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Name : Anupam Kapur
Subject: Student education loans
Message : Nearly all public sector banks offer student loans. The education loan scheme offered by the public sector banks covers all types of courses in schools and colleges in India and abroad. The scheme envisages loans up to Rs 7.5 lakh for studies in India and up to Rs 15 lakh for studies abroad.

For loans up to Rs 4 lakh, no collateral or margin is required and the interest rate is not more than the prime lending rate (PLR). For loans above Rs 4 lakh, the interest rate will not exceed PLR plus 1 per cent.

The loans are to be repaid over a period of 5 to 7 years with the provision of a grace period of one year.


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