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Syndicate Bank Educational Loan

Syndicate bank gives various kind of Educational Loan. The scheme is known as SyndVidya.

Contents

  1. Eligibility Criteria for Syndicate Bank Educational loan
  2. What is the Maximum Amount of loan offered by Syndicate bank
  3. Rate of Interest for Syndicate bank educational loan
  4. What is processing charge of syndicate bank educational loan?
  5. Repayment period of Syndicate bank educational loan:
  6. Required Documents to be Submitted for Loan Approval
  7. How to Apply to Syndicate Bank Educational Loan?
  8. How to Apply for Syndicate bank educational loan offline
  9. 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.

Read Syndicate Bank Internet Banking | SBI Educational Loan | SBI Student Loan | ICICI Bank Student Loan too.

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?

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