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Funding Future Leaders

Higher Education Loan

Home / Higher Education Loan

Comprehensive Coverage

Our education loan covers all academic-related financial requirements, ensuring students can focus entirely on their studies without financial stress.

Academic Fees
Tuition, exams, and library charges.
Travel Costs
Airfare for overseas studies.
Study Tools
Books, laptops, and equipment.
Housing
Hostel and living expenses.

Global Opportunities

Whether it's a Premier Indian Institute or a Top Global University, our loan limits are designed to meet international standards.

₹ 40 Lakhs

MAX LIMIT (PER WARD)

Merit-Based Interest Incentives

We reward academic excellence. Meritorious students with outstanding track records are eligible for a **0.25% ROI concession**.

  • Processing Fee Waiver for Top-tier Universities
  • Repayment Moratorium during Study Period + 1 Year
  • Interest-only payment option during study tenure

10.50%

Starting Interest Rate

Official Loan Terms

Parameter Official Bank Terms
Interest Rate (ROI) 7.50% P.A.
Maximum Loan Limit ₹ 40.00 Lakhs (Max 2 wards per member)
Repayment Tenure Up to 120 Months (Up to 4 years Moratorium available)
Guarantor Policy NO GUARANTOR NEEDED Contribution towards Surety Guarantee Fund @Rs. 5/- per thousand on sanctioned amount.
Eligibility Criteria:
  • Member with at least **10 years permanent service** in MCGM.
  • At least **5 years** of Municipal Bank membership.
  • Applicant must receive **1/4 of gross salary** in hand after all deductions.

Supported Courses

  • Medical / Engineering / Architecture
  • CA / ICWA / Pharmacy / MBA / CS
  • Degree / Diploma / P.H.D.
  • Fashion / Textile / Textile Designing
  • Computerization / Hotel Management
  • Catering & Professional Diplomas

Fees include: College/Hostel fees, Equipment, Instruments, Study Tours, Project Work, and Traveling Expenses.

Documents Required

Admission Proof Institute Admission Certificate
KYC Documents Certified Aadhar Copy
Academic History Lower Exam Marksheet/Graduation Cert.

The terms and condition and charges may vary subject to modifications in Loan Policy as approved by Board of Directors.

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ho[at]mcbbank[dot]co[dot]in

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