CORP VIDYA SCHEME

1 Eligibility of the Student

♦ Student should be an Indian national. Should ha
♦ Should have secured at least 60% marks [ 55% for student belonging to SC/ST category ] in the previous
qualifying examination.
♦ Should 
through Entrance test / Merit based selection process/through Management quota after completion of HSC
[10+2 or equivalent]
♦ Loan to NRIs /Securing admission through NRI quota is generally not permitted. However, request
received from NRIs / securing admission through NRI quota can be considered in exceptional cases, if
student is Indian passport holder and they meet normal eligibility requirement subject to providing full
collateral security which is enforceable in India, irrespective of loan amount. In such cases, loan shall
be sanctioned by Retail Asset Hub or Zonal Office, or HO as the case may be.
♦ Person already in gainful employment is not eligible for loan under the scheme except for pursuing evening
course covered under the scheme conducted by an approved Institute.
♦ If a gainfully employed person wants to pursue full time education either on study leave or by resigning from
present employment , such proposals may be considered provided the applicant submits the proof in this
regard to the sanctioning authority before disbursement of loan.
2 Eligible Courses

For Studies in India:

♦ Approved courses leading to Graduate/Post Graduate Degree, Diploma and PG Diplomas conducted by
recognized Colleges/Universities recognized by UGC/Govt/AICTE/AIBMS/ICMR etc..
♦ Courses like ICWA, CA/integrated CA-on virtual /video mode , CFA,etc.[HO.Cir 490/2011 dt.08.07.11]
♦ Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc.
♦ Regular Degree/Diploma courses like Aeronautical, Pilot training, Shipping etc., approved by Director
General of Civil Aviation/ Shipping , if the course is pursued in India.
♦ In case of the Aircraft Maintenance Engineering /Pre Sea training courses must be either a Degree course
recognized by a competent University or Diploma course recognized by appropriate State Body to be eligible
for loan. The employability of the students and employment potential of the course selected has to be
considered while appraising the loan application.
♦ Research course/Ph.D courses for study in India are not eligible for loan under the scheme.
♦ Approved Courses offered in India by reputed Foreign Universities.
♦ Teachers training /Nursing/B.Ed courses provided the training institutions are approved either by Central
Govt or by State Govt and such courses should lead to Degree or Diploma and not to Certificate course.
♦ Correspondence courses/Part time /Certificate/Short duration courses / off-campus courses and On-
site/Partnership programme are NOT eligible for loan under the scheme. However, Vocational/Skill
development courses are eligible under the Scheme for which separate guidelines are prescribed.
For Studies abroad:
♦ Graduation: For job oriented Professional/Technical courses offered by reputed Universities .
♦ Post Graduation: MCA, MBA, MS etc.
♦ Course conducted by CIMA- London, CPA in USA etc.
 ♦ Degree/Diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by
competent regulatory bodies in India/Abroad for the purpose of employment in India/Abroad.
♦ However, PG diploma courses for study abroad is permitted.
♦ Diploma courses for study abroad is NOT permitted. In case of Diploma courses for study abroad,
proposals may be considered on a case to case basis , based on merits of each case subject to the condition
that the loan is fully secured irrespective of loan amount and deviation is obtained from the competent
authority.
♦ Research course/Ph.D courses for study abroad are not eligible for loan under the scheme.
3 Eligible Expenses.
♦ Fee payable to College./School/Hostel /Examination/ Library/ Laboratory fee.
♦ Travel expenses/Passage money for studies abroad.
♦ Caution Deposit, Building Fund/Refundable deposit, though supported by Institution bills/receipts, are not
eligible.
♦ Purchase of books/Equipment/Instruments/Uniforms[Refer to–Note]
♦ Purchase of computer at reasonable cost, if required for completion of the course[Refer to–Note] .
♦ Any other expenses required to complete the course like study tours, project work, thesis etc.[Refer-note]
Note: It is likely that expenditure under the above item may not be available in the schedule of fees and charges
prescribed by the college. Therefore, a realistic assessment may be made of the requirement under these heads.
However, the maximum expenses for all such items of expenditure together may be restricted to 20% of the
total tuition fees payable for completion of the course.
♦ Hostel fees/expenses may be considered as eligible expenses for finance under the Scheme. Payment of hostel
fees should be made directly to the hostel authorities.
♦ Reasonable lodging and boarding charges will be considered in case the student chooses/is required to opt for
outside/private/paying guest accommodation. In such cases, letter from the Institution regarding non availability of
hostel accommodation need not be insisted.
♦ In such cases, payment towards accommodation and food may be made directly to the student.
♦ Insurance premium for life of student borrower.
♦ For courses under Management Quota seats, fees as approved by the State Government/Government approved
regulatory body for payment seats will be taken, subject to viability of repayment.
4 Quantum of loan
Studies in India : Maximum of Rs.10 lakhs
Studies Abroad : Maximum of Rs.20 lakhs
♦ Loan exceeding above ceiling may also be considered.
♦ Education loans extended to individual member of the family shall not be clubbed with the education loans
availed by any other member of the same family. However, all loans availed by an individual member of
the family shall be aggregated/clubbed for the purpose of margin, security, rate of interest etc..
♦ Existence of an earlier education loan to the brother(s) and/or sister(s) will not affect the eligibility of another
meritorious student from the same family obtaining education loan as per this scheme from the bank.
♦ Repayment of the education loan is based on the future earning potential of the student. Going by the spirit
of the scheme, limit of Rs 4 lakh collateral free loan is student specific and not family specific. There is
no restriction on giving a second or third collateral free loan to other siblings when one of the siblings has
already taken a collateral free loan.
5 Margin
Up to Rs. 4 lakhs : -NIL-
Above Rs.4 lakhs : Studies in India 
5%, Studies abroad 15%

