Vijaya Bank Education Loan Procedure

Vijaya Bank Education Loan

The loan is for student who wish to attain higher education and need finance for the same.

Eligible Courses
For study programs in India
• All programs which are approved by UGC/ AICTE/Govt./AIBMS etc. for the purpose of attaining graduation, post-graduation or diploma or degree in professional study programs like engineering, management, computers, medical, law etc.
• Courses offered by institutes like IIM, IIT etc.
• Full time Degree and Diploma programs like Aeronautical, shipping and pilotetc and ICWA, CA, etc.

For studies abroad
All Job oriented professional degree and diploma courses such as MCA, MBA, etc.conducted by esteemed universities and colleges abroad and programs conducted by CIMA-London, CPA in USA.

Repayment

Loan purpose Amount Tenure Repayment time period
IBA scheme Up to Rs. 7.5 lacs Up to 10 years Repayment will start1 year after finishing of study program or 6 months after getting a job, whichever is earlier.
More than Rs. 7.5 lacs Up to 15 years
Management Quota All loan amount Up to 10 years
Premier institutes for education like IIM, IIT etc. All loan amount Up to 7 years
For study in business school of Indian college All loan amount Up to 7 years Repayment will start after 18 months of finishing the study program or 6 months after getting a job, whichever is earlier.

Quantum of loan
• For studying in India – Maximum Rs.10 lacs
• For studying abroad- Maximum Rs. 20 lacs
• For Business studies in Indian college – Maximum Rs. 20 lacs
• For studying in premier institutes like IIM, IIT etc. – Maximum Rs. 20 lacs

Margin

Loan purpose Loan Amount Margin
IBA scheme Up to Rs. 4 lacs Nil
More than Rs.4 lacs 5% (in India)15% (abroad)
Management Quota All loan amount 15%
Premier institutes for education like IIM, IIT etc. Up to Rs. 4 lacs Nil
More than Rs.4 lacs 15%
For study in business school of Indian college All loan amount 5%

Rate of Interest

Loan purpose Loan Amount Rate of Interest
IBA scheme Up to Rs. 4 lacs 12.05%
More than Rs.4 lacs 12.50%
Management Quota All loan amount 12.80%
Premier institutes for education like IIM, IIT etc. All loan amount 11.75%
For study in business school of Indian college All loan amount 11.75%

Security

Loan purpose Loan Amount Security
IBA scheme Up to Rs. 4 lacs Nil
From Rs. 4 lacs to 7.5 lacs Collateral security in form of a suitable third party guarantee
Above 7.5 lacs Tangible security along with assignment of future income of the student.
Management Quota All loan amount Tangible security with the value which is 150% of the sanctioned loan amount.
Premier institutes for education like IIM, IIT etc. Up to Rs. 10 lacs assignment of future income of the student
Above Rs. 10 lacs Tangible security which equals the loan value 100% along with assignment of future income of the student.
For study in business school of Indian college All loan amount assignment of future income of the student

Processing Charges: Nil charges

Loan Coverage
• To pay for college fees, hostel fees, exam, lab and library fee
• To pay for caution and refundable deposits.
• To bear the expenses of travel in case of education abroad.

Vijaya Bank Official website: www.vijayabank.com

12 thoughts on “Vijaya Bank Education Loan Procedure

  1. I am studing engineering deploma, so i need some economical help for educational expencess. So i think about your loan process. Plz help….

  2. I NEED EDUCATION LOAN FOR DEGREE COURSE IN INFORMATION TECHNOLOGY OF MY SON.
    PLEASE GIVE ADDRESS OF YOUR BANK NEAR BY NARANPURA FOR ENQUIRY IN DETAILS AND SUBMISSION OF NECESSARY DOCUMENTS.

  3. I studied Post graduate diploma in agribusiness management college are AICTE approved 2 years full time so please provide information about education loan

  4. Am Rashmi R Studying in Dayananda sagar College of Engineering Course Taken Electronics and Communications Engineering, completed second semister. I joined in management quota. Now i required education loan up to 7.5 lak . I hope honorable bank may consider my request, and am having sb account in vijaya bank Malur branch Kolar district.

  5. Dear Sir/mdm,
    I get education loan for BE. Bt repayment ll be delay so that manager daily torcher…. Monthly sent notice and he came with my hm and gave torcher my and family bt in my hm finacial prblm. I get only 2.4lack rupees bt I already put into 1 lack above interest for Bank till he said till 25 lack Total amnt put into Bank so torcher sir…. Please tell me suggestion…… Thank you

  6. Sir
    I am appling for a student loan.and the bank manager is telling that now onword only the intrest will calculate so….as i studied I knew that the education loan’s interest will calculate after course completed…so…wt is the problemwith vijaya bank ?

  7. sir i want to take education loan for my wife but i am staying in diffrent state and my and my account from another state

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