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Old December 6th, 2017, 10:07 AM
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Join Date: May 2011
Default Re: Education Loan Interest Rate in Syndicate Bank

SyndicateBank's contribution in education goes back to the decades before the Nationalization of Banks. The Bank was likewise the first to set up a string of Rural Training Institutes went for engaging the youthful India in provincial regions through entrepreneurial instruction and preparing.

Proceeding with this responsibility regarding instruction, the Bank has presented a far reaching Education Loan Scheme-SyndVidya, which is more understudy responsive and parent benevolent. The Scheme covers the whole range of instructive needs from the school training to super strength courses including abroad courses.

The plan makes accessible need based back to cover costs identified with instruction, for example, charges payable to College, Hostel, Examination, Library, Laboratory expenses, alert store/building reserve/refundable store upto 10% of educational cost expense, Cost of Books, Equipments, Travel costs for thinks about abroad and so forth. Just capitation expenses, gift or outer instructing charge are not secured.

SYNDVIDYA Loan Scheme Details

Least criteria

The understudy ought to be an Indian National. Ought to have secured admission to an advanced education course in perceived organizations in India or Abroad through

Passage

Test/Merit Based Selection process after finishing of HSC (10plus 2 or equal).

Quantum of Loan

Studies in India:

Most extreme up to 10 Lakhs

Studies Abroad

Most extreme up to 20 Lakhs

Certification/ Surety/Insurance security

Credits up to 4 Lakhs:

No security. However Parent/s to be joint borrower/s.

Credits above 4 Lakhs up to 7.50 Lakhs:

Parent/s to be joint borrower/s
Insurance security in the shape appropriate outsider assurance ought to be taken.

Outsider certification will be deferred in the event that the credit is qualified for Credit Guarantee scope under the Scheme

Advances above 7.50 Lakhs:

Parent/s to be joint borrower/s
100% Unmistakable insurance security of suitable esteem worthy to bank.

Margin

Up to 4 lakhs:

Nil

Above 4 lakhs:

Studies in India - 5%

Studies Abroad - 15%

Be that as it may, up to 7.50 lakhs edge will be Nil, if advance is qualified for the Credit Guarantee scope.

Rate of Interest

Amout of Loan
Relevant rate of Interest

Up to 4 Lakhs
MCLR +1.50% p.a

Above 4 Lakhs up to 7.50 Lakhs
MCLR+1.75% P.a

Above 7.50 Lakhs

MCLR+2.75% p.a

KYC Norms

Candidate to submit evidence of Identity, Xerox duplicate of admit card, confirmation letter, photograph of the candidate.

Handling and Documentation Charges

Nil
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