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        

Vijaya Bank Education Loan Scheme


Eligibility : 


  • Student should be an Indian National and should have secured admission to the relevant Professional/ Technical courses in India or Abroad through Entrance Test/ Merit Based Selection process


a) Studies in India

  • Graduation courses : BA, B.Com., B.Sc., etc.
  • Post Graduation courses : Masters & Phd.
  • Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer courses (BCA / MCA / BSc-CS, etc)
  • Animation /Cartooning/ multimedia/Graphic Designing, etc. where the course period should be one year and above & the courses conducted by reputed Institutions and the Institute to fulfil any of the following criteria:
    • NASSCOM rated/certified
    • AICTE affiliated
    • Accredited to any UGC affiliated university in India
    • Affiliated to reputed Foreign Universities 
  • Computer certificate courses of reputed institutes accredited to Dept., of Electronics or institutes affiliated to University.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIM, IIT, IISc, XLRI.NIFT etc.
  • Professional courses with ICFAI National College.
  • Coursed offered by M/s. Frankfinn Institute of Air Hostess.
  • Pilot Training Programme. (Government or recognized private institute approved by Director General of Civil Aviation, Government of India).
  • 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. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

a) Studies abroad

  • Graduation: For job oriented professional / technical courses offered by the reputed university.
  • Post graduation: MCA, MBA, MS, etc.
  • Courses conducted by CIMA-London, CPA in USA, etc.
  • Pilot Training Programme offered by recognized institutions abroad approved by competent authority in that country. Example in USA the Federal Aviation Administration, Government of USA.
    The licences issued by such institutions should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General of Civil Aviation, Government of India.

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 expense required to complete the course – like study tours, project work, thesis etc.
  •  Issuance of DD favouring CET Cell
  • Fee payable to the Institution/hostel/examination fee, cost of books, travel expenses for studies abroad, purchase of computer, etc.


  • Studies in India : Maximum Rs.10.00 lakhs
  • Studies Abroad : Maximum Rs.20.00 lakhs


  • Upto Rs. 4 Lac - Nil
  • For loans above Rs. 4 lacs
    - Studies in India - 5%
    - Studies abroad - 15%

Scholarship / Assistantship to be included in the margin. Margin can be brought in as and when disbursements are made on prorate basis


  • Upto Rs. 4 lacs - No Security
  • Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh-Suitable Third Party Guarantee
  • Above Rs. 7.50 lacs to Rs. 10 lacs - Tangible Collateral security for full value of loan
    Above Rs. 7.50 lacs to15 lacs (Abroad) - Tangible Collateral security of suitable value of loan or third party guarantee with assignment of future income of the student for payment of  instalments
  • Rs 15 lacs to Rs. 20 lacs (Abroad) - Tangible Collateral security for full value of loan and third party guarantee with assignment of future income of the student for payment of  instalment
Rate of Interest
  • BPLR - 1.25 % p.a. Floating

Simple interest basis during study & repayment holiday period (upto one year after completion of the course or six months after securing a job, whichever is earlier) 


The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 1 year or 6 months after getting job whichever is earlier.

Contact Details

Head Office
Vijaya Bank,
41/2 ,M G Road , Bangalore-560001 (Karnataka)
Phone : 080 - 25584215
Fax : 080-41134200
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.