Federal Bank provides a specific loan that is aimed at providing financing for needy and deserving interested in getting enrolled in courses that fall within the educational and training category except vocational training and skill development based course. This loan features low interest rates and fast approval times.
This loan is provided exclusively to students for pursuing courses that are approved by the bank. The loan will cover the following expenses throughout the course –
In case funding is to be required for lodging purposes or other substantial grounds, the same can be also included, based on the discretion of the bank.
A specific loan meant for students, the eligibility criteria to be met in order for the institution to be able to sanction the loan include the following -
The financing modes allowed under this educational loan is a term loan.
Based on the credit-worthiness of the applicant, Federal Bank can provide loans up to a maximum of INR 75 lakhs (courses in India) and INR 100 lakhs (courses outside India).
|Overnight MCLR||8.75% per annum|
|One Month MCLR||8.85% per annum|
|Three months MCLR||9.0% per annum|
|Six months MCLR||9.1% per annum|
|One year MCLR||9.2% per annum|
The standard list of required documents for applying for this loan are mentioned as follows –
Some of the key features of Federal Bank Career Solutions are:
Through Federal Bank’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Federal Bank requesting an executive assistance for application process. A person interested in availing this loan can also visit Federal Bank’s nearest branch.
One can also apply for Federal Bank Career Solutions through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.
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