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

Bank of Baroda offers education loan to students willing to continue their higher education in India or abroad. The various loan options provided by Bank of Baroda are Baroda Vidya, Baroda Gyan and Baroda Scholar. Scroll down the page to learn more about Bank of Baroda education loan. 

BARODA VIDYA

It is an education loan scheme offered to the parents of students undergoing school education. These loans are provided for studies between Nursery and 12th standard. Processing and documentation charges, margin and security are not required for taking loans under this scheme. However, the candidates are required to meet certain criteria for getting the loans. He or she has to be an India national who resides in India. Students are required to take admission in a recognized school, high school or junior school. The maximum loan amount offered is Rs. 4 lacs. 

BARODA GYAN

It is a loan scheme specially meant for the students pursuing undergraduate, postgraduate, professional and other type of courses in India. 

Eligible Courses

• All undergraduate and postgraduate courses. Loans are also provided for doctorate programs.
• Professional courses in areas like fashion technology, engineering, event management, agriculture, mass communication, medical, architecture, agriculture, hospital management, veterinary, hotel management, interior designing, management and others. Certificate courses in computer offered by reputed institutions certified under the Department of electronics or institutions which are affiliated to universities.
• Programs that are offered by XLRI, IIM, NIFT, IISC, IIT, diploma and degree courses and ICWA, CA, CS, CFA other courses.
• Diploma and degree courses offered by various colleges and universities which are approved by UGC, AICTE, ICMR, Govt., AIBMS and others.
• Courses, which are conducted by renowned foreign universities in India.
• Evening courses offered by institutes, which are approved by reputed associations or courses, which are conducted by reputed national and private institutions.

Eligibility Required for Students

Students should be Indian nationals residing in India. Applications will be considered eligible for the loan if they have received admission through entrance test for merit based selection procedure. The maximum loan offered is 10 lacs. 

BARODA SCHOLAR:

It is offered to the students willing to go abroad for pursuing their technical and professional studies. The various courses eligible for this loan are graduate, doctorate, post graduate, technical courses and professional courses offered by renowned universities. Candidates seeking loans need to be Indian Nationals. The maximum amount of loan offered is Rs. 20 lacs. 

Related Pages-

 In order to learn more about rate of interest and required documents browse throughhttp://www.bankofbaroda.com/

• Vijaya Bank Students Loans