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Student Loans from Vijaya Bank
Posted Date: 04 Dec 2007 Resource Type: Articles/Knowledge Sharing Category: Education
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Posted By: Mala Member Level: Diamond
Rating:  Points: 5
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Introduction:
Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka with the aim of providing premier financial services of great value, superior financial returns and economic security to its customers. During the 1960s, Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with it in the period between 1963-68. The bank was nationalized on 15th April 1980, and has a network of 978 branches, 52 Extension Counters and 171 ATMs that span all 29 states and 3 union territories in the country. Student Loans from Vijaya Bank are available to young students of India who aspire for the best of higher education in India or abroad with the aim of realizing their dream careers on successful completion of their education.
Eligibility Criteria for Vijaya Bank Education Loans
Courses Eligible:
For studies in India, Vijaya Bank Student Loans are available for students seeking admissions to 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 and Foreign University courses of reputed institutes offered in India.
For studies abroad, Vijaya Bank Student Loans are available for students seeking admissions for Graduation in job-oriented professional/ technical courses offered by reputed universities and Post Graduation in streams like MCA, MBA and MS etc. Besides, Vijaya Bank Student Loans are also available for courses conducted by CIMA-London, CPA - USA etc.
Eligibility of Candidates: Any candidate seeking to avail the Vijaya Bank Student Loans must be an Indian national and have secured admission to an academic, professional or technical course in an Indian or Foreign university. He / She is required to apply with the mark-sheet of the qualifying examination and proof of admission.
Loan Amount : A candidate seeking to avail the Vijaya Bank Student Loans can apply for a maximum loan amount Rs.7.50 lakhs for studies in India and Rs. 15 lakhs for studies abroad respectively. No Security is needed for loans upto Rs. 4 lakhs. For Loans above Rs.4 lakhs, collateral security equal to 100% of the loan amount and a guarantor acceptable to the bank is required.
Vijaya Bank Student Loans takes care of the following expenses of a student :
Fees payable to colleges/ schools/ hostels.
Examination / Library / Laboratory fees of the Institute.
Cost of books, equipment, instruments and uniforms.
Passage fare for international travel.
Cost of computers needed to complete the course.
Loan Margin of Vijaya Bank Student Loans :
Loan Margin is nil upto Rs. 4 lakhs for studies in India or abroad.
Loan Margin is 5% for study in India and 15% for study abroad for amounts exceeding Rs. 4 lakhs.
Rates of Interest for Vijaya Bank Student Loans :
Upto Rs 4 lakhs: 12%
Above Rs 4 lakhs: 13%
Interest rates for Vijaya Bank Student Loans are floating and are liable to change from time to time.
Repayment of Vijaya Bank Student Loans :
Repayment of the loan commences from 1 year after the student completes his/her course or the 6th month of securing a job, whichever is earlier.
E-mail Address Vijaya Bank : customercell@vijayabank.com
Related link: www.vijayabank.com
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