|
|
|
South Indian Bank Ltd.
Vitjnan Pradhan Scheme (VPS)
| Eligibility : |
| |
Student
- Students desirous of pursuing professional courses in India and
abroad.
|
Loan Details
|
| |
Coverage of Expenses
- Fees
- Caution deposits and refundable deposits
- Cost of study books / equipments
- Cost of uniform
- Hostel Boarding and lodging
- One time premium of life insurance policy of ICICI-Prudential without
maturity return covering the entire period of loan with sum assured
equal to the loan amount.
Borrower
Borrower shall be the student him/herself if he/she is major (completed
18 years). In the case of minor students, parents shall be the borrowers.
Margin
- Up to Rs. 4 Lacs : NIL
- Above Rs.4Lacs - Studies in India - 15%
- Studies abroad - 25%
Security
Upto Rs 4 lacs - Guarantee of parents. No security required
Above Rs.4 lacs -Guarantee of parents together with collateral security
|
| Rate of Interest |
| |
Fixed at BPLR +TP - 2.50% ( floor 12.00%)
|
| Repayment |
| |
Repayment period will start from 1 year
after qualifying exam or six months after obtaining employment, whichever
is earlier. For overseas studies, the holiday is restricted to 6 months
fixed after the qualifying examination.
Loan should be repaid in 60 equal monthly installments
after the holiday/moratorium as above.
|
| Contact Details
Head Office
South Indian Bank Ltd.
T.B Road, Mission Quarters, Thrissur 680 001, Kerala, India
Phone : +91-487-2420020, 2420058, 2420113
E-mail : Contact
Now
Website : visit
South Indian Bank Ltd. Regional Offices
|
Note : Since
the rules, regulations, eligibility conditions, repayments and interests rates
etc. are revised by the banks from time to time in keeping pace with the changing
capital market conditions, students and parents are advised to thoroughly check
the terms and conditions of educational loan scheme on offer at the time of application.
|
|
|
