Education Loan from Vijaya Bank



Student should be an Indian National and should have secured admission to the relevant Professional/ Technical courses in India or Abroad through Entrance Test/ Merit Based Selection process. However there is no age restriction for the applicant. 

Courses Eligible

A)  Studies in INDIA   ( Indicative List )

  • Graduation courses : BA, B.Com., B.Sc., etc.
  • Post Graduation courses : Masters & Phd.
  • Professional Courses :Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer courses (BCA / MCA / BSc-CS, etc)
  • Animation /Cartooning/ multimedia/Graphic Designing, etc. where the course period should be one year and above & the courses conducted by reputed Institutions and the Institute to fulfil any of the following criteria
    (i)       NASSCOM rated/certified
    (ii)      AICTE affiliated
    (iii)     Accredited to any UGC affiliated university in India
    (iv)     Affiliated to reputed Foreign Universities 
  • Computer certificate courses of reputed institutes accredited to Dept., of Electronics or institutes affiliated to University.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI.NIFT etc.
  • Pilot Training Programme. (Government or recognized private institute approved by Director General of Civil Aviation, Government of India).
  • Courses offered in India by reputed foreign universities.
  • Evening courses of approved institutes.
  • Other courses leading to diploma/ degree etc, conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ AIBMS/ ICMR etc.
  • Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

B) 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.
  • Pilot Training Programme offered by recognized institutions abroad approved by competent authority in that country. Example in USA the Federal Aviation Administration, Government of USA.
  • The licences issued by such institutions should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General of Civil Aviation, Government of India.

Expenses Considered for Loan

  • Fee payable to college/ school/ hostel.
  • Examination/ Library/ Laboratory fee.
  • Purchase of books/ equipments/ instruments/ uniforms.
  • Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
  • Travel expenses/ passage money for studies abroad.
  • Purchase of computers – essential for completion of the course.
  • Any other expense required to complete the course – like study tours, project work, thesis etc.
  • Issuance of DD favouring CET Cell
  • 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.10.00 lakhs
  • Studies abroad : Maximum Rs.20.00 lakhs

Rate of Interest

Up to Rs 4.00 Lakh

MCLR 1 Year + 1.70%=11.15% p.a. (floating)

Above Rs 4.00 Lakh and up to Rs 7.50 Lakh

MCLR 1 Year + 2.20%=11.65% p.a. (floating)

Above Rs 7.50 Lakh

MCLR 1 Year+1.70%=11.15% p.a. (floating)

 * 0.50% interest concession to girl students. However, ultimate rate of interest charged should not be less than Base Rate in any case.

  • Simple interest to be charged during the study period and up to the commencement of repayment.


  • Upto Rs. 4.00 Lakhs : NIL
  • Above Rs. 4.00 lakhs :Studies in India: 5 % #
                             :Studies Abroad:15 % #

# Scholarship / Assistantship to be included in the margin. Margin can be brought in as and when disbursements are made on prorate basis 


 Amount  Studies in India Studies Abroad  
 Upto Rs. 4 lacs

  No Security   No Security 
Above Rs. 4 lacs to Rs. 7.50 lacs
Suitable Third Party Guarantee   Suitable Third Party Guarantee
Above Rs. 7.50 lacs to Rs. 10 lacs (India) / Rs. 15 lacs (Abroad)  Tangible Collateral security for full value of loanTangible Collateral security of suitable value of loan or third party guarantee with assignment of future income of the student for payment of  instalments
Rs 15 lacs to Rs. 20 lacs   NATangible Collateral security for full value of loan and third party guarantee with assignment of future income of the student for payment of  instalment

Additional conditions applicable for online education loan applications

  • Loan considered for Professional Courses only.
  • Bank is not responsible for non-receipt of any reply from the Bank due to wrong e-mail ID submitted by the applicant.
  • Only those applicants whose place of domicile / permanent address is not exceeding ‘ 10’ Km radius to the nearest branch of Vijaya Bank should apply.
  • The applicant to purchase a DD / PO of Rs.500.00 favouring Vijaya Bank, preferably from the same branch where the education loan is to be availed by the applicant.

For details on education loans offered by Vijaya Bank, click here.