Education Loans - Higher Education

  • To provide financial support from the banking system to meritorious students for pursuing higher education in India and abroad.
  • Student Eligibility:
    a) The student should be Indian national
    b) Secured admission in higher education courses in recognised institutions in India or Abroad through entrance test/ merit based selection process after 10+2 equivalent study.
    c) Merit: who qualified in a merit quota even though joining in management quota.

  • Course Eligibility:
    i) Approved courses leading to graduate/ post graduate degree & PG Diplomas conducted by recognised colleges/universities recognised by UGC/Govt./AICTE/AIBMS/ICMR etc.
    ii) Courses like ICWA, CA, CFA etc.
    iii) Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc
    iv) Regular Degree / Diploma courses / nursing courses, if pursued in India.
    v) Approved courses offered in India by reputed foreign Universities.
  • There is no specific restriction with regard to the age of the student to be eligible for the student.
Studies Abroad
  • a) Graduation : For job oriented professional/technical courses offered by reputed universities
  • b) Post Graduation :
    i. MCA, MBA, MS, etc
    ii. Courses conducted by CIMA-London, CPA in USA etc.
    iii. Degree / Diploma courses like aeronautical, pilot training, shipping etc., if recognised by competent bodies in India/abroad for the purpose of employment in India or abroad.
Expenses Considered
  • i. Current year fees may be reimbursed
    ii. Fee payable to college/school/hostel Exam /library/lab fee
    iii. Travel expenses, insurance premium
    iv. Caution deposit/ building fund/refundable deposit supported by bills (max 10% of tuition fee)
    v.Books, equipment/instruments/uniform, study tours, project work, thesis, etc (max 20% of tuition fee)
    vi.While computing loan, scholarships, fee waivers etc are to be looked
Loan Amount
  • In India : Max. upto 10 Lakhs
  • In Abroad : Max. upto 20 Lakhs
Rate of Interest
Please refer to Loan Interest Rates Page
  • upto 4.00 Lakhs : NIL
  • Above 4.00 Lakhs studies in India : 5%
  • Studies abroad : 15% margin on year to year basis
  • Upto 4.00 lakhs : NIL (Parents to be joint borrowers)
  • Above 4.00 lakhs and upto 7.50 lakhs : Parents to be joint borrowres + Guarantor
  • Above 7.50 lakhs : Parents to be joint borrowers and tangible collateral security
Security Coverage
  • 150% for loans above
  • Holiday : Course period + 1 year or 6 months after getting job whichever is earlier
  • 7.50lakhs
Repayment Period
  • For Loans upto 7.50 lakhs : Max 10 years
  • For Loans above 7.50 lakhs : Max 15 years
  • Holiday : Course period + 1 year or 6 months after getting job whichever is earlier
  • Holiday period interest is to be added to Principal and EMI is to be fixed
How to apply
  • Please contact nearest Saptagiri Grameena Bank Branch for more details
Designed by Yaswanth Gupta Bondada & Raghav Vellore