Education Loan (EDU) Eligibility Condition - General
Any Member can apply for Loan.
Total of the Term Loans granted to a member shall not exceed 50 times of his Paid up Share Capital OR 25 times of his Gross Salary OR Rs.20,00,000/- whichever is less.
The Loanee's take-home pay should not fall below 30% of his Net Salary.

EDUCATION LOAN will be granted for the following Classes/Courses:
A.  L P, U P, High School studies
B.  Higher Secondary, Degree, PG Courses
C.  Higher Education Loan For Professional Courses

Loan Amount:
L.P, U.P, High School :  Rs.12,000/- can be granted to 1 child of the member.

Higher Secondary, Degree, PG:  Rs.15,000/- can be granted to 1 child of the member.

Higher Education Loan:
An amount of Rs.2,00,000/- can be granted to the member himself OR to the ward of a member to pursue higher studies like Medicine, Engineering, MBA, MCA, LLM, CA, ICWA, Nursing, Company Secretary Course etc.

Period of Loan
L.P, U.P, High School                      :   10 Months.
Higher Secondary, Degree, PG   :    10 Months. 
High Education Loan                    :     60 months.

Interest Rate
At present the interest rate charged is 10% on diminishing balance.
Society reserves the right to change the interest rate from time to time.

Suerties
There should be a minimum of Two Sureties. 
Attested copy of Receipt OR Estimate issued by the Educational Institution is also required.

Recovery Mode
The recovery of Principal plus Interest, i.e., ''per month instalment'' is done from the Salary.

Foreclosure
The foreclosure of the loan can be made at any time by way of Cheque OR Demand Draft.
No foreclosure charges are levied.