Syndicate Bank: Education Loans

Eligibility of Syndicate Bank Education Loan

Any student who is major and 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 course through entrance test selection process.

Must have secured admission to foreign university institution (for studies abroad).

Eligible Courses

Studies in India

• Graduation: BA., B.Com., B.Sc., etc.
• Post Graduation: Master & Ph.D.
• Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, 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 course leading to diploma degree etc. conducted by college universities approved by UGC Govt. AICTE AIBMS ICMR etc. courses offered by National Institutes and other reputed private institutions acceptable to the Bank.

Studies Abroad

• Graduation: For job oriented professional technical courses offered by reputed universities.
• Post Graduation: MCA, MBA, MS etc.
• Courses conducted by CIMA- London, CPA in USA etc.
• Foreign Diploma courses are not eligible

Quantum of Loan

Need based finance to meet expenses such as fee payable to college school hostel examination fees, cost of books, travel passage fare for studies abroad etc.

Capitation fee Donation External coaching fee are not eligible for finance.

Maximum of Rs. 10 lacs for studies in India and 20 lacs for studies Abroad.

Margin of Education Loan

• For loans up to Rs.4 lacs – No Margin required
• For loans above Rs.4 lacs 5% for study in India And 15% for Abroad.

Interest (PLR presently 13.50%)

• For loans up to Rs.7.50 lakhs –PLR minus 1.50%
• For loans above Rs.7.50 lakhs- PLR minus 2.00%
• No processing charges service charges are levied for education loans

Security of Loan

• For loans up to Rs.4 lacs – NIL
• For loans above Rs.4 lacs and up to Rs.7.50 lacs – Collateral in the form of satisfactory third party guarantee acceptable to the bank.
• For loan above Rs.7.50 lacs – Collateral security assignment of future income of the student for payment of a loan installments.

Note: In all the above cases, the Parents Guardian shall join the transaction as surety

Repayment of Loan

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

Capability Certificate

Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.

Click here to download the form