MAHATMA FULE URBAN CO-OPRATIVE BANK LTD.

Loan Limit

Maximum upto Rs. 10 Lakhs.
Repayment

Maximum 12 years excluding moratorium period.
Moratorium:
Three years or duration of the course plus one year, whichever is earlier.
Lower rate of interest for loan & Higher education loan tenure.
Extra features like part-payment, health cover, Interest Rate subsidies and tax rebates. etc.
Moratorium:

Three years or duration of the course plus one year, whichever is earlier.
Lower rate of interest for loan & Higher education loan tenure.
Extra features like part-payment, health cover, Interest Rate subsidies and tax rebates. etc.

Individual who has secured admission in any of the graduate/post-graduate courses offered by college/institute/university approved by IBA.
Students applying for vocational courses will also be covered under this scheme with a maximum loan amount of Rs.10 lakh
Student should be applicant and parent or relative should be co-applicant.
In case of minor student, parent will be applicant.

Duly filled prescribed application form :
Proof of confirmed admission & Estimate of course fees & other expenses (traveling/lodging/boarding).
Demand letter from college or university. Copy of admission letter of the Institute along with fees schedule.
Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
Copy of Passport & Visa and related documents, if the student is going abroad for higher education.
Income proof of the applicant :
Salaried: last 3 months’ salary slip/certificate or copy of the last three years IT returns or form 16 of last two years, 3 month bank statement.
Businessman: last 3 years’ profit & loss and balance sheet, ITR copies of last three years, 3 month bank statement.

Education Loan