Lakshmi Vilas Bank

To meet expenses connected with the pursuit of specific courses of study at recognized institutions, including professional/job-oriented courses, which offer reasonable opportunity for employment & loan repayment capacity on successful completion.

• 1.(a) For Boy Students:
• 2. Loans up to Rs.4.00 lacs: Base Rate + 3.25% (PER: 13.95% p.a.)
• 3. Loans above Rs.4.00 lacs: Base Rate + 4.25% (PER: 14.95% p.a.)
• 4. (b) For Girl Students:
• 5. Loans up to Rs.4.00 lacs: Base Rate + 2.75% (PER: 13.45% p.a.)
• 6. Loans above Rs.4.00 lacs : Base Rate + 3.75%( PER: 14.45% p.a.)

Collateral Security : No

• 1.Up to Rs.4.00 lacs:
• Co-obligation of parents/grandparents. No security. 2.Above Rs.4.00 lacs and up to Rs.7.50 lacs:
• Co-obligation of parents/grandparents together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth/means of parent(s)/ grandparent(s) who would be executing the document as ?joint borrower?. 3.Above Rs.7.50 lacs:
• Co-obligation of parents/grandparents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of instalments.

• a) Studies in India: Regular Degree/Diploma courses like aeronautical, pilot training, shipping, degree/diploma in nursing or any other discipline, approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
• b) Studies abroad: Degree/Diploma courses like aeronautical, pilot training, shipping, etc. provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.
• c) Expenses eligible for finance: Purchase of computer at reasonable cost essential for completion of the course.

Processing Fee :   Nil

Repayment Period :   For loans up to Rs.7.50 lacs: up to 10 years| For loans above Rs.7.50 lacs: up to 15 years

Expenses covered :  

Margin :