Scholarship/Assistantship to be in included in margin. Margin may be brought –in on year - to- year basis as and
when disbursement are made on a pro-rate basis.
6 Processing Charges
♦ No Processing Charges for studies in India
♦ Rs.2000/- +Tax , only for studies abroad to be refunded once the loan is availed. However, amount of Tax
should not be refunded.
7 Prepayment Charges : -NIL-
8 Security
Up to Rs.4.00 Lakh : Co-obligation of Parent/s, Grand Parent/s ( if parents are deceased) No other security.
Above Rs.4.00 Lakh & up to Rs.7.50 Lakh : Co obligation of Parent/s Grand Parent/s ( if parents are deceased)
together with collateral in the form of suitable third party guarantee with a net worth of at least equal to loan
amount.
Above Rs.7.50 Lakh : Co- obligation of Parents/Grand Parents ( if Parents are deceased) together with tangible
collateral security along with the assignment of future income of the student for payment of instalments. Loan
shall be fully secured after maintaining prescribed margin on respective securities offered.
♦ In case of married person, co obligant can be either spouse, or the parents or parents -in-law.

Margin for various type of securities is as under:

Security- Immovable property 35%
Margin Govt Securities ( face value of NSC/ KVP etc..) 25%
LIC Policy ( Surrender Value) 10%
Deposits ( Balance outstanding) 10%
9 Rate of Interest
♦ Floating rate, presently offered under the following slabs– linked to the Base Rate.]

