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DBGB Sarvottam- Education Loan Scheme For Students Pursuing Higher Education In India.

DBGB Sarvottam- Education Loan Scheme For Students Pursuing Higher Education In India.
Objective	To provide financial support to meritorious students for pursuing higher education in India. Students Who Secure Admission In Institutes As Under Approved courses leading to Graduate/ Post Graduate degree and PG Diplomas conducted by recognized colleges/ universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
Purpose	Fee payable to college/ school/ hostel/Examination/ Library/ Laboratory fee etc. Insurance premium for student borrower, if applicable. Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. Purchase of books/ equipment’s/ instruments/ uniforms/computer at reasonable cost, if required for completion of the course. Any other expense required to complete the course-like study tours, project work, thesis, etc.
Eligibility	Should be an Indian national. Should have secured admission to a higher education course in recognized institutions in India through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent). Cases of Management Quota may be considered on merit basis. Courses Eligible (For Study in India) Courses like ICWA, CA, CFA etc. Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc. Regular Degree/Diploma courses like Aeronautical, pilot training, shipping Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/ Indian Nursing Council or any other regulatory body as the case may be. Advance Diploma in Banking Technology offered by MBGB IIT Lucknow. Approved courses offered in India by reputed foreign universities. Research Programme recognized by designated academic authority/ regulatory body.
Quantum Of Finance	Need based Finance subject to repaying capacity of the parents/students. Reimbursement of fees paid within six months may be permitted on individual merits of the case.
Margin	Up to Rs. 4 lac - NIL Above Rs. 4 lac - 5% Scholarship/ assistantship may be considered in margin. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Security	UptoRs. 7.50 lakh: Co-obligation of parents/guardian as joint co-borrowers.  No tangible Security and /or 3rd party guarantee is required. Above Rs.7.50 lakh: Co-obligation of parents/guardian as joint co-borrowers. Tangible collateral security of suitable value acceptable to bank.
Repayment Period	Maximum upto 15 years
Repayment Holiday/ Moratorium	Course period + 1 year
Prepayment Charges	NIL
Rate of Interest	Up to Rs.7.50 Lakh –MCLR+1.85=10.15%, Above Rs.7.50 Lakh –MCLR+2.45=10.75% (MCLR+0.95=9.25% If collaterally secured)
Processing Charges/ Upfront Fee	No processing/ upfront charges is to be collected on education loans for studies in India.
Documentation Charges	Documentation Charges: As prescribed by the Bank from time to time shall be recovered.