JK Bank Education Loan Scheme, Apply Online For Upto Rs. 20.00 Lakhs
The JK Bank Education Loan Scheme is designed to provide financial assistance to Indian students who wish to pursue higher education in India or abroad. To be eligible for the loan, the applicant must be an Indian national and have secured admission to a recognized institution through an entrance test or merit-based selection process after completing their HSC (10 plus 2 or equivalent).
There is no specific age restriction, although the upper age limit is set at 35 years, which can be relaxed on a case-by-case basis. The scheme covers a wide range of courses, including graduate and postgraduate degrees, professional courses in various fields, courses offered by prestigious institutions like IIM, IIT, and IISc, as well as programs conducted by foreign universities and national institutes.
JK Bank Education Loan Scheme Eligibility
- Should be an Indian National
- Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
JK Bank Education Loan Scheme Eligible Courses
- STUDIES IN INDIA(INDICATIVE LIST)
- Approved regular courses leading to Graduate/ Post graduate degree and PG diplomas conducted by Recognized Colleges/ Universities recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
- Professional Courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
- Courses like ICWA, CA, CFA etc.
- Courses conducted by IIM, IIT, IISc, XLRI. NIFT, NID etc.
- Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
- Approved courses offered in India by reputed Foreign Universities.
- Courses offered by National Institutes and other reputed private institutions.
- Studies abroad: –
- Graduation: For job oriented professional/ technical courses offered by reputed Universities.
- Post-Graduation: MCA, MBA, MS, etc.
- Courses conducted by CIMA- London, CPA in USA etc.
- Degree/diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.
- Note: The above list is indicative in nature. Bank may approve other job oriented courses leading to Technical/ Professional Degrees, Post Graduate Degrees/Diplomas offered by Recognized Institutions under this scheme.
JK Bank Education Loan Scheme Interest Rates
| Quantum of loan | Tenor up to 5 years (Fixed Rate of Interest )* | Tenor exceeding 5 years (Floating Rate of Interest ) |
| Up to Rs. 10.00 Lakhs | RLLR + 2.00% | RLLR + 1.50 % |
| Above Rs. 10.00 lakhs and up to Rs. 20.00 lakhs | RLLR + 3.00% | RLLR + 2.25 % |
| Above Rs. 20.00 Lakhs | RLLR + 3.50% | RLLR + 2.75 % |
- Notes:1. *Fixed Interest Rate to be provided for Education Loans of tenure (door to door) up to 5 years only
2. Servicing of interest during study period and the moratorium period till commencement of repayment is optional for students. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Installments (EMI) fixed.
- 3. 1% interest concession shall be provided by the bank for the entire tenure of the loan, if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.
4. Concession of 0.50% on interest rate shall be allowed in case of education loans availed by girl students.
5. Interest Concession of 0.50% on interest rate shall be allowed in case of education loans availed by students pursuing courses from IITs / IIMs and ISB
6. Interest Concessions as listed above are subject to effective interest rate not falling below the floor limit of RLLR+0.50%.
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JK BANK