Jammu & Kashmir Bank Education loan

• Education Loan
• 10.00 Lacs for studies in India
• 20.00 Lacs for studies abroad.

Courses Financed

• (India) Graduate / Courses in :BA, B.Com., B.Sc., etc. Medicine, Surgery, Engineering, Hotel Management, Design, Architecture, Bio-chemistry, Agriculture, Veterinary etc.
• P.G Courses in : Business Management, Chartered or Cost Accounting , Company Secretaryship, Masters & PhD.
• Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
• Computer Certificate Courses: of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
• Courses like ICWA, CA, CFA etc.
• Courses Conducted by IIM, IIT, IISc, XLRI. NIFT etc.
• Regular  Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil
• Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be
• recognized by the competent local aviation/shipping authority.
• Courses offered in India by reputed foreign universities.
• 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.
• Courses under Distance Education/ learning leading to professional/ technical certificates/ degree/ diploma courses etc offered/ conducted by reputed colleges/ universities/ institutions recognized/ approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
• Teacher Training Courses/ Nursing Courses/ B.Ed. conducted by institutions that are approved by Central Government/ State Government provided the said courses lead to degree or diploma and not to certification course.

Eligibility

• Should be Indian National
• Should have secured admission to professional/technical courses through entrance test/selection process.
• Should have secured admission to foreign universities/institutions
• Should have passed the qualifying examination for admission to the courses.
• Employed person intending to improve their educational qualification and/or receive training in modern technology in
• India or abroad can also be assisted under this scheme provided training offers prospects of better placement.

Security

• Personal guarantee of borrower/'s
• Collateral security equal to amount of loan. 

 Margin 

• For loans upto  4 lacs - nil
• For loans above  4 lacs Studies in India - 5% Studies abroad - 15%
• Payment of interest during the moratorium period Optional:Customers have the liberty to decide whether they want to
• pay interest during the repayment holiday or want to capitalize the same.However, an incentive in the form of 1%
• concession in rate of interest shall be provided to the loanees if the interest is serviced during the study period.

 Incentives 

• To provide students an opportunity to pursue higher education from reputed institutes like IITs, IIMs and ISB, the
• requirement of collateral security has been waived off for loans upto 10.00 Lacs and a concession of 0.50% in the rate of interest shall be allowed for students pursuing their degrees from these institutes.

  Repayment

• Repayment Holiday/ Moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier
• The loan to be repaid in 5 to 7 years after commencement of repayment. If the student is not able to complete the
• course within the scheduled time, extension of time for completion of course may be permitted for a maximum of two years. 

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