Federal Bank Ltd, Educational Loans
Initiated with a minimum capital of Rs. 5000/-, Federal Bank was founded by Kulangara Paulo Hormis. Among the various financial services provided by the bank, it offers education loans to meritorious students aspiring to pursue their higher education. These loans are in two different categories namely Federal Vidya Loan and Federal Special Vidya Loan.
Indian nationals students should get admission to various professional or technical courses through merit based selection process or entrance examination.
Courses Eligible for Federal Bank Ltd, Educational Loans
There are various undergraduate and postgraduate courses which are eligible for Federal Bank student loan. The courses should be offered by reputed institutions affiliated to universities and government statutory bodies.
Quantum of Loan
Under the scheme of Federal Vidya Loan, the maximum amount iss Rs. 25 lacs.
Under the second category of loan, Federal Special Vidya Loan, the maximum amount of education loan available is Rs. 7.5 lacs for students studying in India and Rs. 15 lacs for students willing to study in abroad.
Repayment of Federal Bank Ltd, Educational Loan
Scheme of Federal Vidya Loan provides eleven years for the repayment of loan. Under Federal Special Vidya Loan, maximum repayment period of five to seven years is available.
Securities such as co-obligant or collateral security are to be offered against the loan amount taken.
In order to collect more information on Federal Bank Ltd, Educational Loans including its interest rates, browse through Federal Bank