Upto Rs. 4 Lakhs : 11.85%

Above Rs.4 Lakhs to Rs.7.50 Lakhs : 12.85%
Above Rs.7.50 Lakhs : 12.35%
[ Fixed rate option is not available ]
♦ Simple interest will be charged during repayment holiday period.
♦ Concession in rate of interest at 25 bps below the applicable card rate is extended to SC/ST/Women
beneficiaries for fresh loans sanctioned/ disbursed on or after 15.08.2008.
♦ Concession in rate of interest at 50 bps (inclusive of 25 bps available for SC/ST/Women) below the
applicable card rate for girl students for new loans sanctioned/ disbursed w.e.from : 04.03.2009.
♦ Interest concession of 0.50% is extended to Physically Challenged students for loans initially disbursed on
or after 20.09.2010
Note: 1% interest concession is available during repayment holiday period if the interest is serviced as and when
debited, but not later than 30 days of debit. In the event of intermittent default, concession may be extended for
the period of regular interest servicing.
Example: Date of interest debit and date of interest servicing is as under:
Interest debited on Interest serviced on Interest concession available.
31st January 25th February Yes.- serviced within 30 days
28th February 15th April No. - serviced after 30 days
31st March 15th April Yes.- serviced within 30 days
30th April, 31st
May, 30th June, 31st 15th September Concession is available for interest
July, 31st August debited on 31 st August only.
10 Repayment Period
For loans upto Rs.7.5 lakhs : 10 years – Fixed – excluding initial repayment holiday
For loans above Rs.7.5 lakhs : 15 years -Fixed – excluding initial repayment holiday
[fixing repayment tenor lower than prescribed above is not permitted]
Since prepayment penalty is not applicable under the scheme, borrower may prepay the loan at any time during
the currency of the loan.
The loan has to be repaid within a period of 10 /15 years [ as per the loan amount ]after completion of initial
repayment holiday.
Repayment holiday is the course period + 1 year OR 6 months after getting the job whichever is earlier.

11 Repayment of loan [Repayment of loan in Step- Up EMI /Balloon payment ]

The borrower may service the interest debited during the initial repayment holiday period to lessen the burden of
EMI. In all other cases, the accumulated interest will be added to the principal at the beginning of the repayment
period to arrive at EMI.
As per the scheme, the loan is repayable in EMI. However, it is observed that irrespective of the course pursued,
the possibilities of initially getting high-end /high salary job is uncommon. The salary package would be lower
during the first 2-3 years of initial appointment which will gradually increase thereafter based on experience.
Therefore, it may not be possible to service higher EMI during the initial stages of appointment. In addition to this
the student borrower is required to meet expenses relating to room/lease rent/ deposit etc..

Therefore, the loans shall be repaid in EMI to be re-set in the following order: [This guidelines is
applicable for the existing loans also ]
For the first three years from the date of commencement of repayment : EMI will be at a minimum of 50% of net
income of the student borrower.
For the next three years: EMI will be at a minimum of 60% of net income of the student borrower , prevailing
as on date of commencement of fourth year.
For remaining years: EMI shall be fixed based on the balance outstanding at the beginning of seventh year so
that the entire loan will be closed within the balance repayment period.
Wherever, student borrower has higher repayment capacity, in such cases, higher EMI shall be fixed.
Where the student discontinues the course midway, appropriate repayment schedule will be worked out in
consultation with the student/parents.

