Facilities @ JGI




BANK LOAN


Overview

The JIET Group of Institutions is assisting its students to avail educational loans being offered by various Nationalized & Private Sector Banks to enable maximum number of students to full fill their future dreams by taking admission in higher education despite their family & / or financial hurdles.

Banks are generally sanction Education Loan to a Student fulfilling their terms, for the following expenses up to the term / period of the Course:


  • Fee payable to College & / or for Hostel

  • Examination / Library / Laboratory fee

  • Purchase of books / equipments / instruments / uniforms

  • Caution Deposit / Building Fund.

  • Purchase of computers

  • Insurance premium for student borrower

  • Boarding and lodging expenses including Hostel

  • Other Expenses like - study tour, project work etc.


  • However, the students and their parents / guardians are personally responsible for obtaining sanction and subsequent disbursement, repayment of the sanctioned loan and all other kinds of liabilities and consequences arising thereof, if any. The JGI is not liable and responsible in this regard what-so-ever it may be.



    Loan Procedure


    A student, who is desirous to apply / obtain an Education Loan has to approach to any Bank with the following information / papers:


  • Loan Application on Bank’s format.

  • Proof of admission

  • A letter of the College containing various charges like – Admission Fee, Tuition Fee, Hostel Charges etc.

  • Proof of address (Permanent) / ID Card

  • Other papers at the discretion of a Bank.


  • The College will happily provide the required information regarding education period, details of fees, terms of fees etc. or any other document(s) as required by the concerned bank for early sanction of loan, as and when deemed appropriate.



    Rate of Interest


    Margin, Rate of Interest & Security norm is same in all the Banks. However, these differs from Bank to Bank in case of loan above Rs. 4.00 lac

      Loan upto 4 Lac Loan above Rs. 4.00 Lac & up to 7.50 Lac Loan above Rs. 7.50 Lac
    Margin NO 5% 5%
    Rate of Interest
    (Based on Base Rate)
    13.75% Simple basis up to repayment holiday It varies from Bank to Bank 14% to 15% Simple basis up to repayment holiday It varies from Bank to Bank 14% to 15%
    Security Co-Obligation of Parents. No Security Co-Obligation of Parents together with collateral security in the form of suitable 3rd party guarantee acceptable to the Bank Co-Obligation of Parents. Collateral Security of suitable value along with Assignment of future income of the student for payment of installments



    The security can be in the form of land / building / Govt. Securities / Public Sector Bonds / Units of UTI, NSC, KVP, LIC Policy, Gold, Shares/ Mutual Funds/ Debentures, Bank Deposit in the name of the student parent / guardian or any other third party with suitable Margin.



    List of Banks





    The College will happily provide the required information regarding education period, details of fees, terms of fees etc. or any other document(s) as required by the concerned bank for early sanction of loan, as and when deemed appropriate.





    Contact For Detail Informaion:-

    Mr. Utkarsh Bhandari
    Chief Administrative Officer
    Mobile: +91-98292-14771