Minimum age of Applicant: 18 years.
Maximum age of Applicant at loan maturity:
For employees Date of retirement or 60 Years whichever is earlier.
For others: 65 years.
Borrowers/Co-borrowers should have adequate perpetual source of income to repay the loan. Business units should ensure that the home-take salary/ residual income of the Borrower/Co-Borrower after including all deductions including installments on account of this loan should be at least 40% of the Gross monthly salary/income.*
Since purchase of computer is covered under our educational loan scheme as well, finance under this product shall not be available to those students who have already availed educational loan from our bank subject to condition that computer was included in loan composition of education loan facility, so availed
*In case of students with Parent/Guardian as co-borrower, the income criteria shall apply to co-borrowers only.