Vijaya Bank is one of the apparent banks so as to offer educational loans in India. The major objective of the bank is to make available top quality financial services to its customers. It was established by late Shri. A.B.Shetty with previous enterprising farmers on 23rd October, 1931 as well as became a nationalized bank on 15th April, 1980.
Vijaya Bank education loan is obtainable to the worthy students willing to pursue their higher education in India and abroad. Scroll down the page to learn more on the subject of Students Loans from Vijaya Bank.
Vijaya Bank education loan is obtainable to the worthy students willing to pursue their higher education in India and abroad. Scroll down the page to learn more on the subject of Students Loans from Vijaya Bank.
Candidate's Eligibility
Candidate, who are Indian nationalized, are eligible to apply for the loan.
Candidates have need to take admission to pertinent technical or professional courses all the way through entrance examination or else a merit based assortment process.
Courses Eligible for Vijaya Bank Student Loan
- 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 allied to university or accepted by Department of Electronics), courses offered by foreign universities and part time evening courses.
- Studies Abroad
Vijaya Bank offers education loans to students keen to pursue their higher education in abroad. It proffer financial assistance to the students to complete graduation, post graduation and pilot training programs authorized by competent authority of a particular nation. It also provides loans to students keen to join the programs offered by CPA in USA and CIMA-London.
Expenses Covered by the Loan
- The education loan assists the students to pay their college, hostel, examination, library and laboratory fees.
- Vijaya Bank student loan also covers the different educational expenses of the students which embrace travel expenses, cost of books as well as other necessary articles, refundable deposit, caution money, building fund and also issues DD in favour 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 laces as well as Rs.20 laces for study in abroad,
Margin
There is a margin of 5% along with 15% (above Rs.4 lacs) for studies in India and abroad correspondingly.
Security
Vijaya Bank too charges different kinds of security designed for issuing education loans.
- Loan over Rs.4 laces to near Rs.7.50 laces -Guarantee of third part (equally India and abroad)
- Loan over Rs. 7.50 laces to Rs.10 laces (India) and Rs.15 laces (Abroad security refuge.
- Rs. 15 laces to Rs.20 laces (Abroad) - security refuge over and above guarantee of third party.
Repayment of Loan
India-
A loan amount up to Rs.7.5 laces wants 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 laces
Abroad-Five
To seven years is the instant stated for loans up to Rs.15 laces. Applicant taking loans above Rs.15 laces have to pay back the sum within a time of five to ten years.
In order to learn more concerning interest rates look through http://www.vijayabank.com/
In order to learn more concerning interest rates look through http://www.vijayabank.com/
