Eligibility of Study Loan in Vijaya Bank
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.
Studies in India
- Graduation Courses: BA, B.Com, B.Sc, etc.
- Post Graduation courses: Master & Ph.D
- Professional courses: Engineering, Medical Agriculture, Veterinary, Law, Dental, Management, Computer etc.
- Computer Certificate Courses of reputed Institutes accredited to Dept., of Electronic or Institutes affiliated to University.
- Course like ICWA, CA, CFA, etc.
- Courses conducted by IIM,IIT, IISc, XLRI, NIFT etc
- Professional courses with ICFAI National College.
- Courses offered by M/s. Frankfinn Institute to Air Hostess.
- Pilot Training Programme. ( Government or recognized private institute approved by Director General of Civil Aviation, Government of India).
- Courses offered in India by reputed foreign universities
- Evening courses of approved institutes.
- Other courses leading to diploma/ degree etc, conducted by college/ university approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
- Courses offered by National Institutes and other system of appraising other institution courses depending on future prospects/ recognition by user institution.
- Graduation: For job oriented professional/ technical courses offered by the reputed university.
- Post graduation: MCA, MBA, MS, etc
- Courses conducted by CIMA- London, CPA in USA, etc
Expenses Considered for Loan in Vijaya Bank
Fee payable to college/ school/ hostel.
- Examination/ Library/ Laboratory fee.
- Purchase of books? Equipments/Instruments/ uniforms.
- Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
- Travel expenses/ passage money for studies abroad.
- Purchase of computers- essential for completion of the course.
- Any other expense required to completed the course- like study tours, project work, thesis etc.
- Issuance of DD favouring CET Cell
- Fee payable to the Institution/ Hostel/ Examination fee/ Cost of books/ Travel expenses for studies abroad/ Purchase of computers etc
- Studies in India: Maximum Rs.10.00 lakhs
- Studies Abroad: Maximum Rs.20.00 lakhs
Margin of Education Loan
- Up to Rs.4 lakhs: NIL
- Above Rs.4 lakhs: Studies in India: 5% and Studies Abroad: 15%
- Scholarship Assistantship to be included in the margin. Margin can be brought in as and when disbursements are made on pro-rata basis
- Rate of Interest : BPLR= 13.00%
Repayment of Loan
Repayment will commence one year after completion of course or six months securing a job, whichever is earlier.