Loans for Children Education (LCE)

1	Purpose	For existing customers to meet the cost of Children Education.
2	Eligibility	Existing borrowers whose housing loan account is with us for more than one year after commencement of EMI, with good repayment track record. The ward of the borrower should have secured the admission to professional / technical courses in India/ abroad and should have scored >60% marks in the earlier examinations.
3	Margin	Upto Rs.5.00 lacs- Nil. Above Rs.5.00 lacs- 20%.
4	Security	Continuing security of the property which is already mortgaged under Housing Loan. Collateral on case-to-case basis.
5	Rate of interest	Prevailing card rate.
6	Repayment	Repayment will commence immediately after one year of completion of the course or getting employment whichever is earlier. EMI to be fixed upon completion of course based upon the income of the borrower and the student (if got appointment). However, interest need to be serviced by the borrowers on monthly basis.

Purpose