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.
A) Studies in INDIA ( Indicative List )
B) Studies Abroad
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.
# 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 loan||Tangible 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||NA||Tangible 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
For details on education loans offered by Vijaya Bank, click here.