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THE HARYANA STATE CO-OPERATIVE APEX BANK LTD

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Invest in Your Future with
Harco Bank's Education Loan

Don't let finances stand in the way of your dreams. Our flexible education loans are designed to help you succeed.

Saraswati Education Loan

A comprehensive scheme to support your higher education journey in India or abroad.

Sr.No. Condition Requirements
1. Maximum Limit Maximum Rs. 40 lakhs.
2. Eligibility
  • The student should be an Indian National.
  • The student should have secured admission to a higher education course in recognized institutions in India through Entrance Test/Merit Based Selection process after completion of HSC (10 plus 2 or equivalent).
3. Purposes The scheme provides financial support for higher education in India and Abroad, including:
  • Studies in India: Approved Graduate/Post Graduate degree & PG Diplomas from recognized colleges/universities (UGC/Govt./AICTE, etc.). Also, courses by IIMs, IITs, etc.
  • Studies Abroad: Job-oriented professional/technical courses from reputed universities, Post-graduation (MCA, MBA, MS, etc.), and courses by CIMA-London, CPA, etc.
*For more eligible course details, read the complete scheme attached below.
4. Repayment
  • Repayment in equated monthly installments (EMIs) for a period of **15 years**.
  • **Moratorium:** Course period + 1 year.
  • Assignment of future income of the student for payment of installments to be taken.
5. Margin
  • Up to Rs. 5 lakhs: **10%**
  • Above Rs. 5 lakhs: **20%**
  • Margin may be brought-in on a year-to-year basis as disbursements are made.
6. Security
  • **Up to Rs. 5 lakhs:** Parent(s)/guardian to be joint borrower(s), one 3rd party guarantee, and No tangible security required.
  • **Above Rs. 5 lakhs:** Parent(s)/guardian to be joint borrower(s) and obtain tangible collateral security of suitable value (minimum 1.5 times of loan amount).
7. Rate of Interest
  • **10%** as on 01.01.2025 (decided by ALCO from time to time).
  • Rebate of **1% in ROI** is permitted to girl child/women beneficiaries.
  • **0.50%** processing fee per loan case plus applicable taxes.
  • **NIL** pre-closure or hidden charges.
Download Detailed Scheme