At Namco Bank, we understand the importance of education in shaping a bright future. Our Educational Loan program is designed to support aspiring students in their pursuit of academic excellence. Whether you are aiming for higher studies in India or abroad, we are here to ease the financial burden and make your dreams achievable.
| Product Code | Minimum Loan Limit | Maximum Loan Limit | Tenuer / Loan Period | Rate Of Interest | Processing Fees | Others |
|---|---|---|---|---|---|---|
| EDUCATION LOAN( NAMCO VIDYA SADHANA) | Up to 5 Lakh (No collateral required) | 50 Lakh<br>indian education-max 20 lakh.(Priority)<br>above Rs.20 lakh to Rs.50 lakh(Non-priority).<br>Abroad Education-max 20 lakh.(Priority)<br>above Rs.20 lakh to Rs.50 lakh(Non-priority) | 5 To 15 Yr | <b>A. Degree and Diploma study:</b><br><b>Indian Education: </b><br>For girls-9.00%<br>For boys-9.00%<br>MARGIN:15%<br>moratorium Period :1 Yr<br><b>Abroad education:</b>-<br>For girls-9.25%<br>For boys-9.50%<br>Margin:10%<br>moratorium Period :1 Yr<br><b>B. vocational course/skill development course:</b><br>For girls-9.00%<br>For boys-9.50%<br>Margin:10%<br>moratorium Period :6 months. | up to 5 Lakh Rs.2000/-<br>Above 5 Lakh 0.25% or Rs.15,000/- (Whichever is less) with G.S.T.<br>presaction fee- Rs.2000/- | Shares-@0.50% sanction amt or 5000 whichever is less. <br>Insurance -As per Bank rule.(T & C Apply.) |
| 1) - K.Y.C. |
| 2) - College Admission Letter, bonafide Certificate, fee structure,10th 12th Mark Sheet, Passing Certificate of Degree entrance test ,UNIVERSITY RANKING SHEET. Passport.(if applicable). |
| 3) parents and guarantor document - KYC,for businessman-business proof, Last 3 yr ITR& financial document (CA Certified), Bank statement(last 6 months). |
| 4) Salaried Emp - ID Card, Appointment Letter, confirmation letter. Salary slip,form-16A& ITR, Salary account statement.(T & C Apply). |