Saraswat Udaan Education Loan

At Saraswat Co-operative Bank, we believe education is life’s most valuable investment. The Saraswat Udaan Education Loan is our commitment to helping you invest in your future, whether you aspire to study in India or abroad.
Designed to support your educational journey, the loan covers tuition fees, accommodation, travel, and other eligible education-related expenses.

Eligibility:

Applicant must be an Indian Resident or, a non-resident Indian (NRI)
Must have secured admission to a recognised undergraduate or postgraduate programme at a listed institution in India or abroad.
If your admission is not yet confirmed, a pre-admission letter or an acknowledgment email regarding your application from the university is required.
Factors that influence loan decision include conditional or unconditional offer letter from the university, language and aptitude test scores, past academics, student creditworthiness along with financial co-applicant's overall eligibility.
The student will be the primary applicant and parents or sponsors as the financial co-applicants on the education loan

Security:

Up to Rs. 10.00 lakhs – Unsecured (No collateral is required up to 10 lakhs)
Above 10.00 lakhs: Collateral is required (Must be a collateral type accepted by the bank*)

*Immovable property such as Residential property or demarcated plot, NSC/LIP pledged/assigned in favour of Bank, Fixed Deposit, Saraswat bank property loan for cross collateral.

Maximum Loan Amount:

• Up to ₹500 Lakh – Studies Abroad
• Up to ₹75 Lakhs – Studies in India
• Up to ₹150 Lakh – Medical Courses (India)
• Up to ₹10 Lakhs – Vocational Courses
• Up to ₹60 Lakhs – Executive Programs

Education Loan Coverage:

Up to 100% financing (Supports additional expenses such as travel, accommodation, books, laptops, and insurance—beyond just tuition), No margin money required* (*conditions apply).

Repayment Tenure:

Up to 15 years, including moratorium for applicants applying to postgraduate programmes
Up to 20 Years, including moratorium for applicants applying to undergraduate programmes

Flexible repayment options:

• Complete moratorium
• Simple Interest, or
• Direct EMI

Rate of Interest (Floating):

Interest rates starting from *8.20% p.a.

*Subject to eligibility, credit assessment, and the banks prevailing policies. The final rate may vary based on the applicant’s overall profile as well as loan terms and conditions

Concessions:

0.50% concession for girl child and Divyang applicants
0.25% concession for candidates admitted to premier institutes such as IIMs, IITs, XLRI, ISB, and Government-recognized medical colleges

Note: The total concession in the rate of interest will not exceed 0.50%.

Penal Charges:

Penal charges ranging from 1% to 2% p.a., subject to a maximum of 2% p.a., will be levied for non-compliance with loan terms and conditions until such compliance is achieved.

Shareholding norms:

• Up to 1 Cr – Rs. 1000/-
• Above 1 Cr – Rs. 25000/-

LTV Norms::

Loan eligibility as per sanctioned amount:

Security Type	Maximum LTV / Loan Eligibility
NSC/ LIC Policies	85% – 90% of face value*
Fixed Deposit	100% of Fixed Deposit value*
Immovable Property	Up to 90% of realizable value of the property*

*LTV will be based on the lower of the eligible security value or the loan amount, subject to the bank's policies and borrower eligibility.

Features & Benefits:

Flexible repayment tenure of up to 20 years, tailored to your financial needs
Covers the complete cost of education including tuition, books, laptop, living, travel and other related costs
Attractive rates starting at 8.20% p.a.* with transparent pricing
High value education loans of up to INR 500.00 Lakh
Tax benefits under Section 80E
Zero prepayment charges
Higher eligibility with family-supported collateral/security
Quick approval timelines
Up to 90% LTV on residential, commercial, and land properties.
Hassle-free, doorstep loan processing
Flexible and easy repayment options

Documentation Required for Education Loan:

Student	Co-applicant
Fully filled application form	Fully filled application form
Photo ID proof	Photo ID proof
Proof of residence	Proof of residence
Passport-sized photograph	Passport-sized photograph
Academic documents	Residence ownership proof
Proof of admission / entrance exam score (GRE, IELTS, GMAT etc.) & Fee structure document	Income proof (if applicable)
Visa copy for overseas education (pre-visa documents if visa not received)	Collateral documents (if applicable)
Salary slips of experienced candidates	Balance fund proof (if applicable)

Education Loan - FAQs:

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Terms & Conditions Apply:

The listed TnCs are indicative and not exhaustive. Education loan processing, decisioning and disbursements are subject to the discretion and prevailing policies of Saraswat Co-operative Bank. The Bank reserves the right to revise or withdraw loan offers and terms, including interest rates and charges, without prior notice, in accordance with regulatory requirements.

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