Assam Gramin Bank Education Loan

• Computer certificate courses of reputed institutes accredited to the Department of Electronics or institutes affiliated to a university.

• Courses like ICWA, CA, CFA, etc.

• Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.

• Other courses leading to diploma/degree, etc., conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ICMR, etc.

• Courses offered by national institutes and other reputed private institutions.

• Courses offered by national institutes and other reputed private institutions.

Eligible Courses in Abroad for Assam Gramin Bank Education Loan

AGB provides an education loan up to Rs.100 lakh for selective courses abroad. The eligible courses to avail a loan are as follows:

• Graduation courses – Job-oriented professional and technical courses offered by reputable universities.

• Post graduation courses - MCA, NBA, MS, etc.

• Courses conducted by Chartered Institute of Management Accountants (CIMA) in London, and Certified Public Accountant (CPA) from USA.

Assam Gramin Bank Education Loan Interest Rates

The interest rates offered by AGB for various loan amounts are as follows:

• The interest rate starting from 8.00% p.a.

• For girl students, 1% concession from the card rate is provided A 1% concession is allowed during the moratorium period if the interest is paid monthly and regularly.

Asomi Gyandeep Loan Scheme

Assam Gramin Bank offers education loans under the Asomi Gyandeep loan scheme. The details, process, and interest rates are as follows:

Education loans under the Asomi Gyandeep Loan Scheme are repaid in equated monthly instalments (EMIs) after the moratorium, which is the course period plus one year, or six months after getting a job. The moratorium can be extended up to three times, by a maximum of six months each time and 18 months in total, and there is no prepayment penalty.

Eligibility Criteria for Assam Gramin Bank Education Loan

To avail a loan under Asomi Gyandeep Loan Scheme, the student must fulfill the eligibility criteria, which are as follows:

• Students applying for AGB Education Loan under the Asomi Gyandeep Loan Scheme must be Indian students residing in Assam.

• Students must secure admission to a recognised higher education course in India or abroad after 10+2.

• A parent, guardian or spouse must be a joint borrower.

Loan Amount Limits for Assam Gramin Bank Education Loan

The maximum loan amount granted by AGB under Asomi Gyandeep Loan Scheme is as follows:

• For students opting for a course in India, the loan amount may be granted up to Rs.50 lakh

• For students opting for a course abroad, the loan amount may be granted up to Rs.100 lakh

Margin Requirements for Assam Gramin Bank Education Loan

The required margin to secure an education loan under Asomi Gyandeep Loan Scheme is as follows:

• For loans up to Rs.4 lakh, there is no margin required.

• For loans above Rs.4 lakh, the margin is 5% for courses in India and 15% for courses abroad.

Security Requirements for Assam Gramin Bank Education Loan

The required security for various loan amounts is as follows:

Summary

Assam Gramin Bank, earlier known as Assam Gramin Vikash Bank, offers education loans for higher studies in India and abroad under its Asomi Gyandeep Scheme. The scheme covers eligible Indian students residing in Assam, with margin and security requirements that depend on the loan amount and the study destination. Check the limits, rates and security terms above before you apply.

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