Eligibility
A student of Indian nationality is eligible to apply for the loan provided he/she has secured admission to the following courses in the institution/college/university.
 

Courses Eligible
»	Studies in India
		School education including plus 2 stage.
		Graduation courses: BA, B.Com., B.Sc., etc.
		Post Graduation courses: Masters & Ph.D.
		Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
		Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
		Courses like ICWA, CA,CFA, etc.
		Courses like IIM, IIT, IISc, XLRI, NIFT, etc.
		Courses offered in India by reputed foreign universities.
		Evening courses of approved institutes.
		Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ICMR etc.
		Courses offered by National Institutes and other reputed private institutions . Banks may have the system of appraising other institution courses depending on future prospects/recognition by user institutions.
»	Studies abroad
		Graduation: For job oriented professional/technical courses offered by reputed universities.
		Post Graduation: MCA, MBA, MS etc.
		Courses conducted by CIMA-London, CPA in USA etc.

Expenses Considered for Loan
Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.

 

Loan Amount
	For studies in India Rs. 7.5 lacs.
	For studies abroad Rs. 15 lacs

Margin
	Upto Rs. 4 lacs	Nil
	Above Rs.4 lacs	Studies in India - 5%
		Studies abroad -15%

Rate of Interest
	Upto Rs. 4 lacs	10.50 %
	Above Rs.4 lacs	11.50 %

Repayment Holiday Moratorium
Study period of the course + 1 year or 6 months after getting the job, whichever is earlier.

 

Security
	Upto Rs. 4 lacs	No security
	Above Rs.4 lacs		Collateral security equal to 100% of the loan amount
			A guarantor acceptable to the bank

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Head Office
41/2, M G Road, Trinity Circle
Bangalore - 560 001
Gen: 080-5584066, Fax: 080-5598040
E-Mail: vijbank@bgl.vsnl.net.in
Website: www.vijayabank.com