News:

GinGly.com - Used by 85,000 Members - SMS Backed up 7,35,000 - Contacts Stored  28,850 !!

Main Menu

Educational Loan for Students in Federal Bank

Started by Kalyan, Jul 04, 2008, 05:02 PM

Previous topic - Next topic

Kalyan

Federal Bank Limited

Federal Vidya Loan Scheme

Purpose :

The purpose of the loan is to make available financial assistance to the needy and deserving students of bright academic record so as to enable them to continue higher studies in India or Abroad either in diploma/graduation or post-graduation level in Arts, Science, Commerce, Management, Medicine and Engineering.

Eligibility :

Under this scheme the loan can be sanctioned to any student of Indian nationality who intends to join any of the approved courses in an Educational Institution recognized by the government or any University in India or Abroad.

Courses Approved :

A - Category

Academic courses such as Diploma, Graduate/Post-Graduate courses in Arts,
Science and Commerce etc.,

B - Category

Professional courses such as Diploma, Graduate/Post-Graduate courses in
Engineering, Medicine, Dental Science, Agricultural Science, Veterinary Science,
Computer Science, Nursing, Pharmacy, Business administration, Law etc.,

Type of Loan :


The loan account shall be operated as a term loan. To facilitate flexibility in operation, future debits on account of recurring expenses in each semester/year can be made to this account.

Margin :

The margin is NIL for courses in India . For foreign studies a minimum margin of 10% is to be insisted on.

Amount of Loan Minimum Maximum :
(Rs in Lakhs)

In India 0.50 to 5.00 lacs

Abroad 0.50 to 10.00 lacs

Rate of Interest :

Upto Rs.5 lakhs...................13.5 % Above Rs.5 lakhs.................14.5 %


Period of Loan :

The period of the loan consists of the period required for the completion of the course and that meant for repayment of the loan. The repayment should begin within 12 months on the completion of the course or after the student secures employment whichever is earlier.

Maximum period of the loan...................11 Years

Minimum period....................................3 Years.

Website:www.federalbank.co.in

Quick Reply

Warning: this topic has not been posted in for at least 120 days.
Unless you're sure you want to reply, please consider starting a new topic.

Note: this post will not display until it has been approved by a moderator.

Name:
Email:
Verification:
Please leave this box empty:
Type the letters shown in the picture
Listen to the letters / Request another image

Type the letters shown in the picture:

Shortcuts: ALT+S post or ALT+P preview