Only you can shape your future. So if you feel that further studies are essential to fulfill your aspirations and ambitions, Merchants Bank is your passport to a brighter future.

The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

The salient features of the Education Laon are as under:-

• Financing of up to 100% of the cost of your studies comprising also of travel, accommodation and daily      expenses.
• Simple procedure, minimal documentation and quick approval.
• Attractive interest rates as from 13% (PLR)
• Loan amount as from Rs 100,000
• Loan period: Up to 20 Years

Documents Required:-

• Photo Identity & Residence Proof of the Applicant & Guarantor
• Income proof a) or b) as applicable
• a)Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years
• b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR      and Bank statement for last 3 months.
• Proof of confirmed admission
• Estimate of course fees & other expense (traveling /lodging /boarding)
• Fee receipts or proof of payments made.

Terms And Conditions:-

• Other courses leading to Diploma/ Degree etc. conducted by colleges/ universities approved by UGC/ Govt./      AICTE/ AIBMS/ ICMR etc
• Two Guarantors are mandatory.
• The rates are subject to change from time to time
• To qualify for a Education Loan, you must be aged 18 or over and Nationality should be      Indian

Interest Rates
Education Loan	11.50%
Education Loan For Girl	10.50%