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. 

Vijaya Bank education loan is offered to the deserving students willing to pursue their higher education in India and abroad. Scroll down the page to learn more about Students Loans from Vijaya Bank. 

Candidate’s Eligibility

Students, who are Indian national, are eligible to apply for the loan.Students need to take admission to relevant technical or professional courses through entrance examination or a merit based selection process. 

Courses Eligible for Vijaya Bank Student Loan

1. Studies in India
   • Vijaya Bank education loan is granted to students willing to pursue full time courses (graduation, post graduation, professional courses, doctorate, computer certificate courses affiliated to university or approved by Department of Electronics), courses offered by foreign universities and part time evening courses.
   • Various programs conducted by prestigious institutions like IISc, NIFT, IIT, XLRI and IIM
   • Professional courses conducted by the ICFAI National College.
   • Various courses like CFA, ICWA, CA and others.
   • Programs related to pilot training.
   • Courses conducted by M/s. Frankfinn Institute of Air Hostess.
2. Studies Abroad Vijaya Bank offers education loans to students willing to pursue their higher education in abroad. It provides financial assistance to the students to complete graduation, post graduation and pilot training programs certified by competent authority of a particular nation. It also provides loans to students willing to join the programs offered by CPA in USA and CIMA-London.

Expenses Covered by the Loan

• The education loan helps the students to pay their college, hostel, examination, library and laboratory fees.
• Vijaya Bank student loan also covers the various educational expenses of the students which include travel expenses, cost of books and other necessary articles, refundable deposit, caution money, building fund and also issues DD in favor of CET cell.

Amount of Loan Offered by Vijaya Bank

The maximum amount of loan granted by Vijaya Bank for education in India, is Rs.10 lacs and Rs.20 lacs for study in abroad, 

Margin

There is a margin of 5% and 15% (above Rs.4 lacs) for studies in India and abroad respectively. 

Security

Vijaya Bank also charges various kinds of security for issuing education loans.

• Loan above Rs.4 lacs to Rs.7.50 lacs -Guarantee of third part (both India and abroad)
• Loan above Rs. 7.50 lacs to Rs.10 lacs(India) and Rs.15 lacs (Abroad)-collateral security.
• Rs. 15 lacs to Rs.20 lacs (Abroad)- collateral security and guarantee of third party.

Repayment of Loan

India-

 A loan amount up to Rs.7.5 lacs needs to be paid back within a period of five to seven years. Five to ten years is the time stated for loans above Rs.7.5 lacs. 

Abroad-Five

 to seven years is the time stated for loans up to Rs.15 lacs. Candidates taking loans above Rs.15 lacs should pay back the sum within a time of five to ten years. 

In order to learn more about rate of interest, browse through http://www.vijayabank.com/

• Bank of Baroda Students Loans

If you want to apply for Educational Loans of United Western Bank, you can approach any branch of Industrial Development Bank of India. Since October 2006, all the branches of United Western Bank Ltd have started functioning as units of IDBI Ltd. 

History of United Western Bank:

As the history goes, United Western Bank was formed by W.G aka Annasaheb Chirmule in 1936. UWB gained the status of a scheduled bank in 1951. Later it saw two mergers, one with Union Bank of Kolhapur and another with Satara Swadeshi Commercial Bank Limited. UWB, later acting as a private sector bank, operated 230 branches in 9 states apart from its Zonal offices at Pune, Mumbai, Kolhapur, Nagpur and Jalgaon. 

Merger of IDBI & UWB:

IDBI was formed as a Development Financial Institution in 1964. Later it became a full-fledged commercial banking company in the name of Industrial Development Bank of India Limited. This bank offers diverse services in corporate banking, agri-products, retail sector and SME Finance.

• The merger of IDBI and UWB came to force on 3rd October in 2006.
• All the UWB branches have been operating as IDBI Ltd branches since then.
• Whether you have deposited your money or availed of any other service of UWB Ltd., you can continue to use your account or the services as IDBI customers.

Thus if you have plans to avail of UWB Education Loans, you can visit any branch of IDBI. To know more about the scheme of IDBI Student Loan, visit http://www.indiaedu.com/

• Educational Loans for Federal Bank Ltd

Since its inception in 1943, UCO has offered several kinds of banking services to its customers. Apart from 2000 Service Units across India, it also deals in Foreign Exchange operations. For meritorious students aspiring to pursue studies in India or abroad, the bank also offers education loans. If you want to apply for Education Loans from UCO Bank, you can go through our site and gather relevant information on the same. However, if a student applies for a loan, the parents will be considered as co-borrowers with their dependant ward. 

Courses:

UCO Bank Student Loans can be obtained by students applying for several kinds of academic programs. 

