State Bank of Travancore
The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad.
Courses Eligible for Study in India:
Graduation Courses : B.A., B.Com, B.Sc., etc., Post Graduation Courses : Masters and Ph.D., Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University.
Courses like ICWA, CA, CFA, etc.,Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
Courses Eligible for Study Abroad:
Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS, etc.,Courses conducted by CIMA - London, CPA in USA etc.
Loan Amount:
For studies in India, maximum Rs. 10 lacs
For Studies abroad, maximum Rs. 20 lacs
Margin:
For loans up to Rs.4.0 lacs : No Margin
For loans above Rs.4.0 lacs: Studies in India: 5%, Studies Abroad: 15%
Interest Rate:
For loans upto Rs. 4 lakh - 13.25%
For loans above Rs. 4 lakh - 14.00%
Repayment:
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier. The loan is to be repaid in 5-7 years after commencement of repayment.
Security:
Upto Rs. 4.00 Lacs : Nil
Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee.
Above Rs. 7.50 lacs : Co-obligation of parent/guardian/spouse/parent-in-law a long together with tangible collateral security of suitable value along with assignment of future income of the student for payment of instalments and tangible security of suitable value