Maha Scholar Education Loan Scheme
To provide financial assistance/ support to meritorious student for pursuing higher studies /education in courses conducted by the Premier Educational Institutions in India as a differentiated products as an offerings for the premier institutions and to tap the available opportunities under the segment and focus on tie up with premier institutions to have continuous flow of business in the retail portfolio.
Quantum of Loan
Maximum Loan Amount
Tangible collateral of full value and Parent/Spouse/ Guardian as co-borrower for the below loan amount
Repayment holiday / Moratorium - Course period + 1 year (Uniform 1 year moratorium for repayment after completion of studies in all cases)
Repayment of the loan will be maximum 180 equated monthly instalments (EMIs). (i.e. 15 years maximum excluding moratorium period).
No security is required and only parent/spouse/guardian as co-borrower for the loan up to below limit
Tangible collateral of full value and Parent/Spouse/ Guardian as co-borrower for the loan exceeding above amount.