4/28/2020 COACHING FEE LOAN SCHEME | Jammu and Kashmir J&K Bank

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 (../../index.html)  Personal  COACHING FEE LOAN SCHEME

NATURE OF FACILITY

Term Loan

PURPOSE

Financing fees of coaching classes or institutes that train students for entrance examinations to
courses like medicine, engineering and civil services etc. and for other related expenses like
lodging / boarding, purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials.

CLASSIFICATION

Priority.

ELIGIBILITY

Student should be an Indian National and should have completed Class X or above aspiring for
admission in Engineering, MBBS, MBA, Post-Graduation courses etc.
Students pursuing graduation/post-graduation course or employed individuals, desirous of
competing for Civil Service Exam of UPSC / State Public Service Commission for employment in
IAS, KAS, IPS, KPS etc.
The students should have secured a minimum of 55% marks in the previous qualifying exam.
Age not exceeding the maximum for targeted competitive exam
Parent/Guardian only borrower, if age of the student is below 18 years.
Parent/Guardian, jointly with the student if age of the student is 18 years or above.

BORROWER ELIGIBILITY

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4/28/2020 COACHING FEE LOAN SCHEME | Jammu and Kashmir J&K Bank

Permanent Employees of State / Central Government, Government / Semi-Government

Undertakings, Autonomous Bodies, Public Limited Companies / Private Limited Companies who
have been in current employment for a period of not less than two years.
Professionals, Self Employed Individuals ,Proprietorship Concerns, Persons engaged in
agricultural and allied activities having at least one year satisfactory dealing with J&K Bank.
Pensioners State/Central Government, Public Sector Undertaking.

BORROWER’S AGE

Maximum age of Parent/Guardian at loan maturity: 65 years or age of retirement whichever is

earlier.
If Parent/Guardian is a pensioner maximum age at loan maturity: 68 years

MAXIMUM LOAN:

Rs. 2 Lakh per child for coaching studies in India.

Maximum Amount per parent/guardian- Rs.4 Lakh only.

Finance for purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials should
not exceed Rs. 40,000/= per student within the overall limit of Rs. 2.00 Lakh.

QUANTUM OF FINANCE

For Permanent Employees / Pensioners: Maximum 18 times of gross monthly salary /

pension/ income or 90% of coaching fee (which may include boarding & lodging expenses if
available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks /
Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower.
For Other Eligible Categories: 1.5 times of average gross annual income of last two years or
90% of coaching fee (which may include boarding & lodging expenses if available in-house)
plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study
Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower

PROCESSING CHARGES

Rs. 250

MARGIN

10% of the coaching fee (which may include boarding & lodging expenses if available in-
house).
25% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material /
eTutorials

SECURITY

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4/28/2020 COACHING FEE LOAN SCHEME | Jammu and Kashmir J&K Bank

Primary : NIL
Collateral: Third Party Guarantee of One person.
In case of pensioners, guarantee of one person & guarantee of Spouse eligible for family
pension shall be obtained.
No third party guarantee required in respect of permanent employees of State – UT and
Central Government, State--UT / Central Government Undertakings & Autonomous bodies
drawing salary through our Bank and where letter of undertaking from employer is available.

RATE OF INTEREST (SUBJECT TO CHANGE)

RLLR + 2% Floating
Click here for rate of Interest (../../others/common/intrates.php)

REPAYMENT

36 months including moratorium period of 3 months.

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