Educational Loan
The Panchmahal District Co-Operative Bank Ltd. offers educational loans to students pursuing higher studies. Here are some of the key details regarding their educational loan product:
Purpose:
The loan is provided to support students for higher studies, specifically in the faculties of Medical, Engineering, and IT.
Key Features:
- Maximum Loan Amount: Up to ₹10 Lakhs.
- Max. Term : 10 Years
- Available At Attractive Fixed & Floating
Eligibility:
- Academic Requirement: Students must have secured 60% or above marks in their 12th standard.
- Course & Institution: The loan is for professional or technical courses in India or abroad, provided the student has secured admission through an entrance exam or merit-based selection.
Interest Rate:
The interest rates for education loans are differentiated based on the gender of the student:
- For a male student: The rate is 11%.
- For a female student: The rate is 10.5%.
Required Documents:
It is likely that a co-applicant (parent, guardian, or spouse) and Students Documents will be required.
- Duly filled loan application form.
- Passport-sized photographs of the applicant and co-applicant.
- Photo identity proof (Aadhaar Card, Passport, Voter ID, Driving License).
- Residence proof (Utility bills, Aadhaar Card, Passport).
- Academic records (mark sheets and certificates).
- Proof of admission (admission letter from the educational institution).
- Schedule of expenses for the course.
- Bank account statements of the borrower/co-borrower.
- Income proof of the co-borrower (salary slips, income tax returns, etc.).
How to Apply ?
- Visit a branch of The Panchmahal District Co-Operative Bank Ltd.
- Obtain the educational loan application form.
- Submit the filled application along with the required documents.
Education Loan Interest Rates
