IOB Vidya Jyoti Education Loan
Tuesday, January 21, 2020
Education & Career
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IOB Vidya Jyoti Education Loan Scheme

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Eligibility : 



a) Studies in India

Loan is made available for

b) Studies abroad:

Loan Details

Coverage of expenses 



Scholarship/ assistantship to be included in margin.


Documents should be executed both by the student and parent / guardian as joint borrower.

Rate of Interest

For interest rate check out this link, IOB Interest Rate

Interest to be debited monthly on simple basis during the repayment holiday/moratorium period.

Interest servicing - It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.

For prompt servicing of interest for all months during the study period when repayment holiday is specified for interest / repayment under the scheme, an interest rebate @1.00 % is allowed. Interest concession at 0.50% on all Education Loans to Girl Students for pursuing education in India and Abroad is allowed. The interest rebate thus calculated will be credited back to loan account at the time of commencement of repayment of the principal sum.


Repay the loan in equal monthly Instalments for a maximum period of 5 - 7 years excluding holiday period.

Contact Details

Indian Overseas Bank
Head Office :PB No.1384, 66, Rajaji Salai, Chennai 600 001, Tamil Nadu
Telephone No. : 044-25233231/25231253/25231254
Fax No. : 044-25231278
Customer Care Centre : ( 044 ) 39898911
National Toll Free No.: 1800 425 1400
E-mail : Contact Now
Website : visit

Click here for the nearest bank branches

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.

   Professional Education Loan , Study Abroad Loan , Indian Overseas Bank Education Loan

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