligibility :

Student

Applicant should be an Indian National
Applicant shall have secured admission to any of these select institutes
Management Quota seats shall not be considered under the scheme.

Loan Details

Quantum

Fed Scholars scheme provides Loan up to Rs.20 Lakhs without any collateral security

Documents Required

Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
Offer letter / Admission letter
Basic Qualification & mark-list
Proof of Fees structure

Margin

Nil up to Loan amount of Rs 10L
5% for loans above Rs 10L

Re-imbursement

Reimbursement of expenses incurred during the current academic year of the course (in which loan is availed) can be considered subject to the submission of Documentary evidence.

Co-obligants
Spouse /Parent /parents-in –law/ Guardian/close relatives should join the loan documents as joint borrower/guarantor.

Security
NIL

Rate of Interest

For interest rate check out this link, Federal Bank Interest Rate

During moratorium period only simple interest will be charged.

Repayment

Total Loan period = Moratorium Period (course period + maximum 1 year) + maximum 10 years.

Repayment of the loan is made as Equated Monthly Installments (EMI).

You can use any one of the ways to repay the loan:

Cheques
Standing instructions at your branch
FedNet - Internet Banking
Automated Payment through ECS
Mobile Banking

No repayment during Moratorium period.

How to Apply

To avail the loan, the candidates can choose any of these:

- Download the application form and submit it at your branch
- Call Federal bank contact centre executives
- Please visit any of the branches

Contact Details

The Federal Bank Limited
Federal Towers, Aluva - 683 101, Kerala, India
Telephone No. : +91-484-2623620 to 29
Fax No. : +91-484-2622672
E-mail : Contact Now

Click here for the nearest bank branches

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.

Tags

Federal Bank Education Loan , Premier Education Institute Loan

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