Though Every Bank has their own Requirements for the Documents to be submitted with aStudent loan Application Form. However, Most of the Banks may ask for the following documents from Students applying for Educational Loans.

Admission letter ofthe Educational Institute giving details of year wise fee, boarding and lodging expenses. Letter confirming scholarship, if any.

• Attested copies of documents for proof of age/date of birth and proof of residential address.
• Passport size photo of the applicant, co-obligants and guarantors.
• Copy of marksheets/degree certificates of previous academic qualifications.
• Income proof/latest income tax return of parents/co-obligants, guarantors. (if any)
• Details of collateral security alongwith valuation certificate of Govt approved valuer (if any).
• Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months.
• Copy of Passport/Visa, cost of air fare (documentary detail) in case of studies abroad.

• Indian Bank Student Loan

Several reputed banks offer education loans in India State Bank of Saurashtra also offers education loans to students willing to study their higher education in India and abroad. The education loan provided enables the students to pursue their dream career. If you are looking for education loans to finance your ambitions, then scroll down the page to learn more about Student Loans from State Bank of Saurashtra.

Courses Eligible for Education Loan

All the courses that offer future employment prospects are eligible for the education loan offered by the State Bank of Saurashtra. The various courses eligible for the education loan are undergraduate programs, postgraduate programs, professional and other kinds of courses, which are approved by the Government, UGC, AICTE or other recognized bodies. Expenses to be considered for Loan

• Fees for schools, colleges and hostels. It also includes fees to be paid for examination, library and laboratory charges.
• Expenses for purchasing uniforms, books, instruments and equipments.
• Building fund, refundable deposit, caution deposit, passage money and expenses for traveling abroad to study.
• Money is also provided for the students to purchase computers and other articles necessary for completing education.

Amount of Loan

A maximum amount of Rs.10 lacs and Rs.20 lacs are offered for studies in India and abroad respectively. 

Repayment Tenure State Bank of Saurashtra Education Loan

Repayment of the education loan starts either 1 year after completing the course or six months after getting employed, whichever seems to be earlier.

1. Studies in India

   • Repayment time offered to the students taking up loan up to Rs. 7.5 lacs is five to seven years.
   • Five to ten years of repayment time is given to those taking more than Rs.7.5 lacs as loan.

2. Studies in Abroad

   • Those taking loan up to Rs.15 lacs are given five to seven years of time for repayment.
   • Five to ten years of time is granted to those taking more than Rs. 15 lacs as loan.

Security

State Bank of Saurashtra also demands certain securities for granting education loans.

• No security is demanded for loans up to Rs.4 lacs. (Both India and Abroad)
• Third party suitable guarantee is required for loans above Rs,4 lacs to Rs.7.50 lacs. (Both India and Abroad)
• Tangible Collateral Security is required for those taking loans above Rs. 7.50 lacs to Rs. 10 lacs in India.
• Tangible Collateral Security or third party guarantee is required for those taking loans above Rs. 7.50 lacs to Rs. 15 lacs abroad.
• Tangible Collateral Security is required for taking loans above Rs.15 lacs to Rs.20 lacs. This security is for studies abroad.

Margin

There is no margin for loans taken up to Rs.4 lacs. However, there is a margin of 5% for loans above Rs.4 lacs in India (Studies). For studies abroad, 15% is the margin for the same amount. 

In order to learn more about interest rates, browse through http://www.sbsbank.com/

• Vysya Bank Student Loans
• State Bank of Hyderabad Student Loans
• Student Loans of Mysore Bank
• Development Credit Bank Limited Student Loans
• Dena Bank Student Loans
• Central Bank Student Loans
• Bank of Rajasthan Student Loans

If you want to pursue higher studies, you can opt for education loans from several banks in India. Even United Bank of India offers loans for the students to meet their educational expenses in India and abroad. If you want to know more about United Bank of India Education Loans, then scroll down the page. 

Eligible courses for study in India

There are certain courses which are eligible for United Bank of India education loan.

• Undergraduate, postgraduate, evening and professional courses.

• Various certificate courses in computer which are approved by the Department of Electronics or institutes certified by the universities.
• Various professional courses offered by the reputed institutes like IISC, NIFT, IIM, XLRI, IIT and others.
• Candidates who want to pursue courses like CA, CFA, ICWA may apply for United Bank of India student loan.
• Courses that are conducted by prestigious foreign universities in India.
• Diploma and degree courses offered by various colleges and universities which are approved by any of the following-AICTE, ICMS, UGC, Govt, AIBMS and others.

