Education Loan Facility

Education Loan Facility for Students

The scheme aims at providing financial assistance to deserving/meritorious students for pursing professional and technical education is IIMT: especially in Engineering.

Who is Eligible to apply

• Should be an Indian National.
• Should have secured admission to a higher education course in IIMT.
• Should have admission through entrance test/merit based selection process after 10+2 or equivalent.
  Or
  If admission is purely based on marks,he should have scored in qualifying examination a minimum of 60%.

Check List

• Passport size coloured photographs-5.
• Address proof.
• Age proof.
• Proof of having cleared last qualifying examination.
• Letter of admission.
• Fee structure.
• Details of assets & liabilities parents/guarantors.
• Copy of PAN of borrower students and their parents.

Remarks : No security required upto a loan of Rs. 4 Lakh.

Repayment

Repayment of loan will be in EMIs-Spread in 10 years or less for loan upto Rs. 7.5 Lakh.

Moritorium Period

Course period +1 year or 6 months after getting job,whichever is earlier.

Additional Benefits of Education Loan

• Simple interest is charged during the study period + moritorium period.
• A rebate of .50% in rate of interest to girls.
• 1% interest concession for loanes, if interest is serviced during study period.
• Full interest subsidy is provided during the moratorium period to students who have taken education loan & belong to economically weaker section;(parents annual income less than Rs. 4.5 Lakh)

NOTE : No Prepayment penalty is levied for payment of loan.

For Further Enquiry Contact Us

Professor :Samrat Singh
Mobile :9927880099
Email :director.iimtsre@gmail.com