| Eligibility : Student
- 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
Courses
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.
Quantum
- Studies in India : Maximum Rs.10.00 lakhs
- Studies Abroad : Maximum Rs.20.00 lakhs
Margin
- 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
Security
- 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)
Repayment 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
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