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| COMPARE : EDUCATION LOANS |
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| Vijaya Bank Education Loan |
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| Introduction |
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| Vijaya bank gives loan to aspiring students for graduation courses, professional courses, evening courses of approved institutes, courses offered by National Institutes and other reputed private institutions subject to obtaining prior approval from the credit dept.(Operations), etc. students can also apply for the loan for studies abroad for graduation but for job oriented professional or technical courses from the reputed university and post graduation like MCA, MBA, etc. then courses conducted by CIMA- London, CPA in USA, etc. Bank cover expenses like college fees, hostel/ examination fees, and equipments needed for course, etc. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Fee payable to college / hostel / Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer, Travel expenses / passage money |
Fee payable to college / hostel / Examination / Library / Laboratory, Purchase of books / equipments / instruments, Caution deposit / building fund, Purchase of computer |
| Loan Amount |
Maximum Rs.20.00 lakhs
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Upto Rs. 4.00 Lakhs : NIL
Above Rs. 4.00 lakhs :Studies Abroad:15 %
Scholarship / Assistantship to be included in the margin. Margin can be brought in as and when disbursements are made on prorate basis
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Upto Rs. 4.00 Lakhs : NIL
Above Rs. 4.00 lakhs :Studies in India: 5 %
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| Tenure |
Min. - 5 Yrs.
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Min. - 1 Yrs.
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| Interest Rate |
13.40
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13.40
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| Time to Process Loan |
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7 days |
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 Fees & charges
Fees & charges
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Security
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Security |
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Upto Rs. 4 lacs: No Security
Above Rs. 4 lacs to Rs. 7.50 lacs: Suitable Third Party Guarantee
Above Rs. 7.50 lacs to Rs. 15 lacs: Tangible Collateral security of suitable value of loan or third party guarantee with assignment of future income of the student for payment of installments.
Rs 15 lacs to Rs. 20 lacs: Tangible Collateral security for full value of loan and third party guarantee with assignment of future income of the student for payment of installment. |
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Terms & Conditions
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Terms & Conditions |
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Repayment will commence one year after completion of the course or 6 months after securing a job, whichever is earlier.
Up to Rs. 15 lakh: 5 - 7yrs
Above Rs. 15 lakh: 5-10yrs
1% interest concession is provided for loanees if the interest is serviced during the study period. |
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