A Syndicate Bank’s Education Loan Scheme is known as SyndVidya
SyndicateBank’s involvement in education dates back to the decades prior to the Nationalisation of Banks. The Bank was also the first to set up a string of Rural Training Institutes aimed at empowering the young India in rural areas through entrepreneurial education and training.
Continuing this commitment to education, the Bank has introduced a comprehensive Education Loan Scheme-SyndVidya, which is more student responsive and parent friendly. The Scheme covers the entire spectrum of educational needs from the school education to super speciality courses including overseas courses. The scheme makes available need based finance to cover expenses related to education such as fees payable to College, Hostel, Examination, Library, Laboratory fees, caution deposit/building fund/refundable deposit upto 10% of tuition fee, Cost of Books, Equipments, Travel expenses for studies abroad etc. Only capitation fees, donation or external coaching fee are not covered. The loan scheme carries liberal limits of Rs.10.00 lac for courses within the country and Rs.20.00 lac for overseas courses. The scheme which is attractively priced at the Bank’s prime lending rate and other details are furnished below :
a) Studies in India
b) Studies abroad
NOTE: In all the above cases, the parent / guardian shall join the transaction as co-borrower
In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.