12 Other Guidelines

♦ Loan should be availed preferably from the Bank/ Branch situated near to the place of domicile of the
parents. However, service area approach is not applicable.
♦ The model educational loan scheme has not stipulated a service area approach to finance under the Scheme.
While proximity to the residence of parents is considered as an advantage in KYC compliance, the scheme
allows the student to have a choice in deciding on the bank from where to borrow.
♦ Take over of loan from other banks is strictly not permitted.
♦ Second loan may be considered for higher study in India or Abroad. In such case repayment period/holiday
period of the existing loan may be extended.
♦ Reimbursement of fees only for the first year of the course is permitted and applicable only for study in India.
♦ Wherever carry over system prevails in the college, fees for the next year of the course may be released
even though the student has failed subject to the condition that the student shall complete the course during
the following year.
♦ There is no age restriction for students seeking loan. However, Sanctioning Authority shall ensure that his
age is not barred, to be eligible for job after completion of the course. In case of student is minor, branch
shall have to obtain a letter of ratification from him/her upon attaining majority.
♦ In case of Teachers training /Nursing /B.Ed courses, the fees to be considered for the purpose should be the
fees structure as approved by the State Govt or Central Govt or a Government approved Regulatory body
for merit seats. In respect of admission through Management Quota for Nursing courses, the fees to be
considered shall be within the fees structure as approved by the Govt for Merit seats in Govt colleges.
♦ For courses other than Teachers training /Nursing /B.Ed courses ,under Management Quota seats
considered under the Scheme, fees as approved by the State Government/Government approved regulatory
body for payment seats will be taken, subject to viability of repayment.
♦ In cases where the previous qualifying exam=s results are yet to be announced but the applicant has
secured admission for study abroad & is applying for VISA, the Sanctioning Authority, may consider the
application for sanction, based on the merits, subject to complying other eligibility criterion. However,
disbursement of loan should be made only after submitting proof of passing previous qualifying exam by the
applicant.
♦ Agricultural property may also be obtained as security, provided Law of the concerned State do not
prohibit the same.
♦ Student may be covered under Bank=s Corp Suraksha Insurance scheme, at the option of the borrower.
♦ No application for education loan should be rejected without the concurrence of the next higher authority
♦ For student borrower studying abroad, the Branches may obtain the Unique Identification Number(UIN)
Identity Card available if any, and note the same in our records. PAN card details / UID number issued by
UIDIA may also be obtained and captured in Bank's system as and when the same is available.
♦ In deserving cases and based on merits, the Sanctioning Authority may consider extending second /top up
education loan to the borrower, immediately after the successful completion of the first course or at a later
date, for pursuing higher studies in India/Abroad, subject to compliance of all other Scheme guidelines such
as eligibility, security, margin etc.. In such cases repayment holiday period of existing loan may be extended.
♦ Extension of Initial repayment holiday: If the student is not able to complete the course for reasons
beyond his control, Sanctioning Authority may at his discretion consider such extensions as may be deemed
necessary to complete the course
♦ Banks can so al issue the capability certificate for students going abroad for higher studies. For this purpose
financial and other supporting documents may be obtained from applicant, if required. [some of the foreign
universities require the students to submit a certificate from their bankers about the sponsor's
solvency/financial capability, with a view of ensure that the sponsors of the students going abroad for higher
studies are capable of meeting the expenses till completion of studies]
♦ -condition for considering education loan. However,
No due certificate will not be insisted upon as a pre
banks may obtain a declaration/ an affidavit confirming that no education loans are availed by him from
other banks.
Disposal of loan application:
Loan applications have to be disposed of in the normal course within a period of 15 days to one month, but not
exceeding the time norms stipulated for disposing of loan applications under priority sector lending.
♦ Applications will be received either directly at bank branches or through on-line mode. Upon receipt of
application, standard acknowledgement giving a reference number will be issued. The acknowledgement will
contain contact details of the bank official who, could be contacted in case of delay in disposal of application.
♦ Normally, sanction/rejection will be communicated within 15 days of receipt of duly completed application with
supporting documents.
♦ In the normal course, while appraising the loan, the future income prospect of the student only will be
looked into.
♦ Rejection of loan application, if any, shall be done with the concurrence of the controlling authority of the
branch concerned and conveyed to the student stating reason for rejection.
♦ The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/Vendors of
equipment/instruments to the extent possible
 GUIDELINES FOR EXTENDING LOAN FOR PURSUING VOCATIONAL TRAINING & SKILL DEVELOPM,ENT
COURSES UNDER CORP VIDYA SCHEME - “ CVDVC ”

1 Student Eligibility
 The student should be an Indian National
 Student should have secured admission to a course run or supported by a Ministry/ Dept/ Organization of
the Govt or a Company/ Society/ Organization supported by National Skill Development Corporation or
State Skill Missions/ State Skill Corporations, preferably leading to a Certificate/Diploma/Degree etc.,
issued by a Govt Organization or an organization recognized/ authorized by the Govt to do so.

