all about medical
 Date : 10/16/2017 
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The Scheme
The scheme is put into action with a view to make available financial assistance to the needy and deserving students of excellent academic record so as to enable them to continue higher studies in India or abroad either in diploma/graduation or post graduation level in Arts, Science, Commerce, Management, Medicine and Engineering.


Eiligibility
The applicant must be an Indian citizen willing to enrol himself/herself in one of the following courses the teaching of which is imparted in an educational institution recognised by the government, or a . university in India or aborad.


Approved courses
Category-A:
     

 Academic courses such as Diploma, undergraduate/ postgraduate courses in Arts, Science and Commerce etc.

Category-B :

Professional courses such as Diploma, undergraduate/ postgraduate courses in Engineering, Medicine, Dental Science, Agricultural Science, Veterinary Science, Computer Science, Nursing, Pharmacy, Business Administration, Law etc.
 
 


Type of Loan
Term loan. In order to facilitate flexibility in operation, future debits on account of recurring expenses in each semester/year can be made to this account.


Margin
Nil for courses in India and 10% for study abroad.


Loan amount
   

 For study in India: 0.50 lakh to 5.00 lakhs.
 
 For study abroad: 2.00 lakhs to 10.00 lakhs.


Rate of Interest
Upto Rs. 2 lakhs: PLR + IT. Above Rs. 2 lakhs. Upto and including Rs. 5 lakhs: PLR + 1 + IT. Above Rs. 5 lakhs and upto and including Rs. 10 lakhs: PLR + 2 + IT.


Repayment
Within one year after the completion of the course, or after the student gets a job, whichever is earlier.


Maximum period for the course completion:
6 years

Maximum period for repayment after the course is completed: 5 years. Therefore, maximum period for which the loan is granted is 11 years and the minimum period is 3 years.


Website: www.federal-bank.com


 

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