Gyan Jyothi Education Loan
The scheme provides financial assistance to deserving students to undertake basic education and to the meritorious students to pursue higher professional / technical education in India and abroad.
 

Purpose
	Fee payable to college/ school/ hostel.
	Examination/ Library/ Laboratory fee.
	Purchase of books/ equipment’s/ instruments/ uniforms.
	Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipt.
	Travel expenses/ passage money for studies abroad.
	Purchase of computers-essential for completion of the course.
	Any other expenses required to complete the course- like study tours, project work, thesis etc.

Courses Eligible
»	Studies in India
		School education including plus 2 stage.
		Graduation courses: BA, B.Com., B.Sc., etc.
		Post Graduation courses: Masters & Ph.D.
		Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
		Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
		Courses like ICWA, CA,CFA, etc.
		Courses like IIM, IIT, IISc, XLRI, NIFT, etc.
		Courses offered in India by reputed foreign universities.
		Evening courses of approved institutes.
		Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ICMR etc.
		Courses offered by National Institutes and other reputed private institutions . Banks may have the system of appraising other institution courses depending on future prospects/recognition by user 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.

Persons Eligible
	The student should be an Indian National.
	Have secured admission to professional\technical courses through entrance test\selection process
	Have secured admission to foreign university institution.
	No minimum mark in the qualifying examination is stipulated.

Borrower
	Student and parent\guardian jointly.
	In the case of employed students\professionals, loans can be granted in individual names, with suitable guarantee.

Loan Amount
	For studies in India Rs. 10 lacs.
	For studies abroad Rs. 15 lacs

Margin
	Upto Rs. 4 lacs	Nil
	Above Rs.4 lacs	Studies in India - 5%
		Studies abroad -15%

Repayment
	To commence 1 year after completion of course or 6 months after getting job, whichever is earlier.
	The loan is to be repaid in 5-7 years after commencement of repayment.

Security
	For loans above Rs.4 lacs collateral security equal to the loan amount or co-obligation of parents\guardian\third party along with assignment of future income of the student for payment of installments may be obtained.
	Security can be in the form of land\building\ Govt. securities\public sector bonds\units of UTI, KVP, LIC Policy, gold, shares\debentures, bank deposit in the name of student\parent\guardian or any other third party with suitable margin.

Processing Fee
	No processing fee.
Papers to be submitted to the Bank
	Two copies of passport size photographs.
	Testimonials in original form from the head of the institution and from one or two other respectable persons not related to the student.
	Proof of admission to the course.
	Schedule of expenses for the course.
	Copies of foreign exchange permit (if applicable)
	Copy of salary slip \ statement of income of parent \guardian.
For Mortgage of Property
	Original and prior title deeds.
	Latest tax receipts.
	Possession certificate.
	Encumbrance certificate for the last 15 years from the Sub Registrar.
	Title clear certificate from the banks approved advocate.
	Valuation report from the banks approved valuator.

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.

Head Office
New Administrative Complex, Poojapura
Thiruvananthapuram - 695 012
Gen: 0471-341244 Ex. 2776, Fax: 0471-341877
E-Mail: md@sbt.co.in
Website: www.statebankoftravancore.com