South Indian Bank

South Indian Bank’s Educational Loan - Vitjnan Pradhan

Objective of the Scheme :

South Indian Bank provides educational loan for Students desirous of pursuing professional courses in India and abroad.

Eligibility of the Student  :

  • The student should be an Indian National
  • The student  should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test / Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Liability of Finance :

Expenses allotted for the Loan :

  • 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, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
  • Travel expenses / passage money for studies abroad.
  • Purchase of computers -essential for completion of the course.*
  • Insurance premium for student borrower, if applicable
  • Any other expense required to complete the course - like study tours, project work,  thesis, etc. * ( * maximum expenses under these three heads put together, should not exceed 20 % of total tuition fees payable for completion of the course)  

Margin :

  • Up to Rs. 4 Lacs : NIL
  • Above Rs.4Lacs :
    • Studies in India : 5%
    • Overseas studies : 15%

Processing Fee / Mortgage Charges : NIL

Rate of Interest :

a) (Upto & including Rs.4 Lacs  For Boys)

B.R. + 5.50 %

b) Above Rs.4.00 Lacs

B.R. + 6 %

Repayment Period of the Loan :

  • Repayment period will start from 1 year after qualifying exam or six months after obtaining employment, whichever is earlier. For overseas studies, the holiday is restricted to 6 months fixed after the qualifying examination.
  • Repayment of the loan should be in Equated Monthly Installments as :
  • For loan Upto and including Rs.7.50 Lacs : Upto 10 years.
  • For loans above Rs.7.50 Lacs : Upto 15 years

For more Details, Kindly refer the following link :

http://www.southindianbank.com/content/viewContent.aspx?linkIdLvl2=12&linkId=92&sec=1

To download Application Form, Visit the following link  :

http://www.southindianbank.com/UserFiles/Forms/education_loan.pdf

South Indian Bank’s Educational Loan, SIB-Excellence

Objective of the Scheme :

South Indian Bank  provides Educational Loan to attract talented youths pursuing professional studies in the top prestigious educational institutions in India to our bank .

Eligibility of the Student  :

  • The student should be an Indian National
  • The student  should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Liability of Finance :

Expenses allotted for the Loan :

  • Fees payable to College including examination / library / laboratory fees
  • Caution deposits and refundable deposits( not exceeding 10% of tuition fees for the entire course ).
  • Cost of study books / equipments / computers
  • Cost of uniform
  • Hostel Boarding and lodging
  • One time premium of life insurance policy ( without maturity return ) covering the entire period of loan with sum assured equal to the loan amount

Quantum of Finance :

Max.Rs.10.00 lakhs subject to actual requirement, whichever is lower.

Margin :

Upto Rs. 4 .00 lakhs : NIL

Above Rs. 4.00 lacs : 5%

Moratorium : NIL

Processing Fee / Mortgage Charges : NIL

Rate of Interest         :

Sib Excellence Upto Rs.10 Lakhs

B.R. + 0.90 %

Sib Excellence Above Rs.10 Lakhs

B.R. + 1.90 %

Repayment Period of the Loan :

Repayment will start from 1 year after qualifying exam or six months after obtaining employment, whichever is earlier. Loan should be repaid in 60 equal monthly instalments after the holiday / moratorium as above. No prepayment penalty. Interest during holiday period may be funded / remitted as per option given by the borrower at the time of availment of loan.

For more Details, Kindly refer the following link :

http://www.southindianbank.com/content/viewContent.aspx?linkIdLvl2=12&linkId=479&sec=1

To download Application Form, Visit the following link  :

http://www.southindianbank.com/UserFiles/Forms/education_loan.pdf 

South Indian Bank’s Educational Loan - Vidyanidhi Scheme

Objective of the Scheme :

The Scheme is beneficial for students who have newly secured admission to selected Professional Colleges in Kerala. The Scheme enables the student to pay 'refundable deposit' demanded by the educational institution. Application must be in the name of the student if he/she has completed 18 years. In case of minor students, parents shall be the borrowers.  Payment direct to the College Management as prescribed in the prospectus

Eligibility of the Student  :

  • The student should be an Indian National
  • The student  should have secured admission to a higher education course in recognized institutions Entrance Test / Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Liability of Finance :

Expenses allotted for the Loan :

  • Fees payable to College including examination / library / laboratory fees
  • Caution deposits and refundable deposits ( not exceeding 10% of tuition fees for the entire course ).
  • Cost of study books / equipments / computers
  • Cost of uniform
  • Hostel Boarding and lodging
  • One time premium of life insurance policy ( without maturity return ) covering the entire period of loan with sum assured equal to the loan amount

Moratorium : NIL

Processing Fee / Mortgage Charges : NIL

Rate of Interest :

B.R. + 4.90 %

To download Application Form, Visit the following link  :

http://www.southindianbank.com/UserFiles/Forms/education_loan.pdf

For more Details, Kindly refer the following link :

http://www.southindianbank.com/content/viewContent.aspx?linkIdLvl2=12&linkId=428&sec=1

 

 

 

 

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