Karnataka Gramin Bank Education Loan

1. For courses abroad, the interest rates are 10.25% onwards 

Eligibility Criteria for Karnataka Gramin Bank Education Loan

To avail an education loan from Karnataka Gramin Bank, the student must fulfill the following eligibility criteria: 

1. The student is required to be an Indian National 

1. Mandatory completion of Higher Secondary Certificate (HSC) 

1. The student should have secured an admission on the basis of CET, GRE, G-MAT, CAT, or other entrance exams 

1. Students who have secured a direct admission, without an entrance test, should have scored a minimum of 60% in their prior qualification. 

Quantum of Finance 

The maximum loan amount offered by Karnataka Gramin Bank for various courses in India as well as in abroad are as follows: 

1. Students taking up courses in India, the bank offers maximum loan amount of  

Rs.10 lakh 

1. Students taking up courses abroad, the bank offers maximum loan amount of Rs.100 lakh 

Required Security for Courses in India  

Education loans in Karnataka Gramin Bank are granted jointly to the student and parent/guardian. The required security to avail an education loan is listed below: 

Required Security for Courses Abroad

For students looking to avail education loan for pursuing courses abroad, the bank also offers loan amount above Rs.20 lakh. The required security are as follows: 

1. Marketable collateral security equal to 150% of the loan amount 

1. Co-obligation of third-party who has the net worth equal to the loan amount 

Repayment Tenure 

The repayment period for various loan amounts taken by students pursuing courses either in India or abroad are as follows:  

1. For loans upto Rs.7.5 lakh, the maximum repayment period is 10 years 

1. For loans above Rs.7.5 lakh, the maximum repayment period is 15 years 

Loan Margin Details (Karnataka Gramin Bank)

The required margin to avail an education loan are as follows: 

1. The margin amount for a loan upto Rs.4 lakh is nil 

1. For loans above Rs.4 lakh, the required margin amount for courses in India is 5% and for courses abroad is 15% 

1. Students eligible for any scholarship/assistanceship will also be included within the required margin 

1. The bank also offers margin on year-to-year basis, where one can avail loan disbursements on pro-rata basis 

Eligible and Non-eligible Courses for Availing an Education Loan

The Karnataka Gramin Bank offers an educational loan for selective courses. A student can apply for a loan only if they plan to pursue the courses listed under their eligible courses criteria.  The list of eligible and non-eligible courses are as follows:  

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