Indicative Security Terms and Rate of Interest for Different Banks (subject to change from time to time)

S No. Name of the Bank Security Interest Rates Contact Numbers

Up to` 7.5 Lakhs - Only Up to ` 4 lakhs: 10.00%
Parent/Guardian as Co-
` 4 lakhs to ` 7.5 lakhs: 10.75%
burrower. No collateral security Bank Branch at your place of
1 State Bank of India
Above ` 7.5 lakhs - Tangible Above ` 7.50 lakhs: 10.80% domicile/native place
collateral security for full value (Concession 0.50% in Interest
of the loan. for girl students)
Upto` 4 lakhs:
Parent(s)/guardian as a joint
burrower(s)
Upto` 7.5 lakhs: 10.15%
` 4 lakhs- ` 7.5 lakhs:Collateral
Punjab National Bank Branch at your place of
2 Security in the form of suitable
Bank domicile/native place
third party guarantee.
Above ` 7. 5 lakhs: Tangible
Collateral security for full value Above ` 7.50 lakhs: 10.00%
of the loan.
Upto` 4 lakhs: Nil Upto` 7.50 lakhs: 10.40%
` 4 lakhs-` 7.5 lakhs: Co-
obligation of
parent/guardian/Third party
Guarantee acceptable to bank.
Above ` 7.50 lakhs: 10.10% Bank Branch at your place of
3 Andhra Bank
(Concession 0.50% in Interest domicile/native place
Above ` 7.5 lakhs: Tangible
for girl students)
security of suitable value
besides co-obligation of parent.
Parent co-obligation and
assignment of future income.

Upto` 4 lakhs: Co-obligation of

parents/ guardian is must. No
collateral security required.
Upto` 10 lakhs: 8.90%
Oriental Bank of ` 4 lakhs - ` 7. 5 lakhs: Co- Bank Branch at your place of
4 (Concession 0.50% in Interest
Commerce obligation of parents/guardians domicile/native place
for girl students)
is must. One satisfactory third
party guarantee.
Above ` 7.5 lakhs: Co-obligation
of parents/ guardian is

Page: 1 of 4
 Indicative Security Terms and Rate of Interest for Different Banks (subject to change from time to time)
S No. Name of the Bank Security Interest Rates Contact Numbers
Upto` 4 lakhs - Nil

` 4 lakhs -` 7.5 lakhs - Collateral

in the form of a suitable third Upto ` 7.5 lakhs: 10.80%
party/ guarantee along with
assignment of future income.

Above ` 7.5 lakhs - Tangible

Security equal to 100% loan
Above ` 7.5 lakhs: 10.05%
amount along with assignment
of future income. Bank Branch at your place of
5 Bank of Baroda
domicile/native place
1% concession for girl
students. Simple interest at
monthly rests during the
repayment holiday period. 1%
concession is provided if
interest debited during
repayment holiday is serviced.
Penal Interest @2% p.a. on
overdue amount, if the loan
exceeds Rs. 4.00 lakhs.

Upto` 4 lakhs: No security loan

in the joint names of student &
Upto` 7.5 lakhs: 10.30%
parent assignment of future
income of the student.

Above ` 4 lakhs -` 7. 5 lakhs: For

Bank Branch at your place of
6 Canara Bank meritorious student Satisfactory
domicile/native place
third party guarantee
Above ` 7.5 lakhs: 9.8%
assignment of future income of
(Concession 0.50% in interest
the student.
for girl students)

Above ` 7.5 lakhs - ` 10 lakhs:

Collateral Security to the extent
of 100%.
Upto` 4 lakhs: Nil
` 4 lakhs- ` 7. 5 lakhs: Collateral
Upto ` 7.5 lakhs: 10.65%
in the form of satisfactory third
party guarantee.
Bank Branch at your place of
7 Corporation Bank Above ` 7. 5 lakhs: Tangible
domicile/native place
Collateral security of suitable
value or third party guarantee
Above ` 7.5 lakhs: 11.00%
along with the assignment of
future income of the student for
payment of installments.

Page: 2 of 4
 Indicative Security Terms and Rate of Interest for Different Banks (subject to change from time to time)
S No. Name of the Bank Security Interest Rates Contact Numbers
Upto` 4 lakhs: Nil Upto` 4 lakhs: 10.10%
` 4 lakhs -` 7. 5 lakhs: Third Party
Guarantee acceptable to Bank Above ` 4 to 7.5 lakhs: 10.35%
having adequate net worth.
Bank Branch at your place of
8 Syndicate Bank Above ` 7.5 lakhs: Tangible
domicile/native place
Collateral security of suitalbe
Above ` 7.5 lakhs: 11.35%
value acceptable to bank, along
(Concession 0.50% in Interest
with the assignment of future
for girl students)
income of the student for
payment of installments.
Upto` 4 lakhs: Nil
` 4 lakhs -` 7. 5 lakhs: Co-
obligation of the parents with
collateral security in the form of
suitable third party guarantee
along with the assignment of
Central Bank of future income of the students For Male Students:10.30% For Bank Branch at your place of
9
India for payment of installments. Female Students:9.80% domicile/native place

Above ` 7.5 lakhs: Co-obligation

of the parents/guardians with
tangible collateral security in the
form of suitalble value.

Upto` 4 lakhs: Nil.

` 4 lakhs - ` 7.5 lakhs: Collateral
Security in the form of suitable
third party guarantee. Upto` 7.5 lakhs: 10.00% Above
` 7.5 lakhs:10.80% (For girl
Above ` 7.5 lakhs: Co-obligation students: Interest concession Bank Branch at your place of
10 Bank of India
of Parents together with of 0.5% pa for limits upto domicile/native place
tangible collateral security of Rs.50000/- and 1% for limits
suitable value along with the over Rs.50000/-)
assignment of future income of
the student for payment of
installments.

Page: 3 of 4
 Indicative Security Terms and Rate of Interest for Different Banks (subject to change from time to time)
S No. Name of the Bank Security Interest Rates Contact Numbers
Upto` 4 lakhs: Nil
` 4 lakhs - ` 7.5 lakhs: Collateral
Upto` 7.5 lakhs: 10.70%
in the form of a satisfactory
third party guarantee.
Bank Branch at your place of
11 Bank of Maharastra
domicile/native place
Above ` 7.5 lakhs: value of
collateral security equal to
Above`7.5lakhs:10.20%
amount of loan. Additional 2
guarantors acceptable to Bank
Upto` 7.5 lakhs: Co -obligation
Upto` 7.5 lakhs: 10.45%
of parents
Bank Branch at your place of
12 UCO Bank Above ` 7.5lakh: Co-obligation
domicile/native place
ofparents, tangible security Above ` 7.5 lakhs: 10.85%
equivalent to full value of loan.

Up to ` 4 lakhs: Nil
` 4 lakhs - ` 7.5 lakhs: Third Party
Upto` 7.5 lakhs: 10.45%
Guarantee & Co-obligation Bank Branch at your place of
13 Allahabad Bank
required domicile/native place
Above ` 7.5 lakhs: Tangible
Above ` 7.5 lakhs: 10.30%
Collateral Security 100%

Upto` 4 lakhs: Nil

` 4 lakhs- ` 7. 5 lakhs: Collateral

in the form of satisfactory third
party guarantee.
Bank Branch at your place of
14 Indian Bank Upto` 10 lakhs: 9.10%
domicile/native place
Above ` 7.5 lakhs: Tangible
Collateral security of suitable
value or third party guarantee
along with the assignment of
future income of the student for
payment of installments.

Page: 4 of 4