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Syndicate Bank Education Loans

Started by Kalyan, Jul 28, 2008, 03:18 PM

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Kalyan

Syndicate Bank Education Loans

Courses:

    * An applicant can apply for Syndicate Bank Education Loans if he wants to study graduate, postgraduate or doctoral programs in India.

    * You will also be considered eligible for the loan if you plan to study computer certificate courses of recognized institutes having accreditation to Department of Electronics or affiliation to universities in India.
    * An applicant who wants to pursue professional programs in Engineering, Agriculture, Medicine, Veterinary Science, Law, Computer and other streams in India will also be considered eligible.
    * Specialized courses such as CFA, ICWA; programs by the likes of IIMs, IISc; Evening programs; diploma courses sanctioned by bodies like UGC, AICTE or government; programs of foreign universities or recognized national institutes in India can all be considered for loan.
    * If you plan to study abroad a postgraduate course like MBA or MCA, employment-oriented graduate program by recognized university or one by CPA in the US or CIMA-London in abroad, you can apply too.

Eligibility:

    * Any Indian National, who is an adult or a minor student represented by a guardian can apply for the loan.
    * The applicant will be considered eligible if he gets admission to a professional or vocational program on the basis of a selection procedure or an entrance test. However, there can be exceptions made in special cases.
    * If you plan to study a program from a reputed foreign university abroad, you can also apply.

Amount of Loan, Margin & Security:


The amount of SyndVidya Loan is decided on the basis of the applicant's requirement. The maximum amount of loan for studying in India is Rs 10 lacs while it is Rs 20 lacs for studying abroad.

    * There is no margin on a loan amount upto Rs 4 lacs.
    * However on a loan amount above Rs 4 lacs, there is a margin of 5% and 15% for studying in India and abroad respectively.
    * If you apply for a loan amount above Rs 4 lacs, you need to submit a 3rd party as a guarantee.
    * When the amount exceeds Rs 7.5 lacs, you need to submit a collateral security along with 25% margin that covers the amount of loan. In this case, you also need to assign the future income of the student for paying the installments.

Expenses taken into Consideration:


Several kinds of expenses are covered by Syndicate Bank Education Loans. The college, hostel or school fee and even exam fee is covered by the loan. Other expenses like cost of buying books, travel expenses, cost of essential equipment, caution deposit, building fund and refundable deposit are also taken into account.

Repayment:


You can repay the loan in 5 to 7 years beginning from 6 months after getting a job or 1 year after completing the course, whichever happens earlier.

For knowing the rate of interest and other details of Syndicate Bank's Education Loan Scheme, you can click on http://syndicatebank.in/scripts/SyndVidya.aspx

sajiv


Syndicate Bank Education Loans
"Syndvidya Educational loan" is the loan facility offered by the Syndicate Bank for the deserving students to carry out their education.

   1. Eligibility of Students
   2. Courses Eligible
   3. Loan amount
   4. Interest rate
   5. Repayment

Eligibility of Students
Students who have secured admission on basis of merit to a professional/technical course through entrance exam/selection process in India or any of the foreign university/institution.
A major student must represent himself, while a minor student must be represented by his parents or guardians of Indian Nationality.

Course Eligibility

Graduation/ Post graduation / Professional Courses, computer courses postgraduate courses overseas etc.
Management courses approved by AICTE.
Professional courses in Engineering, Dental, Medical, Management, Agriculture, Sciences etc.
Courses like ICWA, CA, CFA and courses conducted by IIT, IIM, IIS etc.

Loan amount

A maximum of Rs.5 lakhs for studies within the country and Rs.15 lakhs for studies abroad.

Interest rate
Up to Rs.4 lakhs: PLR minus 1%
Above Rs.4 lakhs: PLR minus 1.5 %

Repayment
In 5-7 years commencing one year after completion of the course or 6 months after securing a job whichever is earlier.


kbrtechedu

Every university provide bank options to student to get loan for education which can help to them from more fees. Syndicate bank gives loan in very low rate interest. Student can get education without any tension cause of education loan.