IIIT Hyderabad Education Loan

Hello sir I am here as I want to get the information of Education Loan Scheme of International Institute of Information Technology, Hyderabad so will you please provide me details of this Scheme??

Hey!!!! Here as per your demand here I am providing you information about Education Loan Scheme of International Institute of Information Technology, Hyderabad

1. Quantum Upto Rs. 10 Lakhs

2. Margin
Upto Rs. 4 Lakhs - NIL
Above Rs. 4 Lakhs - 5%

3. Security:
i) Loan upto Rs. 4 Lakhs
- NIL
- Loan in the joint names of student and parent.
- Assignment of future income of student.

ii) Loan above Rs. 4 Lakhs upto Rs.7.5 Lakhs
- For Meritorious student: Satisfactory 3rd party Guarantee loan in the joint names of student and parent
- Assignment of future income of student.
- For others: Collateral security to the extent of Loan Amount.

iii) Loan above Rs. 7.50 Lakhs
- Loan in the joint names of student and parent.
- Assignment of future income of student.
- Collateral security to the extent of Loan Amount.


4. Rate of Interest:
Upto Rs. 4 Lakhs - 11.50% (Floating)
Above Rs. 4 Lakhs to Rs. 7.5 Lakhs - 12.00% (Floating)
Above Rs. 7.50 Lakhs - 11.50% (Floating)

5. Processing Charges NIL

6. Repayment
For Loans upto Rs. 7.5 Lakhs - 10 Years
For Loans above Rs. 7.50 Lkhs - 15 Years

7. Other Concessions
0.5% interest concession to Girl students.
0.5% concession where interest is serviced during the study period.

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Answered By StudyChaCha Member