::: Vijaya Bank :::

Vijaya Bank

Name of the loan: Vijaya Bank Education Loans

Eligibility:

A Student of Indian Nationality is eligible to apply for the loan provided he/she has secured admission to the institution/college/university.

Courses:

Studies in India

Graduation courses BA, B.Com, B.Sc., etc,
Post Graduation courses: Masters & Ph. D
Professional courses, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer Education, etc.
Computer certificate courses of reputed institutes accredited to Dept. of Electronics or Institute affiliated to the Universities.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.
Evening courses of approved institutes.
Other courses leading to diploma/degree etc. conducted by the Colleges/Universities approved by the UGC/Govt./AICTE/AIBMS/ICMR etc.
Courses offered by National Institutes and other reputed private institutions subject to obtaining prior approval from the Credit Dept. (Operations) HO.

Studies Abroad

Graduation: For job oriented professional/technical courses offered by the reputed university.
Post graduation: MCA, MBA, MS, etc.
Courses conducted by CIMA-London, CPA in USA, etc.
Expenses Considered for Loan:
Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.

Loan Amount :

Studies in India: Maximum Rs.7.50 lakhs
Studies abroad: Maximum Rs.15 lakhs

Margin :

Studies in India: Up to Rs.4.00 lakhs - Nil
Above Rs.4.00 lakhs - 5%
Studies abroad: 15%

Rate of Interest:

Amount Slab Rate of interest per annum - Floating
Up to Rs. 4 lakhs PLR = 11.50%
Above Rs. 4 lakhs PLR + 1 = 12.50%

Repayment:

Repayment Holiday Moratorium: Study period of the course + 1 year or 6 months after getting the job, whichever is earlier.

Security:

Loans up to Rs.4.00 lakhs: No security

Loans above Rs.4.00 lakhs: Collateral security equal to 100% of the loan amount

A guarantor acceptable to the bank