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Eligibility
For studies in India
A student of Indian Nationality is eligible to apply for the loan provided he/she has secured 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 that are approved by the Government. Loans worth Rs.50000 are also offered to students who wish to do 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 lakh 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 upto 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 student completes his/her course or the 3rd month of securing a job, whichever is earlier. The loan is to be repaid within a maximum period of 6 months depending upon the repayment capacity.
For Studies Abroad
Eligibility
Meritorious students who have been selected for any course in foreign universities are eligible to avail of the foreign education loans
Amount of Loan
The bank provides Rs.1000000 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. Repayment of the loan is to commence 6 months after the student completes the course or completion of 3rd month after securing a job, whichever is earlier. For updated information please visit Vijaya Bank Educational Loan |
