Thomas Cook has tied up with SBBJ Bank to bring you Education loans at attractive rates.

The salient features of the Education loans are as below:

• Application for an SBBJ loan can also be done through any Thomas Cook branch

• All full time courses approved by UGC/Govt. of India/AICTE/AIBMS etc. are eligible.
• Very attractive rate of interest – upto Rs 4 lacs lower by 1.50% when compared with most of the private banks.
• Female students will be charged 0.5% less on the current interest rates for loan above Rs. 4.00 lacs.
• Nil processing fees.
• Loan amount as high as 20 lacs for studying abroad.

• Payment of interest during the study period is not mandatory. However, if you pay interest as and when applied, you are eligible for 1% rebate in interest rate, which will be reduced from the loan amount, when repayment of principal commences.
• You will need to furnish the following documents along with the completed application form. Relevant information would relate to the guardian and the student both, as the loan is sanctioned jointly

       Documents required

1.       Mark sheet of last qualifying examination for school and graduate studies in India

2.       Proof of admission to the course

3.       Schedule of expenses for the course

4.       Copies of letter confirming scholarship, etc.

5.       2 passport size photographs

6.       Statement of Bank account for the last six months of borrower (s)

7.       Income tax assessment order not more than 2 years old

8.       Brief statement of assets and liabilities of borrower.

9.       Documents related to property are being offered as security

10.   Copies of foreign exchange permit, if applicable

• The repayment would begin one year after the course period or six months after you get a job, whichever is earlier. You are expected to pay a minimum amount equivalent to the EMI on a monthly basis. However, you can choose to pay more than the EMI, and we do not charge any prepayment penalty.

• EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. Your EMI would be calculated depending on the tenor you choose, to repay your loan. The EMI would be higher if you choose to repay within a shorter period as against longer-term loan. A shorter repayment period, however, reduces your interest cost over the term of the loan.

To find out more about the procedure for applying for an education loan, send us a query