JK Bank Coaching Fee Loan Scheme Check Eligibility And Rate Of Interest

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  • Term Loan
  • Financing fees of coaching classes or institutes that train students for entrance examinations to courses like medicine, engineering and civil services etc. and for other related expenses like lodging / boarding, purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials.
  • Priority.
  • Student should be an Indian National and should have completed Class X or above aspiring for admission in Engineering, MBBS, MBA, Post-Graduation courses etc.
  • Students pursuing graduation/post-graduation course or employed individuals, desirous of competing for Civil Service Exam of UPSC / State Public Service Commission for employment in IAS, KAS, IPS, KPS etc.
  • The students should have secured a minimum of 55% marks in the previous qualifying exam.
  • Age not exceeding the maximum for targeted competitive exam
  • Parent/Guardian only borrower, if age of the student is below 18 years.
  • Parent/Guardian, jointly with the student if age of the student is 18 years or above.
  • Permanent Employees of State / Central Government, Government / Semi-Government Undertakings, Autonomous Bodies, Public Limited Companies / Private Limited Companies who have been in current employment for a period of not less than two years.
  • Professionals, Self Employed Individuals ,Proprietorship Concerns, Persons engaged in agricultural and allied activities having at least one year satisfactory dealing with J&K Bank.
  • Pensioners State/Central Government, Public Sector Undertaking.
  • Maximum age of Parent/Guardian at loan maturity: 65 years or age of retirement whichever is earlier.
  • If Parent/Guardian is a pensioner maximum age at loan maturity: 68 years
  • Rs. 2 Lakh per child for coaching studies in India.
  • Maximum Amount per parent/guardian- Rs.4 Lakh only.

 

  • Finance for purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials should not exceed Rs. 40,000/= per student within the overall limit of Rs. 2.00 Lakh.

 

 

  • For Permanent Employees / Pensioners: Maximum 18 times of gross monthly salary / pension/ income or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower.
  • For Other Eligible Categories: 1.5 times of average gross annual income of last two years or 90% of coaching fee (which may include boarding & lodging expenses if available in-house) plus 75% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials or Rs 2 Lakh per child/student, whichever is lower
  • 10% of the coaching fee (which may include boarding & lodging expenses if available in-house).
  • 25% of the other expenses like purchase of Laptop/ PCs / Netbooks / Tablets / Study Material / eTutorials
  • Primary : NIL
  • Collateral: Third Party Guarantee of One person.
  • In case of pensioners, guarantee of one person & guarantee of Spouse eligible for family pension shall be obtained.
  • No third party guarantee required in respect of permanent employees of State – UT and Central Government, State–UT / Central Government Undertakings & Autonomous bodies drawing salary through our Bank and where letter of undertaking from employer is available.
  • 36 months including moratorium period of 3 months.

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