Syndicate Bank

Syndicate Bank also run an Education Loan Scheme – SyndVidya that has helped lakhs of student to get themselves enrolled in the desired courses in India and abroad. The schemes is widely appreciated among people all over the India due to its easy and accessible nature. The Bank is the first to start Rural Training Institutes, which was aimed at empowering the young India in rural areas through entrepreneurial education and training.

Eligibility Criteria:
Must have secured admission on the basis of merit to professional / technical / other courses through entrance test / selection process. Deviation / relaxation is also permitted under special circumstances
Must have secured admission to Foreign universities / Institution (for studies abroad)

Courses:
Graduation: B.A., B.Com, B.Sc., etc.
Post graduation: Masters & Phd.
Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer and many more.
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.
ICWA, CA, CFA
IIM, IIT, IISc, XLRI, NIFT
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
Other Foreign Diploma courses are not eligible.

Quantum of Loan:
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.
Maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad.

Education Loan Margin:
For loans upto Rs.4 lac - No Margin required.
For loans above Rs.4 lac - 5% for study in India and 15% for study abroad.

Rate of Interest:
For loans upto Rs.7.50 lakhs - PLR minus 2.00%
For loans above Rs.7.50 lakhs - PLR minus 2.50%
No processing charges / service charges are levied for educational loans

Security:
For loans upto Rs.4.00 lac - NIL.
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 instalments.

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

Capability Certificate:
Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.

For processing fees, prepayment penalty, documentation charges, mortgage and other charges, please visit the bank website www.syndicatebank.in