Applicant:

• Students seeking financial assistance for higher education in India or abroad.
• Loans can be applied for by the student along with a parent or guardian as co-applicant.

Purpose:

• To cover expenses related to tuition fees, books, equipment, travel, and other educational costs.

Loan Amount:

• Based on the requirement and repayment capacity, subject to bank’s policies.

Repayment:

• Flexible repayment terms post-completion of the course.
• Repayment period can extend up to 10 years depending on the loan amount and other conditions.

Security:

• Unsecured Loan: No collateral required.
• Secured Loan: 100% security through tangible collateral or bank-approved guarantees.

Processing Fee:

• 1.5% of the loan amount.

Share Holding:

• Nominal membership requirement.

Documents:

• Duly filled Loan Application Form.
• Proof of admission to the educational institution.
• Detailed fee structure from the institution.
• Mark sheets of previous qualifying examinations.
• Identity proof, residence proof, and photographs of the applicant and co-applicant.
• For secured loans, documents related to collateral security.

Insurance:

• Insurance coverage for the student borrower, if applicable.

Key Features:

• Competitive Interest Rates: Our interest rates are designed to be affordable to help you manage your educational expenses.
• Flexible Repayment Terms: We offer terms that align with your future earning potential, ensuring ease of repayment.
• Quick Processing: We ensure swift processing of loan applications to meet your urgent educational needs.
• Expert Support: Our experienced staff will guide you through the loan process and provide expert advice.

Invest in your future with Bhagyalakshmi Mahila Sahakari Bank’s Educational Loan. Contact us today to learn more and apply for your loan.