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To get educational loan from nationalised banks, the student must get the admission through merit. Students who get the admission through management quota can not avail educational loan.

The loan will be issued from the nearest bank of the permanent residence. If the student moved to another city/place where he gets admission, he can not seek loan from the bank which is nearest to his college. He can avail the loan from the band nearest to his home, where his parents are living or from the place he is having his ration card.

While applying for loan, student has to provide the admission letter or bonafide certificate from the college. He has to provide the fee structure too.

As usual proof of residence, academic, family income has to be provided.

Upto 4 lakh there may not be any security to be provided.

Student must take a LIC policy, where the sum insured should not be less than the loan amount.

The educational loan repayment starts after the course period + 1 year or 6 months after getting a job, whichever is earlier.

The rules and regulations for getting educational loan may be slightly vary from bank to bank.