Syndicate Bank Educational loan in India | SyndVidha Educational Loans for Indian Citizens only through SyndVidhya scheme

Syndicate Bank Educational loan in India : 

Syndicate Bank is one of the best bank to provide educational loans for Indian studies and abrade studies. THE Syndicate Banks giving maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies in abroad. The people who are looking for the educational loans, Syndicate Bank is one best option. They are giving loans for general graduation and post graduation also giving for special technical courses. The applying candidate must be a Indian citizen only. The applicants must take print out of the Synd Vidhya from the below given links and fill with correct information. If you want know more details about Syndicate bank SyndVidha scheme to contact your nearest Syndicate Banks. 

Eligibility Criteria  

Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality. Must have secured admission on the basis of merit to professional/ technical/other courses through entrance test/selection process. Deviation/relaxation is also permitted under special circumstances. Must have secured admission to Foreign universities/Institution (for studies abroad).

Courses Eligible 

General Courses :  Graduation: B.A., B.Com, B.Sc., etc. and  Masters & Phd in Post graduation.

Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. In respect of Management studies, apart from University affiliation, course should also be approved by All India Council for Technical Education. For Computer education, the recognized training Institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics Accreditation of Computer Course (DOEACC) Scheme.

• Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by 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 acceptable to the Bank

Maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad 

Margin Details : 

• For loans up to Rs.4 lac - No Margin required.
• For loans above Rs.4 lac - 5% for study in India and 15% for study abroad

Security : 

• For loans up to Rs.4.00 lac - NIL.
• For loans above Rs.4.00 lac and up to Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
• For loans above Rs.7.50 lac - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan installments.

NOTE : In all the above cases, the parent / guardian shall join the transaction as co-borrower

Interest (PLR presently 13.25%) details : 

• For loans upto Rs.4.00 lakhs - PLR minus 1.50%
• For loans 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. (Total concession of 0.75%)
• Simple interest to be charged during the Repayment holiday/Moratorium period.
• Penal interest to be charged as applicable
• No processing charges/service charges are levied for educational loans

Repayment details : 

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

SyndVidya Application form Click Here