Insurance State Insurance and Provident Department provides insurance for students. The premium is Rs 25 and 50 per year and the sum assured is Rs 25000 and 50000. The principals of schools and colleges can contact the nearest office.
1. Always apply to reputed bank. Avoid applying to credit societies and non-banking entities. They may be cheaters.
2. Always apply through online application instead of offline. Avoid meeting the manager right away. S/he may insist on bribe for passing the file.
3. Ensure you have an active Saving Account with the bank which is at least 6 or 12 months old. Customers are given preference in loans. Better have a fixed deposit with bank. It will improve your reliability for considering for a loan.
Avoid giving bribe for passing of loan. Make written complaints to the higher officers if you are asked for bribe.