Educational Loan

Educational Loan:



We are pleased to inform the students that we facilitate educational loans for the needy students. The relevant information is as under:
A. Common Conditions for availing educational loan:

1	Eligibility	Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process.
2	Maximum loan amount	Rs. 10 lacs for studies in India.
3	Margin	Upto Rs. 4 lacs: NIL, Above Rs. 4 lacs: In India - 5%, Margin (scholarship may be included in margin.)
4.	Disbursement	Payment directly to college / hostel / mess / airlines etc. In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.
5.	Repayment	For Full Time Courses : Repayment to commence 12 months after completion of studies or 6 months after securing jobs whichever is earlier. Maximum period 5 to 7 years. Repayment on EMI basis.
6.	Security	Up to Rs. 4 lakhs No security Above Rs. 4 lakhs and up to Rs.7.50 lakhs Collaterals in the form of a satisfactory third party Guarantee Above Rs. 7.50 lakhs Collateral security of suitable value or Co-obligation of parents/ guardians/parent-in-law/spouse together with tangible collateral security of suitable value along with the assignment of future income of the student for payment of installments. Comprehensive Life Insurance policy for student.

B. Indicative Rate of Interest for Different Banks (subject to change from time to time)

S.No	Name of Bank	Interest Rate	Contact Numbers
1	Dena Bank	Flat rate of-13.00%	Ms. Sonal - 26183752
2	State Bank of India	13.50 % upto 4 lakhs 13.25% between 4 lakhs -7 lakhs 12% above 7 lakhs	Ms. Aparna Sawant- 9820419044
3	Central Bank of India	12.00 % for SC-ST students and girl students. 12.50 % for boys	Mr J.V. Munj- 022-26182603
4	Bank of Baroda	12.50% upto 4 lakhs 14.50% above 4 lakhs Girl Child will have a concession of 1% on above rates	Bank of Baroda Branch nearest your residence
5	Punjab National Bank	13.5% upto 4 lakhs 14.5% from 4 lakhs-7.5 lakhs 14% above 7.5 lakhs	Mr Ratan Thakur- 9820164892
7	IDBI Bank	13.25% upto 4 lakhs 14.25% from 4 lakhs-7.5 lakhs 14% above 7.5 lakhs	Ms. Kanchan Kalra- 26701320

C. Contact Details :

Sr.No.	Name of the Person	Contact No.	Email Id	Address
1	Ms. Kavita Naik	42199971	Kavita.Naik@svkm.ac.in	Shri Vile Parle Kelavani Mandal Bhaidas Sabhagrih Bldg., 2nd Floor, Bhaktivedanta Swami Marg, Vile Parle (West), Mumbai 400 056
2	Mr. Anil K Bapat	421999372	Anil.Bapat@svkm.ac.in	Shri Vile Parle Kelavani Mandal Bhaidas Sabhagrih Bldg., 2nd Floor, Bhaktivedanta Swami Marg, Vile Parle (West), Mumbai 400 056