2 Course Eligibility

 Vocational /Skill development courses of duration of 2 months to 3 years run or supported by a Ministry
/Dept /Organization of the Govt or a company/society /organization supported by National Skill
Development Corporation or State Skill Missions /State Skill Corporations, preferably leading to a
Certificate//Diploma /Degree etc., issued by a Govt Organization or an organization recognized/ authorized
by the Govt to do so.
 Any other skill development courses which will ensure employability, approved by SLBC /SLCC

3 Eligible expenses
 Tuition fee/course fee
 Examination /Library /Laboratory fee
 Caution deposit
 Purchase of books, equipment and instruments.
 Any other reasonable expenditure found necessary for completion of the course [ As such courses are
localized, boarding, lodging may not be necessary. However, wherever it has been found necessary, the
same could be considered on merits.
4 Quantum of Finance

For courses of duration upto 3 months Rs. 20,000/-

For courses of duration 3 to 6 months Rs. 50,000/-
For courses of duration 6 to 12 months Rs. 75,000/-
For courses of duration above 1 year Rs.1,50,000/-

Bank may consider sanction of higher limits for courses of duration of 1 year, if required, for specific courses
offered by reputed institutions having regard to the nature of such courses and employability. with duration upto
1 year and limits upto Rs.2 lakhs [i.e ability to repay out of job earning]
5 Margin -Nil-
6 Rate of interest
As applicable for loans under Corp Vidya Scheme - [linked to Base Rate] for loan upto Rs.4 lakhs. [ Fixed rate
option is not available under the Scheme ]
Simple interest will be charged during the initial repayment holiday period. 1% interest concession is available
during repayment holiday period if the interest is serviced as and when debited, but not later than 30 days of
debit
Concession in rate of interest at 25 bps below the applicable card rate is extended to SC/ST/Women.
Concession in rate of interest at 50 bps (inclusive of 25 bps available for SC/ST/Women) below the applicable
card rate for girl students for new loans.
Interest concession of 0.50% is extended to Physically Challenged students.
7 Processing Charges -Nil-

8 Prepayment Charges -Nil-

Co-obligation of Parent/s, Grand Parent/s ( if parents are deceased) . No other

9 Security
security.
Moratorium Period Courses of duration upto 1 year course period + 6 months
10 [Initial repayment
Courses of duration above 1 year Course period +12 months
holiday]
11 Repayment Tenor

Loan upto Loan above Rs.50000/- Loan above

Rs.50000/- & upto Rs.1 lakh Rs. 1 lakh
Repayment period
Upto 2 years 2 to 5 years 3 to 7 years
[after moratorium]

The borrower may service the interest debited during the initial repayment holiday period to lessen the burden of
EMI. In all other cases, the accumulated interest will be added to the principal at the beginning of the
repayment period to arrive at EMI.

12 Repayment : Repayment of loan in Step- Up EMI /Balloon payment:

The education loans shall be repaid in EMI to be re-set in the following order:
For the first three years from the date of commencement of repayment : EMI will be at a minimum of 50% of
net income of the student borrower.
For the next three years: : EMI will be at a minimum of 60% of net income of the student borrower ,
prevailing as on date of commencement of fourth year.
For remaining years: EMI shall be fixed based on the balance outstanding at the beginning of seventh year so
that the entire loan will be closed within the balance repayment period.
Wherever, student borrower has higher repayment capacity, in such cases, higher EMI shall be fixed.
Where the student discontinues the course midway, appropriate repayment schedule will be worked out
in consultation with the student/parents.
13 Other Guidelines
Loan should be availed preferably from the Bank/ Branch situated near to the place of domicile of the
parents.
Takeover of loan from other banks is strictly not permitted.
Reimbursement of fees only for the first year of the course is permitted for study in India only.
Student may be covered under Bank’s Corp Suraksha Insurance Scheme, at the option of the borrower.
No due certificate will not be insisted upon as a pre-condition for considering education loan. However, banks
may obtain a declaration/ an affidavit confirming that no education loans are availed by him from other banks.
The loan to be disbursed in stages as per the requirement/demand directly to the Institutions to the extent
possible.

