{"id":143,"date":"2020-07-11T00:34:02","date_gmt":"2020-07-11T00:34:02","guid":{"rendered":"http:\/\/www.admissions.nandhanam.edu.in\/admissions\/?page_id=143"},"modified":"2020-07-11T00:40:15","modified_gmt":"2020-07-11T00:40:15","slug":"bank-loan-eligibility","status":"publish","type":"page","link":"https:\/\/snma.edu.in\/admissions\/bank-loan-eligibility\/","title":{"rendered":"Bank Loan Eligibility"},"content":{"rendered":"\n<p>The vital education loan eligibility criteria that the candidates \nneed to fulfil to get approval for the loan are listed out here:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The candidate applying for the loan must be a resident of India.<\/li><li>He\/she must have confirmed admission in recognised educational institutes in India or abroad.<\/li><li>The age of the candidate must fall within the bracket of 18 to 35 years during loan application.<\/li><li>He\/she must be undergoing a graduate\/postgraduate degree or a PG diploma.<\/li><li>The applicant should have a secured admission in a college or university affiliated by UGC\/AICTE\/PCI\/Govt. etc.<\/li><li>Students pursuing full-time courses need to have a co-applicant who  can be either parent\/guardian or spouse\/parent-in-law (in case of  married candidates).<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">General Features of Govt Banks (SBI)<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Repayment period of upto 15 years after Course Period + 12 months of repayment holiday*<\/li><li>Processing Charges <ul><li>Loans upto Rs. 20 lacs : NIL<\/li><li>Loans above Rs. 20 lacs: Rs. 10,000 (plus taxes) <\/li><\/ul><\/li><li>Security <ul><li>Upto Rs. 7.5 Lacs:Only Parent\/ Guardian as co-borrower. No Collateral Security or third party guarantee<\/li><li>Above Rs. 7.5 Lacs:Parent\/ Guardian as co-borrower and tangible collateral security <\/li><\/ul><\/li><li>Margin <ul><li>Up to Rs 4 Lacs &#8211; Nil<\/li><li>Above Rs 4 Lacs &#8211; 5% for studies in India, 15% for studies in abroad <\/li><\/ul><\/li><li>Repayment will commence one year after completion of course.<\/li><li>Loan to be repaid in 15 years after the commencement of repayment<\/li><li>In case second loan is availed for higher  studies later, to repay the combined loan amount in 15 years after  completion of second course<\/li><li>EMI Generation <ul><li>The accrued interest during the moratorium period and course  period is added to the principle and repayment is fixed in Equated  Monthly Installments (EMI).<\/li><li>If full interest is serviced before the commencement of repayment; EMI is fixed based on principle amount only. <\/li><li><\/li><\/ul><\/li><\/ul>\n\n\n\n<p><strong>Apply through Central Government Vidhyalakshmi Portal for confirmed dispersal of education loans under supervision of Government Officials.  Delay \/ Denial can be escalated to all Higher Government Officials starting from District Collector for loan dispersal.<\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td><br> <strong>Education Loan Eligibility<\/strong> <\/td><\/tr><tr><td>\n<strong>Particulars<\/strong>\n<\/td><td>\n<strong>Eligibility<\/strong>\n<\/td><\/tr><tr><td>\nNationality\n<\/td><td>\nIndian\n<\/td><\/tr><tr><td>\nAge\n<\/td><td>\nMinimum- 18 years\nMaximum- 35 years\n<\/td><\/tr><tr><td>\nAcademic record\n<\/td><td>\nProven- good\n<\/td><\/tr><tr><td>\nQualification\n<\/td><td>\nPursuing graduate\/postgraduate degree or a PG diploma.\n<\/td><\/tr><tr><td>\nIncome source\n<\/td><td>\nParents\/Guardians \n<\/td><\/tr><tr><td>\nIncome\n<\/td><td>\nStable\n<\/td><\/tr><tr><td>\nUniversity Applied to\n<\/td><td>\nRecognised \u2013 In India\/Abroad\n<\/td><\/tr><tr><td>\nAdmission Status\n<\/td><td>\nConfirmed\n<\/td><\/tr><tr><td>\nSecurity \n<\/td><td>\nTangible collateral or guarantor- depending on the loan amount and income source.\n<\/td><\/tr><\/tbody><\/table>\n","protected":false},"excerpt":{"rendered":"<p>The vital education loan eligibility criteria that the candidates need to fulfil to get approval for the loan are listed out here: The candidate applying for the loan must be a resident of India. He\/she must have confirmed admission in recognised educational institutes in India or abroad. The age of the candidate must fall within &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/snma.edu.in\/admissions\/bank-loan-eligibility\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank Loan Eligibility&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-143","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/pages\/143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/comments?post=143"}],"version-history":[{"count":0,"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/pages\/143\/revisions"}],"wp:attachment":[{"href":"https:\/\/snma.edu.in\/admissions\/wp-json\/wp\/v2\/media?parent=143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}