Jammu and Kashmir Bank Education Loan Rate of Interest
J&K bank offers education for B.ED and M.ED for maximum loan amount upto Rs. 25,000
- Margin charged by bank is 10%
- Maximum Loan Limit is 25,000
- Maximum repayment loan period is in 12 equal monthly installments
Rate of Interest charge by the bank depends on the base rate set by J&K Bank as per the guidelines set by RBI
- Rate of Interest charge by the bank depends on the base rate set by J&K Bank as per the guidelines set by RBI
- The base rate is 9.50%
CALCULATE YOUR EDUCATION LOAN EMI
1,000 per month
1,000
1,000
Looking for admission for India and Abroad?
Jammu and Kashmir Bank Education Loan Eligibility
- Indian National. Borrower must be an Indian National
- 10+2 pass. 10+2 qualified with minimum aggregate marks
- Qualification. Graduate in any discipline from recognized institute
- Admission Basis. Admission to B.Ed. or M.Ed. course
- Loan application. Loan application should be forwarded by college/institute principle
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| Bank / Financer |  Change bank |  Change bank |  Change bank |  Change bank |  Change bank |
| Applicable Rate of Interest | Rate of Interest charge by the bank depends on the base rate set by J&K Bank as per the guidelines set by RBI | Up to INR 7.50 Lacs: 10.55% Above INR 7.50 Lacs: 10.80% | up to INR 7.5 Lacs: MCLR + 2.00% above INR 7.5 Lacs: 2.60% | Upto 4 Lacs- 16.50% Upto 7.5 Lacs- 17.50% Above 7.5 Lacs- 15.50% | |
| Max Loan with Collateral | INR 25,000 | For India: 10 Lacs For Abroad: 20 Lacs | For India: 10 Lacs For Abroad: 20 Lacs | For India: 10 Lacs For Abroad: 20 Lacs and beyond based requirement | |
| Max loan without collateral | INR 25,000 | For India: 10 Lacs For Abroad: 20 Lacs | For India: 10 Lacs For Abroad: 20 Lacs | For India: 10 Lacs For Abroad: 20 Lacs and beyond based requirement | |
| Processing Fee | 0.05% | Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000 | Nil | Nil | |
| Repayment Period | 12 equal monthly instalments | 15 years | 15 years | 7 years | |
| Loan for top institutions | No | Yes, SBI Scholar Loan Scheme | Yes, PNB Pratibha | No | |
| Margin | 10% | For loan above INR 4 Lacs In India: 5% In abroad: 15% | Up to INR 4 Lacs - NIL Above INR 4 Lacs - 5% | Upto loan 4 Lacs: No margin Above 4 Lacs: for India: 5% for Abroad: 15% | |
| Age Limit | No age criteria | no age limit | No age limit | No | |
| Loan Security | Third party guarantee | Upto 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee Above INR 7.50 Lacs: Tangible security along with parents as co borrower | Upto INR 7.50 Lacs: Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required. Above INR 7.50 Lacs: Parent(s)/guardian be joint borrower(s). Tangible collateral security of suitable value acceptable to bank. | Third party guarantee Collateral security Additionally, assignment of LIC policy in favor of bank amounting 100% of education loan amount Assignment of Future salaries in favor of Axis Bank | |
| Eligibility concession for SC/ST | No | No | 50% for SC/ST, and;60% for General category. | No | |
| Processing Time | N.A | 20 days | 15 days | 14 Days | |
| Prepayment charges | Nil | Nil | Nil | Nil | |
| Penal charges | Nil | Penal interest @ 2% to be charged for loans above Rs.4 lacs for the overdue amount and overdue period | Nil | @ 2% per month on the overdue installment/s | |
| Mandatory insurance cover | Yes | Yes | yes | yes | |
| Travel expeneses | Yes | yes | yes | yes | |
| Bank transfter allowance | No such clause mention | available | available | No such clause mentioned | |
| Top up loan availability | Unavailable | yes | available | unavailable | |
| Interest Subsidy Schemes | CSIS Skill Loan Scheme Padho Pradesh | Padho Pardesh CSIS Skill Loan Scheme | Padho Pardesh CSIS Skill Loan Scheme | CSIS | |
| Tax benifit | Yes | yes | yes | yes | |
| Concession/benefits | 0.50% concession to girl students 1% concession if interest is serviced during moratorium period | Concession to girl students 1% concession if interest is serviced during moratorium period including course period | 0.5% concession to girl students 0.5% concession if interest is serviced during moratorium period including course period Online application | There is no processing fee charged No pre- payment charges are applied No pre- closure charges are applied Loan Disbursal period is 15 working days from the date of final submission of documents |
How to apply for Jammu and Kashmir Bank Education Loan ?
