The primary objective of KBL Vidyanidhi is to provide financial support to aspiring students of Indian nationality for a variety of courses and degrees. Loans are available to both major (representing themselves) and minor students (represented by parents/guardians). The loan also covers a wide range of expenses and charges incurred by the student during his course at nominal interest charges and fees.
Any student, representing himself / herself if major, or a minor student represented by parent or guardian, of Indian nationality, who has secured admission to a professional / technical / other course, in India or abroad.
Karnataka Bank is a major banking institution based in the coastal city of Mangaluru in Karnataka, India. The Reserve Bank of India has designated Karnataka Bank as an A1+-class scheduled commercial bank. The bank now has a national presence with a network of 700 branches and above 1100 ATM's across 21 states and two Union territories. It has over 6084 employees and 6.7 million customers, including farmers and artisans in villages and small towns throughout the country. Its shares are entirely privately owned by some 1,29,862 shareholders.
1.Is the loan contract executed only in the student's name?
No. The loan documents will be executed by both the student and parent/guardian as joint borrowers. All the borrowers are equally responsible for repayment of loan.
2.Are minors eligible to apply for a study loan from Karnataka Bank?
Yes. Minors aspiring for further studies can apply for a loan from the bank with legal representation from parent(s)/guardian.
3.Should the student?s margin be paid upfront?
The student?s margin share can be paid on a year-to-year footing on pro rata basis when the bank disburses the loan amount based on the requirement.