Purpose

 
 

The scheme aims at providing financial support from bank?s to deserving/meritorious students for pursuing higher education in India and abroad. The main emphasis is that very meritorious though poor is provided with an opportunity to pursue education with financial support from the bank with affordable terms and conditions. No deserving student is denied an opportunity higher education for want of financial support.

Rate of Interest

 
 
  • 1.on Loan ? Base Rate + 4.00% Overdraft ? Base Rate + 5.00% Base Rate:9.75%
 
 

Eligibility for Educational Loan

 
 

1.Should be an India National

2.Secured admission to professional/technical curses through Entrance Tests/Selection process.

3.Secured admission to foreign university/Institutions.

4.No minimum qualifying marks.

 
 

About the Bank

 
 

The Nainital Bank Limited (NTB) (known as Nainital Bank)[2] (Hindi: ??????? ????) is a scheduled commercial bank founded by Mr Govind ballabh pant and Shah community in the year 1922 .The bank is a subsidiary of Bank of Baroda the second largest bank in India, Bank of baroda is having a majority of stake of 98.6%(Approx 99%) since 1975. The bank has expanded to Uttar Pradesh and especially in Uttarakhand State, and has over 130 branches in Rajasthan, Delhi and Haryana states.Today, it has a net business of ?55 billion (US$820 million) (2012), and is enlisted as a scheduled bank by the Reserve Bank of India

 
 

FAQ Loan

 
 

1.How long will it take for the bank to process my application?

After all necessary documents are submitted, the bank will convey its decision within 15 working days from the date of receipt.

2.What is the role of the parents when applying for an education loan?

The parents or guardian of the student applicant will be treated as a co-applicant and a primary debtor.

3.How will the education loan be disbursed?

The student loan will be disbursed in full or suitable instalments depending on the requirement of funds or fees. It will be directly disbursed to the educational institution or the vendor.

 
 
 
 
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