Website : syndicatebank.in/
Bank Type : Nationalized Bank
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. Other Foreign Diploma courses are not eligible.
Provided study loan amount in India : Upto 10 Lakhs
Provided study loan amount in Abroad : Upto 20 Lakhs
Should be an Indian National. Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process. Deviations/relaxations are also permitted under special circumstances. Secured admission to foreigh university / institutions. The student who is a major representing himself or a minor student represented by parent or guardian.
For loans upto Rs.4 lac – No Margin required.
For loans above Rs.4 lac – 5% for study in India and 15% for study abroad.
Interest Rate :
For loans upto 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 educational loans.
In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.
For loans upto Rs.4.00 lac – NIL.
For loans above Rs.4.00 lac and upto Rs.7.50 lac – Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
For loans above Rs.7.50 lac – Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.
NOTE: In all the above cases, the parent / guardian shall join the transaction as co-borrower