Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Education coveredLoan to parents of students in recognized Indian schools: pre-school, primary, upper primary, secondary and senior secondary stages.View source
The page lists five school stages from pre-school through classes 11–12.
- Source
- Star Progressive Education Loan
- Page / section
- Features / Courses
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum financeMaximum cap ₹4 lakh for each stage.View source
The quantum section states maximum ₹4 lakh for each stage.
- Source
- Star Progressive Education Loan
- Page / section
- Quantum of Loan
- Accessed
- 30 Aug 2026
- Confidence
- high
Interest rateRBLR plus CRP 1.70% p.a., presently 9.80%; children of Bank staff and their spouses are shown at RBLR plus CRP 0.70%, presently 8.80%. Girl students may receive a 0.50% concession.View source
The current rate sheet gives standard and Bank-staff-family spreads/present rates and the girl-student concession.
- Source
- Retail Loans — Floating and Processing Charges (effective 1 June 2026)
- Page / section
- Page 5: Star Progressive Education Loan
- Accessed
- 30 Aug 2026
- Confidence
- high
Repayment periodEach stage is repaid in 12 equated monthly instalments immediately after disbursement; no longer tenure is published.View source
The page states 12 immediately after disbursement.
- Source
- Star Progressive Education Loan
- Page / section
- Features / Repayment
- Accessed
- 30 Aug 2026
- Confidence
- high
Processing feeNo processing charge is published. VLP portal charge ₹100 plus 18% GST and scheme-deviation charges may apply where stated.View source
The page states nil processing charges and lists portal/deviation charges.
- Source
- Star Progressive Education Loan
- Page / section
- Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
Margin and securityNil margin up to ₹4 lakh and no collateral security; parent and student must be resident Indians and the parent is the borrower with a reasonable source of income.View source
The page publishes nil margin, no collateral and parent/student residency and income-source conditions.
- Source
- Star Progressive Education Loan
- Page / section
- Eligibility / Margin / Security
- Accessed
- 30 Aug 2026
- Confidence
- high
EligibilityResident Indian parent and student; student admitted to a recognized school or board for one of the five published stages from pre-school to senior secondary.View source
The eligibility section lists resident parent/student and recognized school-stage admission.
- Source
- Star Progressive Education Loan
- Page / section
- Eligibility
- Accessed
- 30 Aug 2026
- Confidence
- high
Minimum incomeNo numeric minimum income is published; the page only requires the parent borrower to have a reasonable source of income.View source
The page says reasonable source of income but gives no rupee threshold.
- Source
- Star Progressive Education Loan
- Page / section
- Eligibility
- Accessed
- 30 Aug 2026
- Confidence
- high
BenchmarkRBLR (Repo-linked benchmark lending rate) plus the published 1.70% standard spread; a 0.70% staff-family spread is also published.View source
The rate sheet names RBLR and gives both spreads.
- Source
- Retail Loans — Floating and Processing Charges (effective 1 June 2026)
- Page / section
- Page 5: Star Progressive Education Loan
- Accessed
- 30 Aug 2026
- Confidence
- high
APRNo separate APR figure or methodology is published.View source
and charges are published but no calculation is provided.
- Source
- Star Progressive Education Loan
- Page / section
- Rate / Charges
- Accessed
- 30 Aug 2026
- Confidence
- high
Prepayment / foreclosureNo prepayment penalty.View source
The manually reviewed product record states: “No prepayment penalty published”. The issuer's current sanction terms should still be confirmed before applying.
- Source
- Star Progressive Education Loan — official product page
- Page / section
- Fees and prepayment
- Accessed
- 30 Aug 2026
- Confidence
- high
TenureEach stage is repaid in 12 equated monthly instalments immediately after disbursement; no longer tenure is published.View source
The page states 12 immediately after disbursement. This is the issuer-published maximumTenure value shown under the comparison field “Tenure”.
- Source
- Star Progressive Education Loan
- Page / section
- Features / Repayment — comparison field: Tenure
- Accessed
- 30 Aug 2026
- Confidence
- high
Geographic limitsResident Indian parent and student; student admitted to a recognized school or board for one of the five published stages from pre-school to senior secondary.View source
The manually reviewed product record states: “Resident Indian parent and student; student admitted to a recognized school or board for one of the five published stages from pre-school to senior secondary.”.
- Source
- Star Progressive Education Loan — official product page
- Page / section
- Published product metadata
- Accessed
- 30 Aug 2026
- Confidence
- high
Benefits and features
- Nil processing charges
- No collateral security
- Nil margin up to ₹4 lakh
- No prepayment penalty published
Eligibility
- Parent and student must be resident Indians.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Identity/address proof, admission evidence, academic records and parent income/ documents as required.
Related official documents
Retail Loans — Floating ROI and Processing Charges (effective 1 June 2026)official-rate-sheet · current · accessed 30 Aug 2026
↗Star Progressive Education Loanofficial-product-page · current · accessed 30 Aug 2026
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