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Indian Bank Students Personal loan
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- Indian Bank Personal Loan of 9 lakh
- Indian Bank Personal Loan of 10 lakh
Indian Bank, which recently completed a merger with Allahabad Bank, is one of the nationalised banks in India. The Bank provides financial assistance to diverse sections of society to meet various fund needs. Indian Bank understands students' needs, and the bank ensures financial support to the students in need through the Indian Bank Student Personal Loan under the IB Education Loan scheme. With eligibility extending to a wide array of courses in India and abroad, including prestigious institutions and professional courses, the scheme ensures accessibility to education financing. Flexible repayment options, including a moratorium period and the choice to service interest during study periods, provide students with financial flexibility.
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Table of Content
Indian Bank Lakh Personal Loan for Students – Highlights
The highlights and special features of the Indian Bank Student Personal Loan are given below.
Interest Rate | 8.80% to 11.40% |
---|---|
Maximum Loan Amount | Up to Rs. 1 lakh |
Maximum Loan Tenure | Upto 180 EMIs |
Compare Students Loan from other Banks
Below is the table describing student loan offerings from other banks for comparison with Indian Bank Student Personal Loan
Lender | Interest Rate | Loan Tenure |
State Bank of India | 11.15% onwards | Up to 15 years |
HDFC Bank | 9.50% onwards | Up to 15 years |
Punjab National Bank | 10.40% onwards | Up to 10 years |
Bank of Baroda | 9.70% to 11.15% p.a. | Up to 15 years |
Indian Bank Personal Loan for Students – Fees and Charges
There are related charges and fees at the time of availing of the Indian Bank Student Personal Loan
Fee/Charge | Amount |
Processing Fee | Upto ₹10 lakhs: Nil Above ₹10 lakhs: 0.15% of the loan amount |
Indian Bank Student Personal Loan – Documents Required
Listed below are the documents required while the application is to be submitted for the Indian Bank Student Personal Loan
- Proof of Identity and Address: Valid government-issued ID cards such as Aadhaar Card, Passport, Voter ID Card, or Driving License.
- Academic Records: Documents verifying educational qualifications, including certificates or mark sheets from previous academic institutions.
- Admission Offer Letter: Official admission letter from the educational institution confirming enrollment in the desired course.
- Statement of Cost of Study/Schedule of Expenses: This is a detailed breakdown of tuition fees, accommodation charges, and other related expenses for the duration of the course.
- Passport-sized Photographs: Recent passport-sized photographs of the applicant(s).
- Proof of Existing Loans (if any): Documents about previous or existing loans, if applicable.
- Passport (for Studies Abroad): Mandatory passport submission for students pursuing studies abroad.
- Permanent Account Number (PAN): The PAN card must be submitted along with the application or before the first disbursement.
- Email Address and Social Media Details: For future communication, contact information, including email address and social media profiles.
Documents Required for Co-applicants/Guarantors
The following documents are required for co-applicants for an Indian Bank Student Education Loan.
- Proof of Identity and Address: Co-applicants/guarantors, like students, are required to have valid government-issued ID cards.
- Passport-sized Photographs: Recent passport-sized photographs of co-applicants/guarantors.
- Proof of Existing Loans (if any): Documents about previous or existing loans, if applicable.
- Permanent Account Number (PAN): Mandatory submission of PAN card.
- Any Other Specified Documents: Additional documents specified by the bank or financial institution.
Security Requirements
- Primary Security: Assignment of the future income of the student borrower and joint/co-borrowership of parent(s)/guardian(s)/spouse.
- Collateral Security: Depending on the loan category, collateral security may be required in land, buildings, securities, or gold jewellery.
Indian Bank Personal Loan for Students – Eligibility Criteria
The details below will help you understand the eligibility criteria for the Indian Bank Student Personal Loan.
- Indian nationals and Non-Resident Indians (NRIs) are eligible.
- Recognised courses in India and abroad approved by regulatory bodies such as UGC, AICTE, etc.
- Admission through a merit-based selection process or entrance test conducted by recognised institutions.
- Applicants must meet the minimum age requirement of 18 years.
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Personal Loan Calculators
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Bank wise Personal Loan Calculators
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Bank Wise Personal Loan Interest Rate
- RBL Bank Personal Loan Interest Rate
- DCB Bank Personal Loan Interest Rate
- karnataka bank Personal Loan Interest Rate
- Reliance Capital Personal Loan Interest Rate
- Federal Bank Personal Loan Interest Rate
- IDBI Bank Personal Loan Interest Rate
- karur Vysya Bank Personal Loan Interest Rate
- IDFC FIRST Bank Personal Loan Interest Rate
- YES Bank Personal Loan Interest Rate
- Kotak Bank Personal Loan Interest Rate
- ICICI Bank Personal Loan Interest Rate
- CITI Bank Personal Loan Interest Rate
- Deutsche Bank Personal Loan Interest Rate
- HDFC Bank Personal Loan Interest Rate
- HDFC Sales Personal Loan Interest Rate
- Axis Bank Personal Loan Interest Rate
- IndusInd Bank Personal Loan Interest Rate
- HSBC Personal Loan Interest Rate
- Union Bank of India Personal Loan Interest Rate
- Punjab & Sind Bank Personal Loan Interest Rate
- State Bank of India Personal Loan Interest Rate
- Indian bank Personal Loan Interest Rate
- Canara Bank Personal Loan Interest Rate
- Punjab National Bank Personal Loan Interest Rate
- Bank of Baroda Personal Loan Interest Rate
- Bank of India Personal Loan Interest Rate
- Bank of Maharashtra Personal Loan Interest Rate
- CASHe Personal Loan Interest Rate
- Prefr Personal Loan Interest Rate
- Tata Capital Financial Services LTD Personal Loan Interest Rate
- Ujjivan Small Finance Bank Personal Loan Interest Rate
- Edelweiss Financial Services Personal Loan Interest Rate
- PaySense Personal Loan Interest Rate
- MoneyWide Personal Loan Interest Rate
- Clix Capital Personal Loan Interest Rate
- Muthoot Finance Ltd Personal Loan Interest Rate
- InCred Financial Services Personal Loan Interest Rate
- IndiaBulls Personal Loan Interest Rate
- DHFL Personal Loan Interest Rate
- IIFL Finance Personal Loan Interest Rate
- FT Cash Personal Loan Interest Rate
- Shriram Urban Co Operative Bank Limited Personal Loan Interest Rate
- Fullerton India Personal Loan Interest Rate
- L&T Finance Personal Loan Interest Rate
- Bajaj Finserv Personal Loan Interest Rate
- Loantap Credit Products Private Limited Personal Loan Interest Rate
- AU Small Finance Bank Personal Loan Interest Rate
- Tata Capital Housing Finance Limited Personal Loan Interest Rate
- Capital First Ltd. Personal Loan Interest Rate
- Aditya Birla Finance Limited Personal Loan Interest Rate
- Poonawalla Fincorp Limited Personal Loan Interest Rate
- Privo Personal Loan Interest Rate
- Hero FinCorp Personal Loan Interest Rate