Vijaya Bank Education Loan

Vijaya Bank was established on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. In the year 1958 the bank became a scheduled bank. Below are the details on educational Loan by Vijaya Bank.

• Student must have Indian Nationality.
• Take a secured admission to technical or professional courses in India as or abroad through entrance exam or any selection process based on merit.

Education in the India:

• Graduation courses such as B. Sc, B.Com, BA, etc.
• Post Graduation courses such as MCA, MCM etc & Phd.
• Professional Courses like Medical, Engineering, Agriculture, law, Veterinary, Dental, Computers, Management, etc.
• Cartooning, Animation, graphic designing, multimedia etc. courses for which duration is 1 year or 1+ and offered by standard institutes for fulfilling following criteria:
• + NASSCOM rated/certified
• + Accredited to any of the UGC joined university in India
• + AICTE affiliated
• + Affiliated to standard foreign universities
• Computer courses of standard institutes qualified to electronics department or qualified institutes or universities.
• Courses such as CA, ICWA, CFA etc.
• Courses offered by IIT, IIM, XLRI.NIFT, IISc, etc.
• Professional courses of ICFAI National College.
• Coursed conducted by M/s. Frankfinn Institute of the Air Hostess.
• Programme for Pilot Training.
• Courses obtained in India by the standard foreign universities.
• Evening courses of the approved institutes.
• Diploma or degree courses conducted by colleges or universities offered by government, UGC, AICTE, ICMR, AIBMS etc.
• Courses conducted by National or other reputed universities.

• Graduation courses which are job oriented technical or professional offered by standard universities.
• Post graduation courses such as MBA, MCA, MS, etc.
• Courses conducted by CPA - USA CIMA in London, etc.
• Pilot training Programme.

• Fees payable to the school, college or hostel.
• Laboratory, Examination, or Library fee.
• Fees required for purchasing equipments, books, uniforms or instruments.
• Building funds, caution deposit, or the deposit which is refundable supported by the institution receipts or bills.
• Passage money or travel expenses for those Education in abroad.
• Buy the computers which are useful for the course.
• Other expenses required for completion of course such as study tours, thesis, project work etc.
• Issuance of the DD favoring CET Cell.

• The maximum amount is Rs. 10.0 lakhs for the Education in India.
• The maximum amount is Rs. 20.0 lakhs for the Education abroad.

• No margin on the loan up to Rs 4 lakhs.
• The margin on loans greater than Rs 4 lakhs are 5 percent for students in India and 15 percent for the students in Abroad.

Assistantship or the scholarship is included in the margin.

• No security is needed on loan up to Rs. 4 lakh
• Guarantee of third party is required on loan greater than Rs. 4lakh and below Rs. 7.50 lakh.
• For the loan between Rs. 7.5 lakh - Rs.10 lakh, Tangible Collateral security that is 100 percent of the loan value.
• For loan between Rs.7.5 - Rs.15 lakh (Abroad), tangible security, guarantee of third party and assignment of student's future income is needed.
• Loan between Rs 15 lakh - Rs. 20 lakh (Abroad), tangible security, guarantee of third party and assignment of student's future income is needed.

Head Office
M G Road,
Bangalore 560001
Phone - (080) 25584215
Fax - (080) 41134200
Website - http://www.vijayabank.com

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.