Educational Loan Tie – Ups
Following are some of the premier banks of the country providing educational loans for our students. Click on any preferred banks mentioned below for further details.
The Educational Loan Scheme by the Govt. of India aims at providing financial support from the banking system to deserving students for pursuing higher education in India. The main emphasis is that every deserving student, though poor, is provided with an opportunity to pursue education with the financial support from the banking system. RBI mandates all commercial banks in the country to offer attractive education loans for students.
Expenses considered for loan:
- Fee payable to college / hostel.
- Purchase of books/ equipments/ instruments/ uniforms.
- Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
- Purchase of computers – essential for completion of the course.
- Any other expense required to complete the course – like study tours, project work, thesis, etc.
Up to Rs. 4 lakh: No security is required.
Repayment period after: Course period + 1 year or 6 months after getting job, whichever is earlier
For the benefit of prospective students at MITCON, we have tied up with premier banks as follows.
1. Bank Of Maharashtra
2. State Bank of India
3. IDBI Bank
4. Central Bank of India
5. PNB’s Education Loan Scheme – Vidyalakshyapurti
6. Bank of Baroda
All these banks provide following benefits to students applying for MITCON.
- Cover all courses of MITCON
- Include entire fees heads end to end
- Concessional rate of interest
- Speedy disposal of loan applications
- Availability of the loan across the country
Illustrative list of papers / documents required for education loan:
- 2 Passport size photos – Applicant/co- applicant
- Photo ID – Applicant / co-applicant
- Permanent Residence Proof – Applicant/co- applicant
- Date of Birth Proof – Applicant/co- applicant
- PAN No of Co- applicant
- Signature Verification – Applicant/co- applicant
- Academic documents of Applicant (proof of having secured pass marks in last qualifying Examination) + Test score documents, if any
- Proof of admission
- Copy of fee receipts already paid
- Cost of education & fee structure from the college
- Last one year bank statements/bank pass book of applicant/co-applicant
- Income proof of co-applicant
- If any other loan taken by applicant or co-applicant, then provide statement of accounts for all the loans taken
- Any document for establishing the relationship between the applicant and co-applicant
For further queries related to education loan, contact