1

Purpose

1. For payment of all fees to school/institution and for purchase of books, uniforms study tour, examination fees, sports fees, computer fees, hostel fees etc.

2 For payment of Caution Deposits/ Building Fund / Refundable deposits provided they are supported by official receipts of the institution/ School

3.Loans for purchase of   bicycles/ mopeds provided the student commuted between home and school everyday.

2

Eligibility

Students studying in 8^th to 10^th standard of school education conducted by State Boards, CBSE, ICSE and unaided state level schools (provided the school is recognized by the concerned state government / education board)

Technical courses - approved by AICTE (i.e., ITI etc) and any recognised courses by the State Government/ Central Government.

3

Target Group

Parents of Indian Nationals.

4

Facility and repayment

Short-term loan:  to be repaid within 10 months or before due date for repayment of fee for the next academic year.

However when payment is made for deposit for building or such additional expenses to be met by the parent, loan for such purposes can be repaid in 20 months.

5

Loan Amount

Rs.10,000/- per year and maximum is Rs.30,000/-The loan amount is restricted to a MAXIMUM of 6 months gross salary of the parent/ guardian. The repaying capacity should be ascertained

6

Margin

10% margin as per pro rata disbursements made on pro rata basis. Assistance/ Scholarship money can be treated as margin

7

Interest Rate

Base Rate+3.00%

8

Processing Fee

No processing fee

9

Security

No Security

10

Other Terms & Conditions

              i.      No minimum Marks in the previous qualifying examination is fixed.

            ii.      The student should pass the examination in single attempt.

          iii.      Loans can be considered for more than one member in a family subject to each student satisfying the eligibility norms and repaying capacity of the parent but not more than 2 children of a parent.

          iv.      Disbursement will be made directly to school / institution by way of Demand Draft.

            v.      Cash disbursements for purchase of books/ stationery items are allowed subject to production of receipts.

          vi.      Certificate from School authorities on regular attendance and Progress Report should be submitted.

        vii.      The take home pay should not be less than 35% of gross pay after 

   considering proposed loan installments.