Education Loan in Vijaya Bank

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Education Loan in Vijaya Bank

Vijaya Bank Student Loan Eligibility :

Student should be an Indian National and should have secured admission to the relevant Professional / Technical courses in India or Abroad through Entrance Test / Merit Based Selection process. However there is no age restriction for the applicant.

Courses Eligible for Vijaya Bank Education Loan :

A) Vijaya Bank Education Loan for Studies in India ( Indicative List ) :

  • Graduation Courses : BA, B.Com., B.Sc., etc.
  • Post Graduation Courses : Masters & Phd.
  • Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer courses ( BCA / MCA / BSc – CS, etc ).
  • Animation / Cartooning / Multimedia / Graphic Designing, etc. where the course period should be one year and above & the courses conducted by reputed Institutions and the Institute to fulfil any of the following criteria :
    1. NASSCOM rated / certified.
    1. AICTE affiliated.
    2. Accredited to any UGC affiliated university in India.
    3. Affiliated to reputed Foreign Universities.
  • Computer certificate courses of reputed institutes accredited to Department, of Electronics or institutes affiliated to University.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
  • Pilot Training Program. ( Government or recognized private institute approved by Director General of Civil Aviation, Government of India ).
  • 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 / Government / 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.

B) Education Loan for Studies Abroad :

  • Graduation : For job oriented professional / technical courses offered by the reputed university.
  • Post Graduation : MCA, MBA, MS, etc.
  • Courses conducted by CIMA – London, CPA in USA, etc.
  • Pilot Training Program offered by recognized institutions abroad approved by competent authority in that country. Example in USA the Federal Aviation Administration, Government of USA.

The licences issued by such institutions should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course / training abroad, as per directives of Director General of Civil Aviation, Government of India.

Expenses Considered for Education Loan in Vijaya Bank :

  • Fee payable to college / school / hostel.
  • Examination / Library / Laboratory fee.
  • Purchase of books / equipments / instruments / uniforms.
  • Caution deposit / building fund / refundable deposit supported by Institution bills / receipts.
  • Travel expenses / passage money for studies abroad.
  • Purchase of computers essential for completion of the course.
  • Any other expense required to complete the course like study tours, project work, thesis etc.
  • Issuance of DD favouring CET Cell.
  • Fee payable to the Institution / hostel / examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.

Vijaya Bank Education Loan Amount

  • Studies in India : Maximum ₹ 10.00 lakhs.
  • Studies abroad : Maximum ₹ 20.00 lakhs.

Vijaya Bank Rate of Interest : BPLR – 1.25 % p.a. Floating.

Simple interest basis during study & repayment holiday period ( upto one year after completion of the course or six months after securing a job, whichever is earlier )

Concession for Girl Students : Vijaya Bank has extended a 0.50 % interest concession to Girl Students for loans availed on or after 01.11.2008 and will be effective till 31.12.2010. This interest concession will be extended till closure of the educational loan.

Note : 1% interest concession is provided for loanees if the interest is serviced during the study period. There will be No Pre – payment and No Pre – Closure Charges.

Vijaya Bank Education Loan Margin :

  • Upto ₹ 4.00 Lakhs : Nil.
  • Above ₹ 4.00 lakhs :
    1. Studies in India : 5% #
    2. 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.

Collateral Security for Education Loan in Vijaya Bank :

RankName of the B-SchoolsInfrastructure ( Physical & Academic ) ( 160 )Faculty, Research, Consultancy, MDP & Other Programmes ( 455 )Admission, Curriculum, & Delivery System ( 320 )Placement ( Domestic & International ), USP, Social Responsibility, Networking & Industry Interface ( 465 )Total ( 1400 )
25.Prestige Institute of Management and Research, Indore, Madhya Pradesh74.88163.72177.43153.67569.70
26.Symbiosis Centre for Information Technology ( SOT ), Pune, Maharashtra81.95152.35159.23173.17566.70
27.Bharati Vidyapeeth's Institute of Management Studies and Research, Navi Mumbai, Maharashtra67.58158.86170.32164.95561.71
28.Department of Management Studies-Indian School of Mines University, Dhanbad, Jharkhand84.22168.82150.93152.34556.30
29.Rajagiri School of Management, Kochi, Kerala91.57153.60141.05165.25551.47
30.Punjab College of Technical Education, Ludhiana, Punjab71.56132.08158.29168.07530.00
31.Training and Advanced Studies in Management and Communications Ltd. ( TASMAC ), Pune, Maharashtra58.11162.46165.16141.47527.19
32.Mumbai School of Business, Belapur, Maharashtra60.30144.17166.53152.80523.80
33.Eastern Institute of Management, Kolkata, West Bengal72.76145.74162.29140.66521.44
34.Dayananda Sagar College of Management and Information Technology, Bengaluru, Karnataka76.12130.68161.64147.03515.46
35.M.M. Institute of Management, Ambala, Haryana74.18151.61141.14142.32509.25
36.IIMT Management College, Meerut, Uttar Pradesh
94.56124.76131.96154.75506.02
37.Pillai's Institute of Management Studies & Research, Navi Mumbai, Maharashtra59.81127.90166.10147.14500.95
38.The Business School, University of Kashmir, Srinagar, Jammu & Kashmir74.68150.71138.61133.26497.26
39.Doaba Business School, Mohali, Punjab58.25130.29135.05170.72494.32
40.Accurate Institute of Management and Technology, Grater Noida, Uttar Pradesh75.21115.20143.90154.75489.05
41.Lala Lajpatrai Institute of Management, Mumbai, Maharashtra72.82127.59135.64150.41486.47
42.IIMT Engineering College, Meerut, Uttar Pradesh73.57117.34143.55147.37481.83
43.Desh Bhagat Institute of Management and Computer Sciences, Mandi Gobindgarh, Punjab71.49125.55140.76139.86477.66
44.Kousali Institute of Management Studies, Karnatak University, Dharwad, Karnataka66.80156.62125.21124.41473.04
45.Tilak Raj Chadha Institute of Management and Technology, Yamuna Nagar, Haryana73.43125.11126.06141.34465.93

Additional conditions applicable for Vijaya Bank Online Education Loan Applications

  • Education Loan considered for Professional Courses only.
  • Vijaya Bank is not responsible for non-receipt of any reply from the Bank due to wrong e-mail ID submitted by the applicant.
  • Only those applicants whose place of domicile / permanent address is not exceeding 10 Km radius to the nearest branch of Vijaya Bank should apply.
  • The applicant to purchase a DD / PO of ₹ 500.00 favouring Vijaya Bank, preferably from the same branch where the education loan is to be availed by the applicant.

JEE Main

Application Form Submission 16 Dec 2020 to 16 Jan 2021.