Being a bank, we understand the importance of inventing in education. The Saraswat Education Loan is here to give wings to your child’s dream of studying ahead in India or in a foreign country -  course fees & other expenses   (traveling/lodging/boarding).


  1. Individual who has secured admission in any of the graduate/post-graduate courses offered by college/institute/university approved by IBA.
  2. Students applying for vocational courses will also be covered under this scheme with a maximum loan amount of Rs.10 lakh
  3. Student should be applicant and parent or relative should be co-applicant
  4. In case of minor student, parent will be applicant

Loan Amount:

  1. Studies in India – Maximum upto Rs. 75.00 lakh
  2. Studies in Abroad - Maximum upto Rs. 150.00 lakh
  3. Vocational courses – Maximum upto Rs. 10 lakh

Basis of Advance:

a) 100% Course fees
b)  85-90% of face Value of NSC’s/LIP  OR  90% of accrued value, in case of cumulative deposits or face value in case of other deposits OR 90%  of market value of the property                         OR
c) 50 times of the Avg net salary of parents Or 4 times of the Avg Gross cash accruals in case of businessman or latest audited gross cash accrual with justification.
b) or c) whichever is lower

If property given as Security:
 a) 90% of market value of the property                     OR
 b)75 times of the Avg net salary of parents or 5 times of the Average gross cash accruals  or latest audited gross cash accrual with justification.
a) or b) whichever is lower

Repayment Period:

  1. Maximum 12 years excluding moratorium period.
  2. Moratorium: Three years or duration of the course plus one year, whichever is earlier.


  1. Upto Rs. 4.00 lacs: without guarantor,
  2. Above Rs. 4.00 lacs and upto Rs. 5.00 lakhs – Third party guarantee,
  3. Above Rs. 5.00 lacs: Pledge of any other tangible security acceptable to the bank or Equitable mortgage of Property.
  4. Equitable mortgage of Property, NSC/LIP pledged/assigned in favour of Bank, Fixed Deposit

Rate of Interest:

For IBA approved courses



Upto Rs 150 lakh

PLR – 5.50 = 8.50%
Present PLR: 14% p.a

Present PLR @14% p.a

  1. 0.50% less rate of interest would be applicable incase of Girl students.
  2. 0.25% less rate of interest would be applicable in case of studies in Indian Institute of Management (IIMs) and Indian Institute of Technology (IITs), XLRI, ISB, Govt Recognised Medical Colleges.

Processing Fees:

  1. For Studies in India – NIL
  2. For Studies Abroad – 0.50% of Loan amount maximum Rs. 10,000/-

Special Features:

  1. 25% Discount on commission on purchases of Foreign currency or Forex remittance


  1. As per extant shareholding norms


Life insurance policy of the student borrower.

Documents Required:

  1. Duly filled prescribed application form
  2. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
  3. Proof of confirmed admission & Estimate of course fees & other expenses (traveling/lodging/boarding)
  4. Fee receipts or proof of payments made.
  5. Copy of Passport & Visa and related documents, if the student is going abroad for higher education.
  6. Income proof of the applicant in the form of
    1. Salaried: last 3 months’ salary slip/certificate or copy of the last three years IT returns or form 16 of last two years, 3 month bank statement.
    2. Businessman: last 3 years’ profit & loss and balance sheet, ITR copies of last three years, 3 month bank statement.

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555