Karur Vysya Bank Education loan

Loan Amount 

• For studies in India Maximum Rs.10.00 lakhs
• For studies abroad Maximum Rs.20.00 lakhs

Margin 

• Up to Rs. 4.00 lakhs - Nil
• Above Rs. 4 lakhs
• Studies in India - 5%
• Studies abroad - 15%
• Scholarship / assistantship to be included in margin. Margin may be brought on a year to year basis as and when
• disbursements are made on a pro-rata basis

Disbursement 

• The loan to be disbursed in stages as per the requirement /demand directly to the Institutions/
• Vendors of books/equipments/instruments to the extent possible.

Primary Security  DPN

• (In case the loan is used for purchase of equipments/instruments, the same is to be hypothecated to us)

Collateral Security 

• For loans upto Rs.4.00 lakhs: 01. Co-obligation of parents; 02. No security
• For loans above Rs.4.00 lakhs and upto Rs.7.50 lakhs: Co-obligation of parents together with collateral security in the
• form of suitable third party guarantee. The bank may, at its discretion, in exceptional case, waive third party guarantee
• if satisfied with the Net Worth / Means of parent/s who would be executing the documents as "Joint Borrower"
• Above Rs.7.50 lakhs: Co-obligation of parents together with tangible collateral security of suitable value, along with the
• assignment of future income of the student for payment of instalments.
• Students admitted under Management Quota are also eligible for Educational Loan. However other norms / guidelines
• with regard to eligibility criteria are to be complied without any deviation.

Repayment 

• In 5-7 years after repayment holiday (Course period and 2 years or 6 months after getting job whichever is earlier.

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