Federal Bank Education Loan

Purpose

Higher studies in India & Abroad
Loan Amount

Rs 0.50 Lakhs to Rs 25 Lakhs
Eligibility

Students of Indian nationality who intend to join any approved Diploma / Degree / Post Graduate course in India / Abroad
Quantum of finance

Initial expenses like admission fee, entrance fee caution deposit, security deposit etc recurring expenses like tuition fee, exam fee, special fee, hostel fee, cost of books, uniform, etc
Margin

For Courses in India no margin is required and for foreign studies 10 % margin is applicable.
Period

Minimum loan period - 3 years (course time + repayment period)                      
Maximum loan period - 11 years (course time maximum of 6 years + repayment period maximum of 5 years)
Rates & Charges

Repayment

Monthly / periodical interest during the holiday period to be serviced and Balance at the end of the course to be repaid in equal monthly installments. And repayment should begin when the student secures employment or within 12 months after the completion of the course, whichever is earlier.
Co-obligant

Guardian
Security
      

Up to Rs1 Lakh - Personal guarantee of two persons with Basic Pay Rs 5000/- or annual declared income Rs 1.25 Lakh
Above Rs 1 Lakh - Collateral security is needed (if immovable property – 200% of the limit is required).

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