• Maximum 10.00 Lacs for studies in India.
  • Maximum20.00 Lacs for studies abroad.
  • Approved courses leading to graduate/ post graduate degree and P G diplomas  conducted by recognized colleges/ universities recognized by  UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
  • Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI. NIFT,NID etc.
  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  • Approved courses offered in India by reputed foreign universities.
  • Courses offered by National Institutes and other reputed private institutions.

* The above list is indicative in nature. Bank may approve other job oriented courses leading to technical/ professional degrees, post graduate degrees/diplomas offered by recognized institutions under this scheme.

  • Graduation: For job oriented professional/ technical courses offered by reputed


  • Post graduation: MCA, MBA, MS, etc.
  • Courses conducted by CIMA- London, CPA in USA etc.
  • Degree/diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.
  • Should be an Indian National
  • Should have secured admission to a higher education course in recognized institutions  in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). 
  • For pursuing courses in IIT/IIM/ISB*:

    For loan up to Rs 10.00 lakhs- Co-obligation of parents/ guardian,  3rd party guarantee of 2 persons and assignment of future income of the student. No collateral security is required. However, for education loans upto Rs 7.5 lakhs third party guarantee shall be waived if the loan is covered under Credit Guarantee Scheme.
    *ISB means Indian School of Business, Hyderabad.

  • For others:

    Up to  4.00 lacs Parents to be joint borrower(s). No Security
    Above  4 lacs and up to  7.5 lacs.

    Besides the parent(s) executing the documents as     joint borrower(s), collateral security in the form of suitable third party guarantee will be taken. The Bank may, at its discretion, in exceptional cases, waive off third party guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as joint borrower(s).Such powers shall lie with President, A&AP Department.

    However, no third party guarantee for education loans granted under Credit Guarantee coverage.
    Above  7.5 lacs Parent(s) to be joint borrower(s)  Tangible collateral security of suitable value acceptable to bank.
  • For loans upto  4 lacs - nil
  • For loans above  4 lacs Studies in India - 5%
  • Studies abroad - 15%
  • Repayment of the loan will be in equated monthly installments upto period of15 years.
  • Repayment shall start after Repayment holiday/Moratorium period , which shall be as under;

  Repayment holiday/Moratorium

  Course period + 1 year

  • The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Installments (EMI) fixed.
  • 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 period of 2 years. If the student is not able to complete the course for reasons beyond his control, Sanctioning authority (which has sanctioned the case) may at his discretion consider such extensions as may be deemed necessary to complete the course. In case the student discontinues the course midway, appropriate repayment schedule will be worked out by the Business Unit in consultation with the student/parent
  • While EMI based repayment is the generally accepted practice, many times the salary levels at the start of the career may not facilitate comfortable payment of EMI in certain cases (e.g. professionals like Doctors). Telescoping of repayment with stepped up installments with passage of time may be considered in such cases. Such ballooned repayment shall be normally allowed only if allowed at the time of initial sanction, clearly documented in the sanction letter and applicable from the first repayment installment.
  • Penal interest @ 2% be charged for non-repayment of loan installments, subject to provisions of priority sector advances, i.e.

Up to Rs 25,000/=        Nil
Above Rs 25,000/=       As applicable to retail advances, (Presently 2% on default/ irregular portion).