Fund your Education

You do not need to worry about the finance for your education if you want to learn in your life. Yes, at NBS you have the facility to get finance for your degree. We have a dedicated team that takes care of the complete financing process. Education loan comes under the “Priority Sector Lending” of the banks.

Apply Online for Loan

Costs Involved

You will have to pen down the costs that are involved. Primarily the tuition costs, the residential costs (if you live in a Paying Guest (PG) accommodation) and any other unexpected costs. This will be your loan requirement.

Broad Criteria of Financial Institutions (Banks)

Loan Rs in Lacs	Required Security/Margin
Upto 4 lacs	Not required
Between 4 lacs to 7.5 lacs	Third Party Guarantee*
Above Rs 7.5 lacs	Collateral Required
* Signature of Parent/Uncle/Aunt/Relative

Points for Consideration for selecting the Financial Institution

Tenure (Period)

The time period required to repay the loan. Estimate your ability to pay the required amount at the required times. Repayment time usually starts after 6 months to 1 year post course completion. The maximum time limit will be 5 years.

Interest Rate

Consider the rate of interest that is charged on the loan. Interest rate can be simple or compound and fixed or floating.

Down Payment

This is the margin money or the amount required to be paid at the time of receiving of the loan. Bank will not finance the 100% loan amount and will require certain portion as margin money.

Loan Charges

This is also known as processing fees or file charges. These charges vary from bank to bank and therefore it needs to be checked.

Prepayment Charges

These are the charges that are levied by bank if you pay up the loan early before its stated time period.

Loan Availability

The time required by the bank to provide funds to you. The banks usually denote this time as TAT (Turn Around Time).