Education Loans from Tamilnad Mercantile Bank
Tamilnad Mercantile Bank (TMB) offers a range of Tamilnad Mercantile Bank Education Loan schemes to different segments of the student population. From short-term study loans to long-term education loans for higher studies, Tamilnad Mercantile Bank these loan products suit different student segments. The bank offers two education loans. It also had two other loans that have recently been removed by the bank from its website. Nonetheless, we have covered them also.
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The education loan from Tamilnad Mercantile Bank:
- TMB Education Loan for Higher Studies in India and Abroad
- TMB Super Education Loan
These two loans may have been discontinued (update: November 2020):
- Short-Term Study Loan
- Skill Loan Scheme
We give you a brief intro to the education loans offered by the bank below. In addition you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.
Tamilnad Mercantile Bank Education Loan for Higher Studies in India and Abroad
This Tamilnad Mercantile Bank study loan helps students finance their education and realise their dreams of pursuing higher education at recognised educational institutions in India or abroad. The maximum loan amount you can get is Rs. 10 lakh for studying in India and Rs. 20 lakh for studying abroad. Let’s look at its different features:
Features of Tamilnad Mercantile Bank Education Loan for Higher Studies in India and Abroad
Why this Loan?
- This Tamilnad Mercantile Bank Education Loan is meant to help students who have secured admission into a higher education course in a recognised institution in India or abroad through entrance test or merit-based selection process
- This Tamilnad Mercantile Bank Education Loan is disbursed as a series of payments over the required number of years and not as a lump sum
- The loan can be taken for all expenses directly related to the course including for fees, purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
Tamilnad Mercantile Bank Super Education Loan
This Tamilnad Mercantile Bank Education Loan helps students finance their postgraduate education across recognised educational institutions in India or abroad. The maximum loan amount you can get is Rs. 10 lakh for studying in India and Rs. 50 lakh for studying abroad. Let’s look at its different features:
Features of Tamilnad Mercantile Bank Super Education Loan
Why this Loan?
- The loan is meant to help students who have secured admission into postgraduate courses in a recognised institution in India or abroad through entrance test or merit-based selection process
- This Tamilnad Mercantile Super Bank Education Loan is disbursed as a series of payments over the required number of years and not as a lump sum
- The loan can be taken for all expenses directly related to the course including for fees, purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
Earlier until the middle of 2020, the bank also offered the two educational loans below. Details of these loans are not shared by Tamilnad Mercantile Bank in the public domain as of November 2020 and it is likely they have been discontinued or at the very least put on hold.
Tamilnad Mercantile Bank Short-Term Education Loan
This Tamilnad Mercantile Bank study loan helps parents finance their child’s education. The maximum loan amount you can get is Rs. 25,000 or 3 month’s gross salary of the parent, whichever is lower. The loan can be taken for all expenses directly related to the course including for fees, purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
Features of Tamilnad Mercantile Bank Short-Term Education Loan
Why this Loan?
- The loan is meant to help parents pay for their child who has secured admission into a school, Undergraduate course, Diploma or Postgraduation course
- This Tamilnad Mercantile Bank Short-Term Education Loan is disbursed as a series of payments over the required number of years and not as a lump sum
Tamilnad Mercantile Bank Skill Loan Scheme
This loan helps students who have gained admission into technical courses offered by training institutes, polytechnics, to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.
Features of Tamilnad Mercantile Bank Skill Loan Scheme for Technical Courses
Why this Loan?
- This Tamilnad Mercantile Bank Education Loan is meant for you if you have gained admission into a technical course offered by a polytechnic, training institute (ITI), etc. in India
- The bank disburses the Tamilnad Mercantile Bank Skill Loan Scheme as a series of payments over the required number of terms or years to pay the course fees or other approved charges
Reference Facts:
- Tamilnad Mercantile Bank Website: www.tmb.in
- Headquarters: Tuticorin, Tamil Nadu
- Customer Care Toll-Free Number: 1800 425 0426