HIGHER EDUCATION LOAN

(Facility available to only ACE Bank Members)

To meet the financial needs of members children who are pursuing Higher Education

• Higher Education mens –
  1. Degree course in any faculty from goal recognised university, Ph.D.
  2. Degree in Medical, Engineering etc./Diploma course of Government recognised institution, Pilots licence, further studies abrood or any vocational career oriented course
• Maximum Loan Limit - Rs. 25 Lakhs
• Repayment period - Maximum 120 months
• Rate of Interest -
  1. Repayment period 60 months : 7.75% p.a.
  2. Repayment period 84 months : 8.00 % p.a.
  3. Repayment period above 84 months : 8.75 % p.a.
• Surieties -
  1. Loan up to Rs. 5 Lakhs – 1 surety
  2. Loan Rs. 5 Lakhs to 10 Lakhs – 2 surety
  3. Loan above 10 Lakhs – 1 surety & property mortgage to bank.
• Share Linkage – 5% of loan amount without mortgage and 2.5% against mortgage