Education Loan for Higher Studies in India / Abroad:Studies in India: Individuals who wish to apply for courses that result in the acquisition of a graduate degree / post-graduate diplomas and post-graduate degrees from universities / colleges affiliated with ICMR / government institutes / AIBMS / UGC / AICTE etc. The quantum of finance for these courses ranges from Rs.20,000 to Rs.1.5 lacs depending on the duration of the course.

Studies abroad: Individuals who wish to undertake technical / professional courses can avail this loan. The courses covered under this scheme include MCA, MS, MBA, etc. (post-graduation); courses offered by CPA - USA, CIMA - London, etc.; diploma / degree courses such as pilot training, shipping, aeronautical training, etc. if they are affiliated by competent regulatory authorities abroad to gain employment abroad or in India. The maximum quantum of finance for these courses is Rs.10 lacs for courses in India and Rs.20 lacs for courses abroad. The interest rate for both schemes is the base rate (9.75%) + 3% / (9.75%) + 3.25% / (9.75%) + 2.50% depending upon the quantum of finance if borrowed by the general public. The interest rate if borrowed by staff as co-borrower is the base rate (9.75%) + 2% / (9.75%) + 2.25% / (9.75%) + 1.50% which again depends on the quantum of finance.