To extend financial assistance to deserving meritorious students for pursuing higher education in India & abroad.
ELIGIBILITY
Should be an Indian National.
Secured admission to professional/technical courses in India or abroad through Entrance Test/Selection process.
Secured admission to foreign university / institutions.
LOAN AMOUNT
Need based finance subject to repaying capacity of parents / students.
Studies in India: Max. Rs. 10.00 lacs
Studies Abroad: Max. Rs.20.00 lacs
MARGIN
Up to Rs. 4 lacs : Nil
Above Rs.4 lacs :
Studies in India : 5%
Studies Abroad : 15%
INTEREST RATE CLICK HERE
LOAN AGAINST MORTGAGE OF IMMOVABLE PROPERTY
PURPOSE
General purpose loan/Line of credit
ELIGIBILITY
Individuals who are
Employees
Professionals, self-employed and others who are income tax assessees.
Engaged in agriculture and allied activities.
INCOME
Minimum Net Monthly Income Rs.12000/- for salaried persons or Net Annual Income of Rs.150000/- in case of others & self employed.
AGE LIMIT
Maximum – 60 years.
LOAN AMOUNT
Minimum – 1,00,000/-
Maximum – 24 times Net Monthly Income or 2 times Net Annual Income subject to a ceiling of Rs. 50 lacs.
SECURITY
Mortgage of property.
MARGIN
40% of the market value of the property.
REPAYMENT
Maximum – 60 months.
INTEREST CLICK HERE
PREPAYMENT
No prepayment penalty.
for more details, please visit http://www.indorebank.org/
