Education Loans in India
Tuesday, January 21, 2020
Education & Career
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Syndicate Bank Education Loan Scheme

SyndVidya - A Syndicate Bank's Education Loan Scheme

Eligibility : 


  • Should be an Indian National.
  • Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process. Deviations/relaxations are also permitted under special circumstances.
  • Secured admission to Foreign universities/ Institution (for studies abroad).
  • The student who is a major representing himself or a minor student represented by parent or guardian.


a) Studies in India

  • Graduation: B.A., B.Com, B.Sc., etc.
  • Post graduation: Masters & Phd.
  • Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. In respect of Management studies, apart from University affiliation, course should also be approved by All India Council for Technical Education. For Computer education, the recognised training Institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics Accreditation of Computer Course (DOEACC) Scheme.
  • Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
  • Courses offered in India by reputed foreign universities.
  • Evening courses of approved institutes.
  • Other courses leading to Diploma / Degree etc. conducted by colleges / universities approved by UGC / Govt./ AICTE / AIBMS / ICMR etc.
  • Courses offered by National Institutes and other reputed private institutions acceptable to the Bank.

a) Studies abroad

  • Graduation : For job oriented professional/technical courses offered by reputed universities.
  • Post Graduation: MCA, MBA, MS. Etc.
  • Courses conducted by CIMA-London, CPA in USA etc.
  • Other Foreign Diploma courses are not eligible.

Loan Details

Coverage of Expenses

  • Need based finance to meet expenses such as fee payable to college / school / hostel, examination fee, cost of books, travel / passage fare for studies abroad etc.
  • Capitation fee / donation / external coaching fee are not eligible for finance.


  • For studies in India - maximum Rs. 10 lacs
  • For studies Abroad - maximum Rs. 20 lacs


  • For loans up to Rs.4.0 lacs - No Margin
  • For loans above Rs. 4 lacs
    - Studies in India - 5%
    - Studies abroad - 15%


  • Upto Rs. 4 lacs - No Security
  • For loans above Rs.4.00 lac and upto Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank
  • For loans above Rs.7.50 lac - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan installments

NOTE: In all the above cases, the parent / guardian shall join the transaction as co-borrower

Rate of Interest

  • For loans upto Rs.4.00 lakhs - PLR minus 1.50%
  • For loans above Rs.4.00 lakhs - PLR minus 1.00%
  • Girl students and students belonging to SC/ST category are eligible for concession of 0.50% on the above rates.
  • Girl students under SC/ST category are eligible for a further concession of 0.25% on the above rates.
    (Total concession of 0.75%)
  • Simple interest to be charged during the Repayment holiday/Moratorium period.
  • Penal interest to be charged as applicable
  • No processing charges/service charges are levied for educational loans

In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.

Contact Details

Head Office
Syndicate Bank,
Post Box No.1, Manipal- 576 104, (Udupi Dist) Karnataka
Phone (EPABX):   0820-2571181 to 2571196  (16 lines)
Fax : 0820-2570266

Corporate Centre
Syndicate Bank,
II Cross, Gandhinagar, Bangalore-560 009, Karnataka
Phone : 080- 2226 7545 / 2226 7548 / 2226 6889 / 2226 6256 / 2226 5959
Fax : 080-2220 1134
Website : visit
Syndicate Bank 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.