Student Education loans in India

Here know the complete information about Student Education Loans offered by Syndicate Bank India.

Syndicate Bank


Studies in India

Eligibility for Education Loan
  • Must be an Indian National.
  • Secured admission to Professional/ Technical courses through Entrance Test/ Selection Process.
Eligible Courses for Education Loan
  • Professional courses like Medical/Engineering/Veterinary/Nursing/Law/Management/PGDRIM/ ICWA/CA/CFA/IIM/ IIT/IISC/XLRI/NIFT and other courses approved by State/ Central Government.
  • All other courses leading to diploma/ degree etc., conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
  • Courses offered by reputed private institutes and national institutes that are acceptable to the bank.
Quantum of Finance
Maximum of Rs. 10.00 lacs for studying in India
Margin
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 5%

Studies in Abroad

Eligibility
  • Must be an Indian National.
Eligible Courses for Education Loan
  • Post graduation/technical courses offered by reputed universities like MCA, MBA, MS and PhD(Doctor of Philosophy) etc.
  • Courses conducted by CIMA - London, CPA in USA etc.,
Quantum of Finance
Maximum of Rs. 20.00 lacs for studies in abroad.
Margin
  • Upto Rs.4,00,000/- -- NIL
  • Above Rs.4,00,000/- -- 15%

Common aspects for Indian and Abroad studies

Security
  • Upto Rs.4.00 lacs - No security
  • Rs. 4.00 lacs to 7.5 lacs - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
  • Above Rs. 7.50 lacs - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.
Rate of Interest
  • Upto Rs.4.00 lakhs - PLR minus 1.50%
  • Above Rs.4.00 lakhs - PLR minus 1.00%
  • Girl students and students belonging to SC/ST category are eligible for concession of 0.50% on the above rates.
  • Girl students under SC/ST category are eligible for a further concession of 0.25% on the above rates.
  • Simple interest to be charged during the Repayment holiday/Moratorium period.
Repayment
In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.
For more details visit Syndicate Bank official website: syndicatebank.in

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