Student loan

Guidelines for Education Loans

Education Loans are disbursed by Banks as per Model Education Loan Scheme of Indian Bank Association (IBA). Reserve Bank of India (RBI) has deregulated the interest rates charged by Banks, linking up with their base rates. The interest rate on education loan accordingly varies depending upon the base rate and the quantum of loan. The… Read More

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Govt Clarifications on Repayment of Outstanding Balance on Stocks and Loans

The outstanding balance of 9.00% loan 2013 and 9.81% Government Stock, 2013 are due for repayment on May 24, 2013 and May 30, 2013 respectively. No interest will accrue there on from the said dates. In the event of a holiday being declared on May 24, 2013 and/ or on May 30, 2013 by any State Government… Read More

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CLR Snippets | Insurance for Education Loan

Education loans are extended as per Model Educational Loan Scheme of Indian Banks™ Association (IBA), as adopted by the Banks.  As per the Model Scheme, scheduled banks may, with the consent of the student, arrange for life insurance policy of the student availing Education Loan. In case of death of the student, loan amount outstanding… Read More

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No Proposal for Waiving off Education Loan for Students without jobs

At present, there is no proposal under the consideration of the Government to waive off the education loans sanctioned to the students who could not get a job after completing their studies. The Government had in the Budget 2012-13 announced setting up of a Credit Guarantee Fund for Education Loans to ensure better flow of… Read More

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