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Education Loan

Achieve your academic goals with Dr. Babasaheb Ambedkar Sahakari Bank Ltd. Education Loan – designed to support your higher education dreams in India and abroad.

Features & Benefits

  • No pre-payment charges if repaid through own sources
  • Attractive and competitive interest rates
  • Simple and hassle-free documentation process
  • Flexible repayment options – ECS / Post-dated Cheques / Standing Instructions
  • Fast loan approval for timely disbursement
  • Insurance coverage available at attractive premiums
  • Suitable moratorium period to reduce financial burden during studies
  • Direct disbursement to educational institutions
  • Telegraphic transfer facility for international education at nominal cost
  • Comprehensive coverage for tuition fees and academic expenses

Purpose

  • To pursue higher education in India or abroad (Graduation, Post-Graduation, and Vocational Courses)

Eligibility

  • Confirmed admission to a recognized course in India or overseas

Quantum of Loan

  • Secured Loan: Up to ₹1.50 Crore for studies in India or abroad
  • Unsecured Loan: Up to ₹5.00 Lakhs (for studies in India only)

No tangible security required for unsecured loans.

Life insurance coverage of at least 50% of the loan amount is mandatory for the applicant.

Rate of Interest

  • 9.00% p.a. for Female Students
  • 9.25% p.a. for Male Students

Margin

  • 10% margin on course fees
  • 20% on Immovable Security
  • 10% on Liquid Security

Whichever is lower will be considered.

Documentation: Refer Basic Documents - Retail Loan

Additional Documents Required

  • Admission confirmation letter or allotment letter
  • Undertaking mentioning source of margin funds
  • Admission proof from the educational institution
  • Estimated cost of education including fee structure and expenses
  • Fee receipts or payment proofs (if already paid)
  • Copy of Passport and Visa (for international education)
  • Previous academic mark sheets and qualification certificates

Security

  • Equitable or Registered Mortgage of immovable property
  • Acceptable liquid securities like FDRs, NSC, KVP, etc.

Moratorium Period

  • Duration of course plus 6 months

Repayment

  • Loan tenure up to 7 years after the moratorium
  • Interest will be served during the moratorium period
  • Total repayment period including moratorium should not exceed 12 years

*Conditions Apply

Disclaimer

ENROUTING TO A THIRD PARTY WEBSITE

By choosing to click on this option, viewers will be prompted to third party links, and Baba Saheb Bank page will disappear and viewers will automatically leave the Bank's page. Needless to state, these links are meant for informative easy gateway. The Baba Saheb Bank do not have any operative hold over any third party web site or its material. Hence our bank cannot be held accountable for the contents or any material of these third party web sites.

So it is pertinent to note that Baba Saheb Bank do not undertake the responsibility of any nature what so ever related to warranties, expressions, representations, in any form either express or implied, related to such third party links or web sites or any material or information contained therein.

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