Course Eligibility:

• The education loan is applicable to specific courses and institutions that are recognized by relevant authorities.

• Eligible courses and institutions will be clearly defined.

Expenses Covered:

• The loan may cover tuition fees, examination fees, library fees, and other educational expenses.

• A detailed breakdown of the expenses covered will be provided.

Moratorium Period:

• The moratorium period allows for a grace period before the commencement of loan repayment.

• Interest accrued during the moratorium may be capitalized or serviced as per the loan agreement.

Interest Subsidy Conditions:

• Conditions, if any, for availing interest subsidies provided by the government or other organizations.

• Eligibility criteria and documentation requirements for interest subsidies will be outlined.

Academic Performance Requirements:

• Maintaining a minimum academic performance may be a condition for continuing the loan disbursement.

• The bank may require periodic academic progress reports.

Co-Borrower and Guarantor Requirements:

• A co-borrower or guarantor, such as a parent or guardian, may be required to support the loan application.

• The co-borrower's financial standing and responsibilities will be clearly defined.

Insurance Mandate:

• The borrower may be required to obtain insurance coverage (e.g., life insurance) for the loan.

• Insurance costs and terms will be provided.

Repayment Commencement Conditions:

• Loan repayment will commence after the moratorium period or upon completion of the course, as specified in the agreement.

• Conditions for repayment commencement will be clearly outlined.

Change in Course or Institution:

• The borrower must inform the bank in case of a change in the selected course or educational institution.

• Approval may be required for such changes, and it may affect the loan terms.

Prepayment Conditions:

• Prepayment of the loan is allowed, subject to applicable charges.

• Prepayment conditions, including notice periods and penalties, will be specified in the loan agreement.

Collateral Release Conditions:

• Conditions for the release of collateral upon successful repayment of the loan.

• The process and conditions for collateral release will be clearly defined.

Interest Rate Variability:

• The interest rate may vary based on changes in market conditions or the borrower's creditworthiness.

• Any adjustments will be communicated in accordance with the terms outlined in the loan agreement.

Employment Commitment:

• The borrower may commit to seeking employment within a certain period after completing the education.

• Failure to do so may impact the loan terms.

Default and Consequences:

• Consequences of loan default, including legal actions and damage to the borrower's credit profile.

• The process and conditions for loan default resolution will be clearly outlined.