Eligibility
The applicant must have obtained first class marks and have received admission. He/ she should be at least 21 years of age.


Important Documents
Admission approval with statement of marks of the previous examinations.


Processing period
Within a period of 45 days.

Maximum amount
       Rs. 4,00,000 (for studies in India)

       Rs. 4,00,000 (for studies abroad)


Rate of Interest
If the studies are to be pursued in India, for an amount upto Rs. 2,00,000: 12% p.a. If the amount exceeds Rs, 2,00,000: 13.5%. Third party guarantee needed. For loans to be taken for studies abroad, interest rates are same as those mentioned above.


Tenure
5 years.


Repayment
After the course is completed.

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Head Office
5, Yashwant Nivas Road, Indore - 452 003
Madhya Pradesh
Gen: 0731-434580, Fax: 0731-537217
E-Mail: indorebk@bom.4.vsnl.net.in
Website: www.statebankofindore.com