Kerala Gramin Bank Education Loan

Under KG Sukanya Scheme (for female students)  

Kerala Gramin Bank Education Loan for Female Students 

The Kerala Gramin Bank offers education loans specifically for female students. The Kerala Gramin Bank Sukanya scheme is for girl students seeking higher education. It provides education loans with varied interest rates depending on the amount. Loans above Rs.7.5 lakhs are provided at an interest rate of 10%, while loans up to 7.5 lakhs are offered at 11.60%. For loans less than 7.5 lakhs, the interest rate is 12.60%. 

Kerala Gramin Bank Education Loan for Study Abroad 

Kerala Gramin Bank offers education loans to students pursuing higher education abroad. Postgraduate degrees and postgraduate diplomas from well-reputed universities abroad are eligible for education loans from Kerala Gramin Bank. Loan amounts up to Rs.20 lakhs can be availed under various education loan schemes.

Eligibility Criteria for Kerala Gramin Bank Education Loan

Before applying for a loan, it is helpful to understand the eligibility criteria required by the bank, which is given below: 

1. The student should be an Indian National. 

1. Minor students applying for loans should be represented by either the parent or guardian. 

1. The student should have secured an admission for higher education in recognised institutions either in India or abroad through a merit-based selection process. 

1. The loan will be issued jointly in the names of the student and parent/guardian.  

How to Apply for a Kerala Gramin Bank Education Loan 

To apply for a Kerala Gramin Bank education loan, you can visit the nearest bank branch. You can fill out the application form and submit it along with the required documents. The processing time for an education loan application for Kerala Gramin Bank is up to 30 days. You can also apply for education loans online by visiting the official bank website. 

Collateral Requirements for Kerala Gramin Bank Education Loan

Kerala Gramin Bank has varying collateral requirements for education loans of different amounts as given below: 

1. For loans up to Rs.4 lakh, there is no necessity to provide security. Parents/guardians are required to be joint borrowers.  

1. For loans between Rs.4 lakh to Rs.7.5 lakh, apart from the parents/guardian being a joint borrower, a third-party guarantee is also required. The third party should have a net worth to cover the loan amount or equitable mortgage (EM), land or property with sufficient value.  

1. For loans above Rs.7.5 lakh, security required is an equitable mortgage of landed property with sufficient value which covers at least 150% of the loan amount taken. 

Kerala Gramin Bank Interest Subsidy for Education Loans 

Kerala Gramin Bank offers subsidy benefits for education loans. As Kerala Gramin Bank is jointly owned by the state and central governments, it provides interest subsidies for eligible students.

Repayment Tenure for Kerala Gramin Bank Education Loan

The repayment tenure for education loans of various amounts offered by Kerala Gramin Bank is as given below: 

1. For loans above Rs.7.5 lakh, the maximum repayment period is 15 years 

1. For loans above Rs.5 lakh, the maximum repayment period is 10 years 

1. The moratorium period (a period during which the borrower is not obliged to repay the loan) is taken as the course period + one year or six months after getting a job, whichever is earlier.  

Loan Limits and Margin Requirements – Kerala Gramin Bank

The limits and margins for various education loans offered by the bank are as given below: 

1. The bank offers loans up to Rs.10 lakh for courses in India and upto Rs.20 lakh for courses abroad, each subject to the course-wise cap. 

1. The margin amount is nil up to Rs.4 lakh.  

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

Benefits of Kerala Gramin Bank Education Loan 

Education loans provided by Kerala Gramin Bank are great opportunities for students who wish to pursue higher education from quality institutions in India and abroad. The Kerala Gramin Bank provides regular education loans and special education loans for female students at a lower interest. Applicants are eligible for tax benefits and interest rate subsidies under the education loans provided by the Kerala Gramin Bank. 

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