Jammu and Kashmir Bank Education loan application form can be available online or offline at Bank branches.
Visit the official website of J&K Bank
Click on Apply Now
Fill up the form with all the necessary details
Submit the Form
Take the print out of application form
After that visit the Bank's Branch for the further proceedings
Applicants can directly visit the nearest branch and ask for an application form. The bank representative will then guide you with all the necessary information regarding eligibility, documents required and also which loan is best suitable.
Jammu and Kashmir Bank Education Loan Details
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Expenses covered under Jammu and Kashmir Bank Student Loan Scheme
- Admission fee
- Tuition fee
- Examination fee
- Hostel fee
- Library/ Lab fee
Courses Covered Under Jammu and Kashmir Bank Student Loan Scheme
In India
For B.Ed. and M.Ed. courses aspiring to pursue from any reputed institute in India.
Education Loan Documents Required ?
Admission letter with all essential details
Attested copies of age proof, residence proof and birth date
Self-attested passport size photograph of applicant, co-applicant, and guarantor
Copies of last qualifying courses
Income proof and/or copy of income tax return file of co-applicant, parents, and guarantor (if any).
Interest Subsidy Schemes
Skill Loan Scheme
The facility of skill loan scheme is opted by J&K bank to provide financial assistance to students intending to pursue skill development courses.
Frequently Asked Questions
What schemes does J&K Bank considers for its education loans?
+ -In whose name is the loan granted?
+ -Is the loan contract executed only in student's name?
+ -What is the age limit for availing loan in J&K Bank?
+ -Are minors eligible to apply for J&K Bank Education Loan?
+ -What does margin on any loan mean?
+ -Should the student's margin be paid upfront in the starting?
+ -Where can I avail J&K Bank Education Loan?
+ -Is there any provision to apply for loan online?
+ -Can I view my loan statement online if I am an existing education loan borrower?
+ -Is there any minimum aggregate marks to meet the eligibility criteria to avail J&K Bank education loan?
+ -What is the discount/ rebate offered by J&K Bank ?
+ -What all is included in tangible collateral security?
+ -Can I place my family property as collateral?
+ -Is scholarship or assistantship included in the margin?
+ -What is Moratorium Period?
+ -What is tenure of an education loan?
+ -What does MCLR stands for?
+ -What all expenses are covered under this course?
+ -I have taken admission through management quota. Am I eligible?
+ -What do you mean by reputed or recognized institutes?
+ -Are there any special benefits if I have secured admission to one of the top premier institutes?
+ -What is the processing fee or prepayment charges?
+ -Will cost of my computer be covered under the loan sanctioned?
+ -Why is Pan Card necessary?
+ -Are diploma or certificate courses considered under J&K Bank education Loan (both for India and Abroad)?
+ -Is a co-borrower necessary for loan?
+ -Who can be my co-borrower?
+ -What all documents are required from the co-borrower?
+ -How many guarantors do I need to borrow loan from J&K Bank?
+ -What is the KYC requirement in education loan?
+ -What are maximum term for repayment?
+ -How can I repay the loan?
+ -What is EMI? How are they calculated?
+ -What are the charges for late EMI payment?
+ -Is the loan disbursed in name of individual applicant or to the institute/ university directly?
+ -If I am unable to complete my course in given tenure, will my repayment term be extended?
+ -What is method of application of interest on education loan?
+ -If I am joining the course soon after current course, can I get an extension?
+ -What is interest rate of education loan?
+ -What is interest subsidy on education loan?
+ -What documents do I need to submit to avail interest subsidy scheme?
+ -What is employment verification in an education loan?
+ -Are there any tax benefits in education loans?
+ -Is it necessary to have bank account with the bank while availing loan from that particular bank?
+ -Why do banks require insurance policy as security?
+ -Are there any additional benefits on availing loan from J&K Bank?
+ -What is credit score? Is it important for education loan?
+ -If a student have any query, where or whom to contact?
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