Students could avail the Educational Bank Facility from different nationalized banks if they fulfill the below-mentioned criteria:
Eligibility of the Student (for Nationalized Bank Student Loan / Study Loan)
- The student should be an Indian national.
- The student should have completed the previous qualifying examination.
- The student should have secured at least 60% marks (55% marks for students belonging to the SC/ST category) in the previous qualifying examination.
- The student should have secured admission to a higher education course in recognized institutions in India or abroad through an entrance test or merit-based selection process after completion of HSC (10+2 or equivalent).
- Persons already in gainful employment are not eligible for loans under this scheme, except for pursuing evening courses covered under the scheme of an approved institute.
- If a gainfully employed person wishes to pursue full-time education either on study leave or after resigning from present employment, such proposals may be considered provided the applicant submits proof in this regard to the sanctioning authority before disbursement of the loan.
