Vijaya Bank is one of the reputed banks that offer educational loans in India. The main objective of the bank is to provide top quality financial services to its customers. It was established by late Shri. A.B.Shetty with other enterprising farmers on 23rd October, 1931 and became a nationalized bank on 15th April, 1980.
Education Bank Loan in India : Vijaya Bank
- Student must have Indian Nationality.
- Take a secured admission to technical or professional courses in India as well as Abroad through the entrance exam or any selection process based on merit.
- Studies in the India:
- Graduation courses such as B. Sc, B.Com, BA, etc.
- Post Graduation courses such as MCA, MCM etc & Phd.
- Professional Courses like Medical, Engineering, Agriculture, law, Veterinary, Dental, Computers, Management, etc
- Cartooning, Animation, graphic designing, multimedia etc. courses having course period is 1 year or 1+ and offered by standard institutes for fulfiing following criteria:
- NASSCOM rated/certified
- Accredited to any of the UGC joined university in India
- AICTE affiliated
- Affiliated to standard foreign universities
- Computer courses of standard institutes qualified to electronics department or qualified institutes or universities.
- Courses such as CA, ICWA, CFA etc.
- Courses offered by IIT, IIM, XLRI.NIFT, IISc, etc.
- Professional courses of ICFAI National College.
- Coursed conducted by M/s. Frankfinn Institute of the Air Hostess.
- Programme for Pilot Training.
- Courses obtained in India by the standard foreign universities.
- Evening courses of the approved institutes.
- Diploma or degree courses conducted by colleges or universities offered by government, UGC, AICTE, ICMR, AIBMS etc.
- Courses conducted by National or other reputed universities.
- Studies in abroad:
- Graduation courses which are job oriented technical or professional offered by standard universities.
- Post graduation courses such as MBA, MCA, MS, etc.
- Courses conducted by CPA - USA CIMA in London, etc.
- Programme for pilot training.
Exposure of Expenses:
- Fees payable to the school, college or hostel
- Laboratory, Examination, or Library fee
- Fees required for purchasing equipments, books, uniforms or instruments.
- Building funds, caution deposit, or the deposit which is refundable supported by the institution receipts or bills.
- Passage money or travel expenses for those studies in abroad.
- Buy the computers which are useful for the course.
- Other expenses required for completion of course such as study tours, thesis, project work, etc.
- Issuance of the DD favoring CET Cell
- The maximum amount is Rs. 10.0 lakhs for the studies in the India.
- The maximum amount is Rs. 20.0 lakhs for the studies in Abroad
Assistantship or the scholarship is included in the margin.
- No margin on the loan up to Rs 4 lakh
- The margin on loans greater than Rs 4 lacs are 5 percent for students in India and 15 percent for the students in
- No security is needed on loan up to Rs. 4 lakh
- Guarantee of third party is required on loan greater than Rs. 4lakh and below Rs. 7.50 lakh.
- For the loan between Rs. 7.5 lakh - Rs.10 lakh, Tangible Collateral security that is 100 percent of the loan value.
- For loan between Rs.7.5 - Rs.15 lakh (Abroad), tangible security, guarantee of third party and assignment of student's future income is needed.
- Loan between Rs 15 lakh - Rs. 20 lakh (Abroad), tangible security, guarantee of third party and assignment of student's future income is needed.
The loan should be repaid in five to seven years after initiating repayment. The repayment must start after repayment or moratorium holiday plus 1 or 6 months from getting the job, whichever is earlier.
M G Road,
Phone - (080) 25584215
Fax - (080) 41134200