Loan can be availed upto ₹20.00 Lakh for studies in abroad and upto ₹10.00 Lakhs for Studies in India
No security required upto Rs. 4.00 Lakhs
Features and Benefits
Take care of your finances for getting educated in your dream institute with a TMB Education loan.
Loan can be availed upto ₹20.00 Lakh for studies in abroad and upto ₹10.00 Lakhs for Studies in India.
(Higher quantum of loan is based on course to course basis e.g. courses in IIMs, ISB etc shall be considered. Studies in India qualifies for interest subsidy under central sector interest subsidy scheme upto Rs.7.50 Lakh).
Eligibility and Terms
A. Studies in India
Courses as initiated under various Government Subsidy Schemes
Approved courses leading to graduate / post graduate degree and PG diplomas conducted by recognized colleges / universities recognized by UGC / Government / AICTE / AIBMS /ICMR etc.
Courses like ICWA, CA, CFA etc.,
Courses conducted by IIMs, IITs, IISC, XLRI, NIFT etc.
Regular Degree / Diploma courses like Aeronautical, pilot training, shipping, 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.
Approved Courses offered in India by Reputed Foreign Universities.
B. Studies Abroad
Courses as defined under various Government Subsidy Schemes.
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
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.
Margin :Upto Rs.4.00 lakh - Nil
Above Rs.4.00 lakh - Study in India – 5%
Study in Abroad – 15%
Above Rs.7.50 Lakh – 20%
However, upto Rs. 7.5 lakh, margin will be ‘Nil”, if loan is eligible under Credit Guarantee Scheme.
Holiday Period - Course Period + 1 Year after getting job whichever is earlier.
Maximum Repayment Period of Loan; Equated monthly instalments for a period of 15 years for all categories (excluding course and moratorium period).
Upto Rs.4 Lakh - No security
Above Rs.4 lakhs and upto Rs.7.50 lakh - Parent(s) / guardian(s) to be joint borrower(s) along with suitable third-party guarantee.