Gift to shareholders of the Bank will be disbursed between 10/11/2011 and 05/12/2011 from bank's Ayojannagar Branch premises

EDUCATION LOANS
PURPOSE : FOR HIGHER EDUCATION OF BRIGHT STUDENTS IN INDIA OR ABROAD
LOAN AMOUNT :

Rs. 10.00 LACS (MAXIMUM FOR EDUCATION IN INDIA)
Rs. 20.00 LACS (MAXIMUM FOR EDUCATION ABROAD)
(DEPENDING UPON STUDY EXPENSES, GUARDIAN’S INCOME,
GUARANTEE, VALUE OF SECURITY ETC.)

RATE OF INTEREST : 10.00% P.A.*
PERIOD OF LOAN : STUDY PERIOD PLUS ONE YEAR MORATORIUM AND THERE AFTER REPAYMENT BY EMI. TOTAL LOAN PERIOD NOT TO EXCEED 7 YEARS. (DURING MORATORIUM MONTHLY INTEREST TO BE PAID)
* Interest rate subject to change at the discretion of the Bank

 

GENERAL RULES/REGULATIONS OF THE BANK

  • » For loans above r 1.00 lac, bank’s shares as per rbi directive, will have to be puchased by the applicant. At present @ 2.5% of the sanctioned loan amount.
  • » Rate of interest is subject to change as decided by the board of directors from time to time.
  • » Applicant will submit the loan application in the bank’s prescribed forms along with all the required papers / documents.
  • » (a) No pre-payment/fore closure charges as per present rules of the bank.

    (b) No change in interest rates on the sanctioned term loan during the entire currency of the loan.

    (c) Interest will be calculated and applied on the last day of the month.

    (d) No processing fee will be charged.

  • » Bank reserves the right to sanction/decline the loan application.
  • » Bank reserves the right to revise any of the terms of any of the loan schemes.

 

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