Education Loan in India: Karnataka Bank
Karnataka Bank Ltd offers the various kinds of loans of which Vidyanidhi Education Loan Scheme is the educational loan for the students. Karnataka Bank
Education Loans are offered to deserving students who want to pursue higher studies in India or Abroad.
Eligible Criteria of KBL VIDYANIDHI (Education Loan Scheme)
Students Education Loan Eligibility
- Any major or minor student represented by their parents or guardians should have nationality Indian
- Student must take secured admission to technical, professional courses through entrance exam and merit based admission process
Courses Eligible for Getting Education Loan:
Studies in India:
- Graduate Courses - B.A, B.Sc, B.Com, B.C.A, B.B.M
- Diploma in Engineering
- postgraduate Courses - Masters and Ph.D
- Professional Courses - Engineering, Medical, Agriculture, Nursing, Veterinary, Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA
- Courses conducted by IIM, IIT, XLRI, NIFT; Courses offered in India by reputed foreign universities; Evening Courses of approved Institutes; Other Courses leading to Diploma / Degree conducted by colleges /
universities approved by UGC / GOVT. / AICTE / AIBMS / ICMR; Courses offered by National Institutes and other reputed private Institutions
Graduation - Only for job oriented professional / technical courses offered by the reputed Universities; Post Graduation - MCA, MBA, MS; Courses conducted by CIMA-London, CPA in USA etc.
Details of Education Loan:
- For studies in India - a maximum of Rs.10 lakh
- For studies abroad - a maximum of Rs.20 lakh
- Loan upto Rs.4 lakh: No margin required
- Loan above Rs.4 lakh: 5% for studies in India and 15% for studies abroad
(Assistantship or the scholarship is also part of the margin)
- Up to Rs.4 lakh: No security.
- Above Rs.4 lakh to Rs.7.50 lakh: Collateral in the form of a suitable third party guarantee.
- Above Rs.7.50 lakh: Collateral security of suitable value or suitable third party guarantee along with the assignment of future income of the student for payment of installments.
Details & Contact
Mahaveera Circle Kankanady,
Phone - (0824) 2228222
Fax - (0824) 2228284
Website - http://www.karnatakabank.com
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.