Only you can shape your future. So if you feel that further studies are essential to fulfill your aspirations and ambitions, Merchants Bank is your passport to a brighter future.
The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.
The salient features of the Education Laon are as under:-
- Financing of up to 100% of the cost of your studies comprising also of travel, accommodation and daily expenses.
- Simple procedure, minimal documentation and quick approval.
- Attractive interest rates as from 13% (PLR)
- Loan amount as from Rs 100,000
- Loan period: Up to 20 Years
- Photo Identity & Residence Proof of the Applicant & Guarantor
- Income proof a) or b) as applicable
- a)Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years
- b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
- Proof of confirmed admission
- Estimate of course fees & other expense (traveling /lodging /boarding)
- Fee receipts or proof of payments made.
Terms And Conditions:-
- Other courses leading to Diploma/ Degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc
- Two Guarantors are mandatory.
- The rates are subject to change from time to time
- To qualify for a Education Loan, you must be aged 18 or over and Nationality should be Indian