I already have an account in the Prathama Bank and planning to take Education Loan from this bank searching for loan details. Will you provide basic details about Education Loan Scheme along with Eligibility to take loan also provide details what the Quantum and Repayment?

[prince karak]

Prathama Bank is the First Regional Rural Bank of India, sponsored by Syndicate Bank established on 2nd October, 1975, with its Head Office at Moradabad in accordance with Regional Rural Bank Ordinance 1975 issued on 26th September, 1975

Education Loan Scheme

Purpose

To provide financial assistance to the meritorious students in getting their education completed specially for higher education. The scheme aims to ensure that the deserving students may not loose opportunities for want of arrangements of funds

Eligibility

All students having good record of their previous education and having admitted to a particular course in the recognised institutions

Quantum
For loans up to Rs. 4.00 lac no margin
For loans above Rs. 4.00 lac 5 %
Margin For study in India up to Rs 7.50 lac
For study abroad up to Rs. 15.00 lac

The sanctioned amount will be need based and as per repaying capacity

Repayment

To be repaid in 5 to 7 years in suitable monthly instalments.
Repayment will start after one year of completion of course or after 6 months of job whichever falls earlier
However the guardian / father is required to pay the monthly accrued interest in the account

Security
Up to 4.00 lac no collateral security
Above 4.00 lac any collateral security

Contact:

Prathama Bank,
Head Office, Prathama Bhawan,
Ram Ganga Vihar Phase-II
Post Box NO. 446,
Moradabad-244001,
Uttar Pradesh (INDIA).
0591-2455176 ,177,178,179,180

Toll Free : 1-800-833-1555
10 AM to 5 PM (Mon to Sat) except 1st & 2nd Saturday
0591-2455175
info@prathamabank.org
prathamabank@yahoo.com