Vidya loan is an educational loan given by Federal bank to the students who aim to take up higher studies but due to unavailability of funds step back. Bank gives loan to students of Indian nationality and NRIs. Student can apply for loan for studies in India or abroad.
Highlights
Study Abroad
Study India
Course
Graduation
Graduation
Loan Type
Term Loan
Term Loan
Loan Amount
Rs 0.50 Lakhs to Rs 25 Lakhs
Min. - Rs 50000
Max. - Rs 2500000
Margin Money
for foreign studies 10 %
No margin
Tenure
Min. - 3 Yrs.
Min. - 3 Yrs.
Interest Rate
Male Female
Up to & inclusive of Rs 4 Lakh 16.25 15.75
Above Rs 4 Lakh 17.75 17.25
Male Female
Up to & inclusive of Rs 4 Lakh 16.25 15.75
Above Rs 4 Lakh 17.75 17.25
Time to Process Loan
7 days
7 days
Fees & charges
Fees & charges
Study Abroad
Study India
Security
Security
Up to Rs1 Lakh - Personal guarantee of two persons with Basic Pay Rs 5000/- or annual declared income Rs 1.25 Lakh
Above Rs 1 Lakh - Collateral security is needed (if immovable property – 200% of the limit is required).
Terms & Conditions
Terms & Conditions
Monthly / periodical interest during the holiday period to be serviced and Balance at the end of the course to be repaid in equal monthly installments. And repayment should begin when the student secures employment or within 12 months after the completion of the course, whichever is earlier.