RBI
Reserve Bank of India has advised all scheduled commercial banks to adopt education loan scheme prepared by the Indian Banks' Association.
The main features of the scheme include:
- Loan upto Rs. 10 lakhs for study in India and up to Rs. 20 lakhs for study abroad.
- Collateral free loan up to 7.5 lakh under the Credit Guarantee Fund Scheme (CGFSEL) for Education Loan
- No margin for loan up to 7.50 lakh.
- Repayment period of 15 years
- After completion of study in all cases, one year moratorium for repayment.
- Considering the period of unemployment / employment during the life cycle of the loan two or three times, moratorium
- Moratorium for incubation period if the student wants to start a start-up venture after graduation
important facts-
- 25th governor of RBI: Stalin slave;
- Headquarters: Mumbai
- Established: April 1, 1935, Kolkata.
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