Note: Except the above, all other guidelines of Corp Vidya Scheme for pursuing study in India are equally applicable to
loan sanctioned under “ CVDVC” also.
 COMMON / UNIFORM GUIDELINS

A OBTENTION OF INCOME PROOF

a) For Salaries class: Last 3 months salary slip /certificate, duly attested to be obtained. However, repayment
capacity is arrived at as per latest salary slip/certificate. (If last drawn salary is low due to loss of pay etc, notional
salary for the month shall be considered with proper justification)
However, if the borrower/s has/have regular income, other than salary, such as Over Time, Performance related
Bonus/ Incentives/Agricultural income etc., which is not appearing in pay slip/certificate but shown in IT return, due to
which income shown in IT returns is higher than as shown in salary slip/certificate, in such cases, IT return may be
considered to arrive at repayment capacity.
b) Other than Salaried class : Last 3 years IT returns to be obtained to verify the consistency of income & regular
filing of the returns. However repayment capacity is arrived at as per net income as per latest IT return. Year to
year 25% variation in income is tolerated. If variation is more than 25%, average net income as per last 3 years IT
returns/ Balance sheets shall be considered. Pensioners and retired persons are coming under other than
salaried class.
Where IT return is yet to be filed, Audited financial statements may be considered on a case to case basis.
c) Other than Salaried class (Where the borrower is not an IT Assessee. i.e. income is less than IT exemption
limit ): Last 3 years P& L a/c and Balance sheets to be obtained to verify the consistency of income. However
repayment capacity is arrived at as per net income as per latest P&L a/c and Balance sheet. Year to year 25%
variation in income is tolerated. If variation is more than 25%, average net income as per last 3 years P & L a/c and
Balance sheets shall be considered.
d) In case of Agriculturists & others not covered under a,b,c above: Income certificate issued by Revenue
Authority OR other Competent Authority shall be obtained.
Note: Under NO circumstances, provisional income, certified by Chartered Accountant shall be considered.
B PROPERTY SITUATED IN COMMAND AREA [ Except for Corp Home]
Wherever immovable property is taken as security, property situated within 15 kms radial distance from the Branch (for
Rural & Semi Urban branches) and 25 kms from the Branch ( for Metro, Urban & Port Town branches) may be treated
as situated within the command area of the Branch. For Corp Home, please refer to Chapter on Corp Home
Scheme.

Guarantee of any person other than Father, Mother, Spouse, Son, Daughter, & Sister shall be treated as third party
guarantee. However, Brother may be taken as guarantor.
 EMI -TABLE

Equated Monthly Instalments for every Rs.1 Lakh of loan for various repayment periods

Rate Repayment Period Notiona

of l
Interest Interest
1 2 3 4 5 6 7 10 15 20 25 30 for 30
year year year year year year year year year years year year Days
s s s s s s s s s s

