SMUDE > Admissions > Educational Loan

Educational Loan 

For the first time in the history of Distance Education, students will be eligible to avail an educational loan from leading bank to enable them to continue higher education.

Sikkim Manipal University Directorate of Distance Education (SMU – DE) has tied up with HDFC bank to provide education loans to eligible students who want to pursue higher education through the distance mode, with Sikkim Manipal University.

Details of the education loan

Who is eligible?

  • ONLY students who opt for programmes from Sikkim Manipal University – Distance education are eligible.
  • Co-borrower Mandatory
  • Co-borrower means - Parent / Blood Relations / Spouse and the income documents of the co-applicant would be of primary consideration and must meet the required bank policy

Education Loan to cover

  • Programme / Course fees as prescribed by the University in the Prospectus


The student will get a minimum of Rs.50,000/- and a maximum of Rs. 150,000/-

Rate of Interest

13% p.a. is the special rate offered by HDFC Bank exclusively for SMU DE students

Bank Loan Charges

  • Loan Processing Charges : 1% (Need to be paid before disbursement of the Loan)
  • Pre-Closure Charges : 4% on the outstanding amount
  • No part pre-payment possible

Loan Disbursement

  • Loan amount will be disbursed directly to the University
  • Loan amount will be disbursed in 2 Instalments
  • Minimum disbursement will be Rs. 50,000/-

Loan Re-payment

  • The interest and principle repayment on the loan disbursed will start immediately from the date of disbursement
  • The borrower will have the choice of repayment in 12, 24, 36 Equal Monthly Instalments


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