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/

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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
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• Development Credit Bank Limited Student Loans
• Dena Bank Student Loans
• Central Bank Student Loans
• Bank of Rajasthan Student Loans

State Bank of Hyderabad Student Loans are sanctioned to meritorious students, who aspire to pursue their higher education in India or abroad. Apart from its education loan scheme, this bank offers diverse types of loans for personal advances. As the history goes, State Bank of Hyderabad was formed in the name of Hyderabad State Bank in 1941 under Hyderabad State Bank Act, 1941. Its first branch began operations at Gunfoundry in Hyderabad in 1942. This bank was given the existing name when it was taken over by RBI in 1956. Later in 1959, it started functioning as a subsidiary of State Bank of India. 

Courses:

State Bank of Hyderabad Student Loans are offered for several kinds of academic programs in India and abroad.

• Education loan can be sanctioned for pursuing school education in India.
• A student can also apply for this loan if he plans to study graduate, postgraduate and doctoral programs in India.
• Professional Courses like Engineering and Medical programs, specialized courses like ICWA, CFA or CA, programs by nationally reputed institutes like IIM and IISc or computer certificate programs of recognized institutes in India can be considered for this loan.
• Even courses by recognized foreign universities, diploma programs sanctioned by the likes of UGC, AICTE and the government in India, can be taken into consideration for sanctioning this loan.
• If you plan to study employment-oriented graduate courses, postgraduate programs like MS or MBA, or courses by CPA in the US or CIMA-London in abroad, you can apply too.

Eligibility:

Only an Indian national can apply for an education loan from State Bank of Hyderabad. The student also should have been admitted to a vocational or professional course on the basis of a selection procedure or entrance test. You will also be considered eligible if you get admission to a foreign institute. 

Amount of Loan, Margin & Security:

The amount of loan is decided on the basis of a person’s requirement as well as the repaying capability of the student borrower or his parents. 

A maximum amount of Rs 10 lacs is sanctioned for studying in India. The amount for studying in abroad is Rs 20 lacs. The bank also has guidelines in regard to the margin and security of its Educational Loan Scheme.

• No amount of margin and security is there for loan amount upto Rs 4 lacs.
• However, for a loan amount above Rs 4 lacs, there is a margin of 5% and 15% if you pursue studies in India and abroad respectively.
• A borrower needs to present guarantee of a 3rd party for a loan amount above Rs 4 lacs.
• When the loan amount exceeds Rs 7.5 lacs, a collateral security of considerable value should be submitted. Or there should a co-obligation of guardian, parents or a 3rd party. Even the future income of the student needs to be assigned for paying the installments.

Repayment:

The student loan obtained from State Bank of Hyderabad can be repaid in a time period of 5 to 7 years after repayment is begun. 
To know more about the rate of interest, processing fee or other terms and conditions of State Bank of Hyderabad Student Loans, you can click on http://www.sbhyd.com/  

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• Development Credit Bank Limited Student Loans
• Dena Bank Student Loans
• Central Bank Student Loans
• Bank of Rajasthan Student Loans
• State Bank of Indore Loans

State Bank of Mysore was set up as Bank of Mysore Ltd in 1913, under the patronage of the then Government of Mysore. It became a unit of the State Bank of India in the year 1960. The education loan offered by the State Bank of Mysore is also known as the Gnanamitra Educational Loan. This student loan scheme was launched to meet the educational expenses of the meritorious students in India and abroad. Scroll down this page to learn more about student loans of Mysore Bank. 

Eligible Courses

The various courses eligible for State Bank of Mysore education loan are undergraduate and postgraduate courses in areas of Engineering, Dental Science, Architecture, Medicine, Agriculture and Veterinary Science. Computer Certificate Courses are also eligible, if offered by reputed institutes approved by the department of electronics or certified by a university. Quantum of Loan

The maximum amount of loan offered by the State Bank of Mysore for studies in India and abroad is Rs.10 lacs and Rs.20 lacs respectively. Candidates may even apply online for the State Bank of Mysore student loan. 

Margin

There is a margin of 5% for loans above Rs.4 lacs in India. However, it is 15% for the same amount for studies abroad. 

Repayment of State Bank of Mysore Education Loan

Candidates are given a time period of 60-84 months for the repayment of the education loan. Repayment commences either one year after the completion of the course or six months after one gets a job, whichever happens earlier. 

Security

Various kinds of securities are charged by the State Bank of Mysore for issuing the education loan.

• For Education loans above Rs.4 lacs and up to Rs.7.50 lacs -collateral security
• For a loan above Rs.7.50 lacs and up to Rs.10 lacs - collateral security, guarantee of third party or guarantee of guardians.

In order to learn more about student loans of Mysore Bank browse through http://www.statebankofmysore.co.in/

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