GDY Loan Scheme
Purpose of the Loan:
- For education in technical vocational courses BCA /MBA /BBA /MCA /Hotel Management etc. from recognized educational institutions for credit facilities.
Eligibility for Loan:
- Those students who submit a certificate for admission in technical/ vocational courses will be considered eligible.
Maximum Loan Amount:
- The maximum amount of the loan will be guardian's debt capacity or 75% of cost of study whichever is less.
Interest Rate:
- The rate of interest for the loan will be 11.00% annually and the interest will be calculated on the monthly basis.
Term of the Loan:
- The term of the loan will be 5 years and which will be recovered in monthly installments. The first installment will be on the enrollment of student or payable after a period of three months of loan payments.
Security for Loan:
- Businessman parents have to put immovable property as collateral security, equivalent to the amount of debt and income tax returns are required to be furnished as equitable mortgage.
Note:-For more details,please contact the Zila Sahkari Bank Ltd. Shahjahanpur nearest Branch.
