Education Loans in India
Tuesday, January 21, 2020
Education & Career
Find Us on FacebookFollow Us on TwitterFollow Us on Google Plus tellafriendYoutube
Search by Voice
       Pin It       tellafriend        

South Indian Bank Education Loan Scheme

Vitjnan Pradhan Scheme | SIB-Excellence | Vidyanidhi Scheme

Education Loan Scheme - For Meritorious Students

The scheme is to provide financial assistance on reasonable terms to:

Eligibility : 


  • Student should be an Indian National
  • Secured admission to professional/ technical courses through Entrance Test / Selection process
  • Secured admission to foreign University/ Institutions.


  • All Govt. recognized Diploma courses
  • Engg. Degree including B.Tech, Biotechnology
  • Engg. PG
  • MCA
  • M.Sc Biotechnology
  • Computer courses recognised by Central Electronics Department (CED)
  • Medical Degree
  • Medical PG
  • Management courses Full time MBA, MBM, PGDM
  • BDS
  • B.V.Sc & A.H
  • M.V.Sc
  • B.Sc Agriculture
  • M.Sc.Agriculture
  • B.Sc. Nursing
  • B. Pharm
  • Bachelor of Physio Therapy
  • Overseas studies

Loan Details

Coverage of Expenses

  • Fee payable to college/school/hostel.
  • Examination/ Library/ Laboratory fee.
  • Purchase of books/ equipments/ instruments/ uniforms.
  • Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
  • Travel-expenses/ passage money for studies abroad.
  • Purchase of computers - essential for completion of the course.
  • Any other expenses required to complete the course- like study tours, project work, thesis, etc.


Need based finance subject to repaying capacity of the parents/ students with margin and the following ceilings.

  • For studies in India - maximum Rs.7.50 Lakhs
  • For studies Abroad - maximum Rs.15.00 Lakhs


  • Upto Rs. 4.00 Lakhs - Nil.
  • For loans above Rs. 4 lacs
    - Studies in India - 15%
    - Studies abroad - 25%

Scholarship/ assistantship to be included in the margin.
Margin to be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.


Please contact the nearby branch

Rate of Interest

Fixed at BPLR +TP - 2.50% ( floor 12.00%)

Penal interest @2% to be charged for loans above Rs.2 lacs for the overdue amount and overdue period.

Processing/ upfront charges need not be collected.

1% interest concession if the interest is serviced during the study period.


Repayment holiday/ Moratorium shall be Course period + 1 year (which may be extended up to 2 years in case student is not able to complete the course within the scheduled time) OR 6 months after getting job, whichever is earlier.

The loan to be repaid in 60 months after the holiday as above.
The accrued interest during the holiday period is to be added to the principal and repayment as EMI.

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

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.