Eligibility
The guardian of the applicant should be an income tax payee and he must be able to repay the loan amount. The age of the applicant must be above 18 years and income of his guardian should exceed Rs. 10,000 per month.


Important Documents
Marks sheets of the examinations as required by the bank authorities, Proof of residence, copies of photographs, proof of parent's/guardian's income, along with the admission approval.


Processing period
Within a period of fifteen days.


Maximum amount

	Rs. 1,00,000 (for studies in India)
	Rs. 10,00,000 (for studies abroad)

 
Rate of Interest
If the studies are to be pursued in India, for an amount upto Rs. 4,00,000: 12% p.a. For the amount exceeding Rs. 4,00,000: 16% p.a. Third party guarantee needed.
For loans to be taken for studies abroad, interest rates are same as those mentioned above.

Tenure
5 years.

Repayment
After one year.

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Administrative Office
PB No.2, Salem Road Kathaparai, Vengamedu Post
 Karur - 639 006
Website: www.lvbank.com