NITIE Education Loan

Hii sir, I wants to get the Education Lion Offered by the State bank of India for Admission Into the NITIE

National Institute of Industrial Engineering is one of the top management Institutes in India, located in Powai near Vihar Lake in Mumbai, India.

As you Asking for the Education Lion Offered by the State bank of India for Admission Into the NITIE the Information About the Education Loan is given below

Sanction of Term Loan to students (Indian Nationals) for pursuing higher education in India in the Select Premier Institutions

Education Loans for Students securing admission in the country’s best Engineering and Medical colleges, top B-Schools, Law colleges & other reputed institution

Student Eligibility:
Should be an Indian National
Secured admission to Professional/Technical courses through
Entrance Test/Selection process.
No minimum qualifying marks stipulated in the last qualifying
examination

4. Expenses Considered for Loan:
Fees payable to college/school/hostel
Examination/ Library/ Laboratory fees
Purchase of books/equipments/instruments
Caution deposit / building fund/ refundable deposit supported by
Institution bills/ receipts [not to exceed 10% of the tuition fees for
the entire course].
Travel expenses/expenses on exchange programme*
Purchase of computer/laptop*
Any other expenses related to education*

Interest Charges :

100bps above base rate i.e., 10.70% p.a. at presentFurther concessions:

25 bps - work experience of more than 2 years50 bps – with parent/ spouse/ guardian as coborrowers

75 bps - collateral security >= the loan amount(effective rate of interest with all 3 concessions above not to be lower than 25 bps above base rate,
presently 9.95 % p.a.)

175bps above Base rate i.e. 11.45% p.a. at present

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration.


State bank of india Education Loan for Admission into the NITIE

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Answered By StudyChaCha Member