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 Tamilnad Mercantile Bank Ltd - India (for Education Loan) |
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Bank Name: |
Tamilnad Mercantile Bank |
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Study In: |
India |
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Type of Courses Eligible: |
CA,Commercial Pilot,Diploma/ Degree courses,Graduation courses,LLB,MBA,MBBS,Others,Post Graduation courses |
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Cost Covered: |
Fee payable to college/ school/ hostel, examination/ library/ laboratory fee, purchase of books/ equipments/ instruments/ uniforms, Caution deposit/ building fund / refundable deposit supported by institution bills/ receipts, purchase of computers, any other expense required to complete the course - like study tours , project work, thesis |
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Moratorium Period: |
Course Period + 6 months after completion of the course |
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Interest Rate Type: |
Floating |
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Interest Rate: |
14.75 |
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Processing Fee: |
0.50% of the loan amount |
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Prepayment Charges: |
Nil |
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Collateral Description: |
upto Rs 4 lakh- no security,
above Rs 4 lakh upto Rs 7.5 lakh- suitable third party guarantee,
above Rs 7.5 lakh- 100% collateral in any form of immovable property/ NSC/ Units of UTI/ LIC policy/ RBI Bonds or any transferable Government securities |
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Guarantor Description: |
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Margin: |
5% |
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