Apex Education

Educational loan to deserving/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities/Institutions.

Objective:

Financial support to deserving/meritorious students for pursuing education courses in India & abroad, so that No deserving students to denied an opportunity to pursue higher education for want of financial support.

Purpose:

For studies in College and other educational instiution.
For fees, Hostel Fees, Books, Equipment, Study tour, exam fees, air ticket.

Eligible Persons:

Loans can be granted only to Indian Nationals with 60% in the qualifying examination.
Who have secured admission to the eligible course in reputed institutes of Nation/State level through entrance test/selection process.
Secured admission to foreign university/institution.

Eligible Studies In India:

Professional courses like Engineering, Medical, Dental, Management etc.
Course conducted by IIM,IIT, IISc, NIFT, National law school OR Equivalent institutions/universities, Indian Business School, Hyderabad and other reputed National Institutes, etc.
Course like ICWA, CA, CFA etc.

At Abroad:

Educational loan to deserving/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities/Institutions.

Quantum:

For studies in India Maximum Rs. 7.50 lakhs.
For studies abroad Rs. 20.00 lakhs maximum.

Margin:

Up to Rs.4.00 lakhs - NIL.
Above Rs.4.00 lakhs - Studies in India 5%, Studies in abroad 15%.

Security:

Up to Rs.4.00 lakhs - No security for loans, to be given jointly with parent/guardian.

For above Rs.4.00 lakhs loans.
Loans should be jointly with parent/guardian.
Satisfactory Guarantee.
Assignment of future income of the student.
Loans to be jointly with parent/Guaradian and collateral security equal to 100% of loan amount or Coobligantion of III party having required Net worth not less than loan amount.
Collateral security in form of Land/Building/Govt. Securities/Gold/Deposits/salary certificate/Post dated cheques.
For Medical Courses-security of immovable property value equal to 150% of loan amount.

Interest:

Up to Rs. 4.00 lakhs 10.00% p.a. or As per the rates prescribed/notified by the Bank from time to time.
Above Rs. 4.00 lakhs 11.00% p.a. or As per the rates prescribed/notified by the Bank from time to time.

Processing Charges:

1.00 % of the loan amount.

Repayment:

Repayment period is 60 months from commencement of the repayment.
Repayment to begin after 1 year of completion of course OR 6 months of getting employment whichever is earlier.
EMI to be arrived at the outstanding amount when the repayment starts (Principal + Applicable Int rate at that time).

Disbursement:

As far as possible directly to institution by way of Demand Draft for Fees/Hostel Fees etc.

Documentation:

Application, Income Proof for repyament.
Pronote/Pronote covering letter.
Stamped Agreement.
Guarantors/Co-Obligant Income Proof.
Deed of Agreement cum Hypothecation/Mortgage of property as the case may be.

Loans to employed persons:

NOC from employer to be insisted.
Repayment based on the Income.
For loan upto Rs.25,000/- co obligation of third party.
For loan above Rs.25,000/- approved securities.
Suitable repayment schedule to be fixed depending on income level of the applicant without giving repayment holiday for interest/principal.