10.00 8792 4615 3227 2536 2125 1853 1660 1322 1075 965 909 878 822

10.25 8803 4626 3239 2548 2137 1865 1673 1335 1090 982 926 897 842

10.50 8815 4638 3250 2560 2150 1878 1686 1349 1105 998 944 915 863

10.75 8827 4649 3262 2572 2162 1891 1699 1363 1121 1015 962 934 884

11.00 8838 4661 3274 2585 2174 1903 1712 1378 1137 1032 980 953 904

11.25 8850 4672 3286 2697 2187 1916 1725 1392 1152 1049 998 972 925

11.50 8862 4684 3298 2609 2199 1929 1739 1406 1168 1066 1017 991 945

11.75 8873 4696 3310 2621 2212 1942 1752 1420 1184 1084 1035 1010 966

12.00 8885 4707 3321 2633 2225 1955 1765 1435 1200 1101 1053 1029 986

12.25 8897 4719 3333 2646 2237 1968 1779 1449 1216 1119 1072 1048 1007

12.50 8908 4731 3345 2658 2250 1981 1792 1464 1233 1136 1090 1068 1027

12.75 8920 4742 3357 2670 2263 1994 1806 1478 1249 1154 1109 1087 1048

13.00 8932 4754 3369 2683 2275 2007 1819 1493 1265 1172 1128 1107 1068

13.25 8944 4766 3381 2695 2288 2021 1833 1508 1282 1189 1147 1126 1089

13.50 8955 4778 3394 2708 2301 2034 1847 1523 1298 1207 1166 1146 1110

13.75 8967 4790 3406 2720 2314 2047 1860 1538 1315 1225 1185 1166 1130
14.00 8979 4801 3418 2733 2327 2061 1874 1553 1332 1244 1204 1185 1151

14.25 8991 4813 3430 2745 2340 2074 1888 1568 1349 1262 1223 1205 1171

14.50 9002 4825 3442 2758 2353 2087 1902 1583 1366 1280 1242 1225 1192

14.75 9014 4837 3454 2770 2366 2100 1916 1598 1383 1298 1262 1245 1212

15.00 9026 4849 3467 2783 2379 2115 1930 1613 1400 1317 1281 1265 1233

15.50 9049 4873 3491 2809 2405 2142 1958 1644 1434 1354 1320 1305 1274

9073 4896 3516 2834 2432 2169 1986 1675 1469 1391 1359 1345 1315
16.00
 CHECK LIST OF DOCUMENTS TO BE SUBMITTED ALONG WITH APPLICATION
Please mark [  ] the documents that are produced
Common Documents Yes No
1 Address Proof & Age Proof of the applicant/s and guarantor/s (Voter Identification Card, Passport, SSC
Certificate/School Leaving Certificate or PAN - Card/ Ration Card /Driving Licence)
2 Place of domicile proof
3 Attested Certificates/Marks Card of previous qualifying exams starting from SSLC
4 Letter of admission issued by the Institute/College
5 Prospectus & other documents issued by the College/Institute.
6 Letter/Certificate from the Institution, giving year wise break up of fees/expenses.
7 Letter from the Institution regarding non availability of hostel facility
8 Two Passport size photographs of the Applicant , Co -obligant and Guarantor.
9 Net-worth Statements - Details of Assets and Liabilities of Borrower/s & Guarantor [Format available in
the Branch] duly certified by the Chartered Accountant where the loan amount is for Rs.25 lakhs and
above.
10 In case of study abroad following additional documents are required
Employment Contract: Consisting of details of terms of contract including remaining period of contract,
any provision for renewal of contract, nature of employment, remuneration etc.
Entry Permit with particulars of permit including validity period, issuing authority.
Pass Port & Visa
Admission letter & I-20 form issued by Foreign Institution.
11 Security Related Documents if immovable property is offered as security
Documents of title for property and/ or all the link documents evidencing title of the property, i.e. Sale
Deed and earlier title deeds.
Up to date encumbrance certificate for the past 13 years.
Latest property Tax-paid receipts.
Legal Opinion on title to property from Bank’s approved advocate to be obtained through the branch.
Copy of Approved Plan and Building Licence
Valuation report from approved Civil Engineer to be obtained through the Branch.
Copy of Occupancy Certificate issued by the local authority.
12 Income Proof, if any, of Co obligant such as Salary slip/IT Return/ etc.
13 Affidavit to the effect that NO education loans are availed/out standing with other Banks/Institutions
14 Where the applicant is gainfully employed, copy of acceptance of resignation letter or study leave
sanction letter.

NOTE: The checklist is only indicative. The Check List is intended to help the loan applicants to become aware of basic
requirements, which will enable the Bank to process the application quickly. The bank reserves the right to accept or reject any
application, without assigning any reasons. Neither the Bank nor any of its officials is liable for any delay and/or lapse on part
of any third party.