Vijaya Bank Education Loan:

Vijaya Bank not only provide education loan to the influential students but also to the students from Economically Weaker sections. Tough competition in every field has made a student to go for higher study as a result need for huge amount of money is required to fulfill their dreams. Government of India and Vijaya Bank extends financial assistance to all those students who have good academic record and keen desire to continue further studies. Vijaya Bank Education Loan is a great way of studying abroad when one is unable to qualify for a full time scholarship program.

Vijaya Bank Education Loan Interest Rate:

The Vijaya Bank Education Loan interest rate is competitive and attractive for the students applying to study in India and abroad.

Vijaya Bank Education Loan rate is BR + 2.25%

Vijaya Bank Education Loan rate for others is BR + 2.75%

Girl students are given a concession of 0.50%

Vijaya Bank Education Loan interest rate has a penal interest rate of 2% for studies abroad.

Vijaya Bank Education Loan Eligibility And Expenses Covered:

For Vijaya Bank Education Loan can be taken for the following purposes and courses. If one wants to study in India one can go for graduation, post graduation, various professional courses and different type of computer courses. Courses which are conducted or hosted by eminent institutes like ICWAI, CA, IIM and IIT or courses offered by UGC held program qualify for Vijaya Bank Education Loan eligibility.

Graduation, job oriented professional or technical courses, PG courses or MCA, MBA, MS etc. courses eligible for Vijaya Bank Education Loan to study abroad are: MCA, MBA, MS and courses conducted by CIMA-London, CPA in USA etc.

The eligibility process has a process of margin money if the loan is taken for more than 4 lacs.

Studies In India 5%

Studies Abroad 15%

Other Major Qualifications For Vijaya Bank Education Loan Eligibility Are:

1To qualify for Vijaya Bank Education Loan eligibility the candidate should be an Indian national.

2Admission to technical kind of courses in India is possible through Vijaya Bank Education Loan eligibility.

3For admission abroad the student should have qualified in the merit selection process of the university.

4The maximum loan for studies in India is at the maximum is Rs.10 lacs

5The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The Expenses Covered By Vijaya Bank Education Loan Interest Rate Loan Are:

1.College Fee

2Hostel charges

3Library charges

4Caution deposit

5Money to go abroad

6Money to purchase a computer

7Money for Study tours, Project work etc.

Vijaya Bank Education Loan Review And Documentation:

According to the Vijaya Bank Education Loan review the student would need to provide the following documents for the processing of the loan.

1Fully completed loan application form

2Two Photographs

3Mark sheet for the exam one has qualified for

Vijaya Bank Education Loan review and documentation for the salaried co- borrower

1Bank Statement

2Income Tax Statement for the last two years

3A brief about the asset and liabilities possessed by the borrower

4Salary slip

Vijaya Bank Education Loan review and documentation for the self employed individual

1Bank Statement

2Income Tax Return

3Profit and Loss Account or Balance Sheet of the Company

4Proof of Source Of Income

5Brief about the asset and liabilities possessed by the borrower.

Vijaya Bank Education Loan Review And Application Procedure:

Vijaya Bank Education Loan can be applied online on their website http://vijayabank.com/vijaya/vijaya/internet-en/menus/edu-app/loanform

Education Loan form can also be downloaded from their website and thereafter they can applied. People can go ahead and fill up the form in which the details of the student and the co- borrower are mentioned along with the necessary documentation. People can also submit the application at the branch and the loan will be disbursed in installments to the college or institute directly.

Vijaya Bank Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back within a span of 10 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. The pre closure process is stated by the branch of the bank. Late fee charges will be as per the agreement.

Vijaya Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on Vijaya Bank Education Loan eligibility and Vijaya Bank Education Loan Rate etc. are on the official website at   http://vijayabank.com/vijaya/vijaya/internet-en/menus/loans-advances/retail-lending-schemes/educational-loans.html