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Education Bank Loan in India : Tamilnad Mercantile Bank Limited

Learn more about our Education Loan Scheme under TMB Retail Loan Products. This is scheme of choice for parents who wish to educate their children in professional courses in India / Abroad and help them get graduation / post graduation in any field of choice of the student. The cost of the education can be born by the loan from our bank.

TMB Education Loan Scheme



  • Student should have Indian Nationality.
  • Must have first class and take secure admission to technical or professional courses for various studies.
  • Take secured admission to the foreign institutes or universities.
  • Any student greater than 18 years old or the parents can avail loan.


  • Studies in the India:
    • Schooling, graduation and post graduation courses.
    • Professional courses such as Medical, Engineering, Veterinary, Agriculture, Law, Dental, Computer, Management, etc.
    • Courses such as CA, ICWA, CFA etc
    • Courses offered by IIT, IIM, IISc, NIFT, XLR1, etc.
    • Courses conducted in India which is offered standard foreign universities.
  • Studies in Abroad:
    • Graduation courses: Technical or job oriented courses conducted by standard universities.
    • Post Graduation Courses: MBA, MCA, MS etc.
    • Courses offered by CPA - USA, CIMA London etc

Details of Loan

Exposure of Expenses:

  • Fees payable to the school, college or hostel
  • Laboratory, Examination, or Library fee
  • Fees required for purchasing equipments, books, uniforms or instruments.
  • Building funds, caution deposit, or the deposit which is refundable supported by the institution receipts or bills.
  • Passage money or travel expenses for those studies in abroad.
  • Buy the computers which are useful for the course.
  • Other expenses required for completion of course such as study tours, thesis, project Work, etc.


  • The maximum amount is Rs. 7.5 lakhs for the studies in the India.
  • The maximum amount is Rs. 15 lakhs for the studies in Abroad


  • No any margin on the loan up to Rs 4 lakh
  • The margin on loans greater than Rs 4.0 lakh is 5 percent for students in India and 15 percent for the students in Abroad.


  • No security is required on loan amount Rs. 4 lakh
  • Collateral security in type of guarantee of third party when loan amount is between Rs. 4.0 lakh - Rs. 7.5 lakh.
  • And when loan amount is greater than Rs.7.5 lakh, 100 percent collateral in form of property, units of UTI, NSC, policy of LIC, RBI Bonds or the govt. security.

Processing Charges:

  • The processing charges are 0.5 percent of loan amount
  • Processing charges are 100/- Rs. For loan up to Rs. 50,000.
  • For loan greater than Rs.50, 000 min charges are 500 Rs. and max charges are Rs, 100,000.


Moratorium or Holiday Period: Course period and the six months after finishing the course. If student got job within six months from after finishing course, repayment must start instantly.

Max Period of Repayment: The loan is repaid within 5 to 7 years after starting repayment. In case when student is unable to complete the course within particular time then student get extension of maximum of two years. If the student unable to complete the course within particular time and reason is not in his control the getting extension as may be important to finish the course.

Details & Contact

Head Office
V. E. Road,
Tamilnadu, India - 628 002
Phone: 0461 - 2321382, 2321929, 2321932
Website -

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