For studies in India

Eligibility :

For studies in India- A student of Indian Nationality is eligible to apply for the Vijaya Bank Education loan provided he/she has offered admission to the institution/college/university.

Approved courses

Full time courses (Diploma, Teachers' Training, graduation or Post graduation and Doctorate studies) in all branches of medicine, engineering, agriculture, CA/ICWA/ACS, Computer Science, Architecture, Business Administration, Law, Arts, Science, Commerce, Hotel Management, Nursing and Pharmacy (except Foreign University Degree courses offered in India).

Amount of Loan

The bank provides a loan of Rs.10000/- for a student's education at a junior college; teacher's training course and other short-term courses approved by the Government. Loans worth Rs.50000/- are also offered to students who wish to pursue a polytechnic course/computer course, or desire to pursue graduation/post-graduation in any discipline, such as arts, commerce, science, pharmacy, agriculture & fisheries .A maximum amount of Rs.4 lakhs is provided for graduation/post-graduation in engineering, architecture, dental science, medicine, chartered/cost accountancy & business administration courses, offered by a reputed institution.

Margin : No margin for loans up to and inclusive of Rs.25000/- and a minimum margin of 25% for loans above Rs.25000/-

Repayment

Repayment of the loan commences from the 6th month after the completion of coursework or 3rd month after getting the job whichever is earlier.

For Studies Abroad

Eligibility

Meritorious students who have been selected for any course in foreign universities are eligible to apply foreign education loans.

Amount of Loan : The bank provides Rs. 10, 00,000/- as a loan for his/her education at a foreign university.

Margin : 25% (To be brought pro rata as and when disbursements are made)

Period of Loan

The loan is repayable in 60 monthly installments. You need to start paying EMIs after 6 month of completion of course or 3 month after securing a job which ever is earlier.

For updated information please visit Vijaya Bank