Syndicate bank gives various kind of Educational Loan. The scheme is known as SyndVidya.
- Eligibility Criteria for Syndicate Bank Educational loan
- What is the Maximum Amount of loan offered by Syndicate bank
- Rate of Interest for Syndicate bank educational loan
- What is processing charge of syndicate bank educational loan?
- Repayment period of Syndicate bank educational loan:
- Required Documents to be Submitted for Loan Approval
- How to Apply to Syndicate Bank Educational Loan?
- How to Apply for Syndicate bank educational loan offline
- Contact Information for more queries
Eligibility Criteria for Syndicate Bank Educational loan
- A student who is a major and an Indian Citizen.
- A student who is minor but represents himself by his parent. (Student Must be an Indian)
- It is mandatory that student got through the admission process on the basis of an entrance or selection test.
- Relaxation can be shown under some exceptional or special cases.
- In order to apply for studies abroad he must have secured admission in any of the overseas universities.
- Any professional courses, graduation, post graduation under any stream, etc are permitted. But these courses need to be approved by UGC/AICTE or government of India.
What is the Maximum Amount of loan offered by Syndicate bank
- The loan can be up to 4 lac.
- The loan above 4 lac and up to 7.50 lac needs third party’s guarantee.
Rate of Interest for Syndicate bank educational loan
- The rate of interest is up to 12.75%.
- For girl students and students who belong to SC/ST category get a concession of 0.50% on the rate of interest.
What is processing charge of syndicate bank educational loan?
There is no processing charge for this loan.
Repayment period of Syndicate bank educational loan:
- The amount taken has to be refunded within 5 to 7 years after the completion of course.
- The payment should start after one year of course completion.
Required Documents to be Submitted for Loan Approval
- An admission letter of your course.
- A slip of course fee, tuition fees, laboratory fees, hostel fees, etc,
- A duly filled syndicate bank educational loan form with a passport size photograph.
How to Apply to Syndicate Bank Educational Loan?
- Log on to http://www.syndicatebank.in/adminui/educationloan.aspx
- Fill the application form and take a printout of it, then submit it to the nearby branch with all the attached documents above.
How to Apply for Syndicate bank educational loan offline
- Go to nearby syndicate bank branch and collect the loan application form.
- Fill the application form, you can even take the assistance of the banker in doing it.
- Then submit the filled form with all the documents.
- Your loan will be issued within 8 to 10 working days.
Contact Information for more queries
here is the list of all branches of Syndicate bank - http://www.syndicatebank.in/scripts/ContactUs.aspx. Interested people can also call them at 0820-2571181,0820-2572390