• You can apply for the education loan for school education or even graduate, postgraduate, doctoral or professional programs.
• You can also apply for the loan for studying specialized courses like ICWA, CFA or CA.
• Even for computer certificate courses from recognized institutes, you can take the loan.
• If an applicant plans to study graduate programs including employment-oriented vocational or professional program from recognized universities abroad, he can apply for the loan.
• You can apply for UCO Bank education loan even for courses like MBA, MCA and those of CPA in the US and CIMA-London in abroad.

Eligibility for Loan:

An applicant should be aged between 18 to 25 years if he pursues a graduate course and 21 to 28 years for studying a postgraduate course. There can be slight relaxation in the age limit in both the cases. Only if a candidate gets admission to a vocational or professional program through a selection procedure based on merit or entrance test, he can apply for the loan. You can also apply for the loan if you get admitted to a foreign institute. 

Expenses taken into account:

Education Loans from UCO Bank cover fees for boarding, caution deposit and building fund. Apart from fees for library and examination, it also includes other expenses related to completion of the course. Even travel expenses are taken into account. 

Amount of loan:

UCO Bank sanctions a loan of maximum Rs 7.5 lacs and Rs 15 lacs for studying in India and abroad respectively.

• No security is charged for a loan amount upto Rs 4 lacs. However, a borrower needs to submit collateral securities for a loan amount above Rs 4 lacs.
• There is a margin of 5% and 15% for a loan amount above Rs 4 lacs for studying in India and abroad respectively.

Repayment:

A borrower can repay the loan in 5 to 7 years after he begins repaying. 

For more information on UCO Bank Student Loans, you can go to http://www.ucobank.com/

• United Bank of India Education Loans
• 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

If you are planning to pursue higher studies, you can choose from several kinds of education loans in India. Syndicate Bank Education Loans are quite popular among the students. This student loan covered under SyndVidya Loan Scheme is aimed at students willing to pursue basic education as well as advanced academic programs. Under Personal Loan Products, this bank also has other kinds of loans on offer. As the history goes, Syndicate Bank was founded at Udupi, Karnataka in 1925. You can browse through our site to know about SyndVidya Loan Scheme. 

Courses:

• An applicant can apply for Syndicate Bank Education Loans if he wants to study graduate, postgraduate or doctoral programs in India.
• You will also be considered eligible for the loan if you plan to study computer certificate courses of recognized institutes having accreditation to Department of Electronics or affiliation to universities in India.
• An applicant who wants to pursue professional programs in Engineering, Agriculture, Medicine, Veterinary Science, Law, Computer and other streams in India will also be considered eligible.
• Specialized courses such as CFA, ICWA; programs by the likes of IIMs, IISc; Evening programs; diploma courses sanctioned by bodies like UGC, AICTE or government; programs of foreign universities or recognized national institutes in India can all be considered for loan.
• If you plan to study abroad a postgraduate course like MBA or MCA, employment-oriented graduate program by recognized university or one by CPA in the US or CIMA-London in abroad, you can apply too.

Eligibility:

• Any Indian National, who is an adult or a minor student represented by a guardian can apply for the loan.
• The applicant will be considered eligible if he gets admission to a professional or vocational program on the basis of a selection procedure or an entrance test. However, there can be exceptions made in special cases.
• If you plan to study a program from a reputed foreign university abroad, you can also apply.

Amount of Loan, Margin & Security:

The amount of SyndVidya Loan is decided on the basis of the applicant’s requirement. The maximum amount of loan for studying in India is Rs 10 lacs while it is Rs 20 lacs for studying abroad.

• There is no margin on a loan amount upto Rs 4 lacs.
• However on a loan amount above Rs 4 lacs, there is a margin of 5% and 15% for studying in India and abroad respectively.
• If you apply for a loan amount above Rs 4 lacs, you need to submit a 3rd party as a guarantee.
• When the amount exceeds Rs 7.5 lacs, you need to submit a collateral security along with 25% margin that covers the amount of loan. In this case, you also need to assign the future income of the student for paying the installments.

Expenses taken into Consideration:

Several kinds of expenses are covered by Syndicate Bank Education Loans. The college, hostel or school fee and even exam fee is covered by the loan. Other expenses like cost of buying books, travel expenses, cost of essential equipment, caution deposit, building fund and refundable deposit are also taken into account.

Repayment:

You can repay the loan in 5 to 7 years beginning from 6 months after getting a job or 1 year after completing the course, whichever happens earlier.

For knowing the rate of interest and other details of Syndicate Bank’s Education Loan Scheme, you can click on http://syndicatebank.in/

• United Bank of India Education Loans
• Education Loans from UCO Bank
• 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