Eligible Courses for Studying Abroad

United Bank of India also provides financial assistance to meritorious students willing to pursue their higher studies in abroad. Undergraduate courses, Postgraduate courses and various other courses conducted by CPA in USA and CIMA in London are eligible for the educational loan offered by United Bank of India. 

Expenses Covered by the Education Loan

The loan provided includes the fees payable to colleges or institutions, examination fees and even hostel charges. It also includes the cost of purchasing various articles required for the completion of the course. The passage money and travel expenses are also included in the student loan. 

Amount of Loan

Candidates applying for the loan should be Indian nationals and need to secure admission through entrance test or a selection procedure in renowned institutions and universities. The maximum amount of loan granted for study in India is Rs. 7.5 lacs. Students willing to study abroad can get education loan up to Rs.15 lacs. There is no margin up to Rs.4 lacs. For a loan amount above Rs 4 lakh, 5% and 15% are the margins for Inland studies and studies abroad respectively. 

Repayment of Education Loan

The time given for repayment of education loans is five to seven years. The repayment commences either six months after one gets employed or one year after the completion of the course whichever seems to be earlier. 

Security for Education Loan

Security is required from candidates for

• Up to 4 lacs-No security is required
• Loan above Rs.4 lacs and up to Rs.5.40 lacs- Third party suitable guarantee is required.
• Loan above Rs.7.50 lacs-collateral security or guarantee of third party.

In order to learn more about interest rates and other bank formalities browse through http://www.unitedbankofindia.com/

• Education Loans from UCO Bank
• Syndicate Bank Education Loans
• Punjab and Sind Bank Education Loans
• Indian Overseas Bank Education Loans
• IDBI Bank Education Loans
• HDFC Bank Education Loans
• Andhra Bank online Education Loans
• Education Loans in India

On this page, we have tried to list all the major information on education loan provided by Vysya Bank. However, if you encounter any discrepancy in the information about Vysya Bank Student loans, do write to us. We welcome any kind of feedback that would improve the quality of the site, a site that strives to provide the best information on Vysya Bank Study Loans. 

Introduction: The Vysya Bank was established in 1930, at Bangalore by few eminent visionaries who wanted to provide banking facilities to the underprivileged. In 1948 Vysya Bank achieved the status of a “scheduled” bank. Over time, Vysya Bank grew in stature to become the largest private sector bank in 1985. Presently the bank has a network of over 300 branches spread all over India. In October 2002, the bank amalgamated with a leading global financial organization of Dutch origin named ING.

Since then the erstwhile Vysya Bank Limited is being known as ING Vysya Bank Limited. ING Vysya provides educational loans to meritorious students for assisting them in their pursuit of higher studies whether in India or abroad.For availing the facility of study loan provided by the ING Vysya bank, a candidate needs to provideadmission to the desired course, proof of address, proof of income and a brief introduction about the candidate needs to be submitted for the application of educational loan.
Amount of Loan::

The amount of loan provided by the ING Vysya Bank vary with the types of courses to be pursued. However the amount that is lent by the bank can be broadly divided into two categories. The details are:

• For Studies within India - A maximum loan of Rs.7.5 Lacs is provided to candidates pursuing higher studies within India.
• For studies Abroad - The loan amount for pursuing higher studies abroad can at most be Rs. 15 Lacs.

Time for processing:

The maximum time required for the processing of the loan is two weeks.

Rate of Interest::

The rates of interest of educational loans provided by ING Vysya Bank can vary from time to time. The present rate of interest is as follows:

• For studies within India: 16.5% rate of interest.
• For studies abroad: 16.5% rate of interest.

Tenures:

The tenure for repayment depends on the course length.

Repayment:

Repayment of loan commences after the completion of the course.
The educational loans provided by the ING Vysya Bank (erstwhile Vysya Bank Limited) offers an amount of money which is equivalent to most other national banks. The security conditions are also not very stringent. Being a private sector bank having global exposure the banking operations are faster compared to many other banks. These facilities may prove advantageous for students who opt for educational loans from ING Vysya banks. 

Related Link:  www.ingvysyabank.com/ 

• Student Loans from State Bank of Saurashtra
• State Bank of Hyderabad Student Loans
• Student Loans of Mysore Bank
• Development Credit Bank Limited Student Loans
• Dena Bank Student Loans
• Central Bank Student Loans
• Bank of Rajasthan Student Loans