Teachers are the most important person in our society, these are the people who nutures our country future. But unfortunately, they are getting very low salary compared to industry standards. They are facing problem in meeting their daily needs. They are also not provided loans by banks due their low salary. In this view, Manappuram Finance Limited came up with teachers loan for all the teaching and non teaching staffs associated with an educational institutions. Teachers Loan for all teaching and non teaching staffs: It’s an unsecured loan. The documents needed to apply for a Teachers Loan Manappuram Finance offers an affordable rate of interest on Loan for teachers. Read more about our teachers loan interest rate and charges below. Manappuram Finance, Land Line: 0487 3050258, 02268184000/02268182834, Email: [email protected]
Teachers Loan Division
Teachers Loan Division
Teachers Loan Division
Teachers Loan Division
Teachers Loan
Purpose of Loan
Features and Benefits
Work Experience
(Only permanent government employees)Documents needed
Loan Interest Rates & Charges
The following fees and charges are applicable on a Teachers Loan.
Type of Fees
Charges Applicable
Rate of Interest
17.50% (Intrest may vary based on internal credit score )
Processing fee
2% of Loan amount + Applicable Taxes
Late Payment Charges
(Penal Charges)3% per month on Overdue amount for actual days of due
Bounce Charges
Rs 500 for first instance and then Rs 750/- per Bounce
Fore-Closure Charge
3% of Principle Outstanding + Applicable Taxes (only after payment of 3 EMIs)
Prepayment Charge
Part prepayment up to 25% of the Loan Amount can be made in a Financial Year. Part prepayment in excess of this limit will be Subject to pre-payment charge of 3% of the loan amount prepaid plus Applicable Taxes, but, borrower should have paid at least 3 EMIs prior to making part payment
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