Education Loan

The Education Loan will be provided to those students who have:

• Indian Citizenship
• Secured at least 50% marks during HSC & Graduation
• Who have obtained admission to career-oriented courses e.g. Medicine, Engineering,
• Management etc., either at the graduate or post-graduate level
• Secured admission in India or Abroad through entrance test / merit based selection process post completion of HSC (10 + 2)

Documents for Education Loan for all other Individuals

• KYC documents
• Pass Book / Bank Statement of last 6 months
• Optional – Guarantor Form
• Copy of admission letter of the Institute along with fees schedule
• Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses

Documents required for first disbursement documents required for the first disbursement

• Demand letter from college or university.
• Loan agreement signed by applicant, co-applicants
• Sanction letter signed by applicant, co-applicants
• Disbursement request form Receipts of margin money paid to the college/university along with bank statement reflecting the transaction signed by applicant, co-applicants
• Documents for collateral security (if applicable
• Form A2 signed by applicant or co-applicants in case of overseas institute.

Documents required for subsequent disbursement

• Demand letter from college or university
• Disbursement request form signed by applicant, co-applicants
• Receipts of margin money paid to the college/university along with bank statements reflecting the transaction
• Exam progress report, mark sheet, bonafide certificate (Any one)
• Form A2 signed by applicant or co-applicants in case of the overseas institute.
• For Terms and Conditions, please contact the D.M.A. TSL.

Interest Rate

Fixed interest rate of 6.25% per annul applicable on the loan amount Interest rates are fixed and non-negotiable.

File Charges 3920/- (Security Amount) will be refunded Rs 3000/- (three thousand) with the loan amount & DOCUMENTARY FEES:- 920(NON- REFUNDABLE)