Finance > Loans > Educational loans >Expenses
Expenses considered for loan
- Fee payable to college/school/hostel
- Examination /Library/Laboratory fee.
- Purchase of books/equipments/instruments/uniforms
- Caution deposit/building fund/refundable deposit supported by institution bills/receipts
- Travel expenses/passage money for studies abroad
- Purchase of computers – essential for completion of the course.
- Any other expense required to complete the course – like study tours, project work, thesis, etc.
Other conditions
No due certificate need not be insisted upon as a pre-condition for considering educational loan. However. Banks may obtain a declaration/an affidavit confirming that no loans are availed from other banks.
Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending.
In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case to case basis delegating the powers to a fairly higher level authority.
|
