Educational Loans

KVB has made it possible for you to pursue your educational dreams. Our loan has been specifically structured to provide you with financial help if you wish to pursue the education of your choice, either in India and abroad.

EDUCATION LOAN SUBSIDY SCHEMES Click here

Features and Benefits
  • It is a term loan given for studies in India and abroad.
  • Students who are Indian and have secured admission to professional / technical courses in India & abroad.
  • The parents or guardian of the student will be the Co-applicant/guarantor in case of individual applicants.
Charges and Limits
Quantum of Loan ( as per IBA Model) i) For Studies in India : Maximum up to Rs. Rs.100 Lakhs.
ii) For studies abroad : Maximum up to Rs.150 Lakhs.
Margin
Minimum Margin Requirement Study in IndiaStudy Abroad
Upto ₹ 4 LakhsNILNIL
Above ₹ 4 Lakhs and upto ₹ 7.70 Lakhs5%15%
Above ₹ 7.50 Lakhs15%15%
Repayment Tenor In 15 years after repayment holiday (course period and 1 year or 6 months after getting job whichever is earlier).
Primary Security DPN (In case of loan is used for the purchase of equipments / instruments, the same is to be hypothecated to us).
Collateral Security
  • Upto ₹ 4 lakhs No security. Parents to be joint borrower(s). However, bank will have discretion to waive this clause.
  • Above ₹ 4 lakhs and up to ₹7.50 lakhs Besides the parent(s) executing the documents as joint borrower(s), collateral security in the form of suitable third party guarantee will be taken. The bank may, at its discretion, in exceptional cases, waive third party its guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as joint borrower(s). However, third party guarantee will be waived if the loan is eligible for Credit Guarantee coverage Under Credit Guarantee Fund Scheme of Educational Loans (CGFSEL).
  • Above ₹ 7.50 lakhs and upto Rs.150.00 lakh.
    Parent(s) to be joint borrower(s). Tangible collateral security.
Guarantee Father / Guardian in case of Individual applicant
Vidyalakshmi Portal Handling Charges Rs. 110/- + GST
Check more at Vidyalakshmi Portal.
Processing Charges For loans above Rs.7.50 Lakhs Rs.5000/- + GST & for 783 product Rs.10000/-+ GST
Interest Rate

To check all Interest rate: Click here

Business Correspondent

Our bank has empanelled M/s WeMakeScholars EduTech Pvt Ltd as a Corporate Business Correspondent for sourcing of education loans for abroad studies at selected centres.

We Make Scholars website URL: https://www.wemakescholars.com/services

Brief of the product is as below:

Education Loan Studies Abroad
No. of Applicants 2
Age of the Student Applicant

Min :16 Yrs Max: 45 Yrs

Age of Co-Applicant/ Guarantor

Salaired : 70 Yrs
Self-Employed : 75 Yrs
Non-Financial: 80 Yrs
[Maximum age at the time of maturity of loan].

Purpose Term loan for Resident Indian/ NRI to pursue higher education in abroad.
ROI 9.99%
Repayment Tenor Maximum of 15 Yrs (Incl of holiday/ Moratorium period).
Holiday/ Moratorium Period Course Period + 1 Year.
Margin

Top 200 Elite Universities : 3 %
Others : 10 %

Primary Security DPN.
Collateral Security The security can be in the form of land/ building/ KVB Term deposit in the name of student / parent / guardian, LIC policy.
Processing Charges Rs. 10000/-
Insurance Coverage Life insurance policy / credit life insurance policy/ Personal Accident Insurance scheme on the students availing Education Loan is Mandatory.
For further details, please contact our nearest branch.
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