Syndicate Bank

Syndicate Bank’s Education Loan - SyndVidya 

Objective of the Scheme :

Syndicate Bank provides financial support to deserving / meritorious students for pursuing higher education in India and abroad.

Eligibility of the Student  :

  • The student should be an Indian National / NRI
  • 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 ).
  • However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases, banks will have to adopt appropriate criteria based on employability and reputation of the institution concerned.

Studies in India :

  • Approved courses leading to graduate/ post graduate degree and PG diploma conducted by recognized colleges/ universities recognized by UGC / Govt. / AICTE /  AIBMS / ICMR etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
  • Regular Degree / Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation / Shipping, if the course is pursued in India.
  • Approved courses offered in India by reputed foreign universities.
  • Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt./ AICTE / AIBMS / ICMR etc
  • Teacher training course / Nursing course / B.Ed

Studies over a Wide Area :

  • 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.
  • Degree / diploma courses like aeronautical, pilot training, shipping etc provided, these are recognized by competent regulatory bodies in India / abroad for the purpose of employment in India / abroad.

Liability of Finance :

Quantum of Finance:

Need based finance subject to repaying capacity of the parents / students with margin and the following ceilings.

  • Studies in India - Maximum Rs.10.00 lakh
  • Studies abroad - Maximum Rs.20.00 lakh

Margin :

  • Upto Rs.4 lakh : Nil
  • Above Rs 4 lakh : Studies in India - 5%
  • Studies abroad : 15%

Processing & Documentation Charges:

No processing charges and Documentation charges.

Rate of Interest :

Upto Rs.4.00 lakhs Base Rate + 2.25%

Above Rs.4.00 lakhs Base Rate + 2.75%

Concessional rate of interest:

  • Girl students and students belonging to SC / ST category are eligible for concession of 0.50% per annum on the above rates.
  • The girl students under SC / ST category are eligible for a further concession of 0.25% on the above rates ( Total concession 0.75% )
  • Simple interest would be charged during the repayment holiday / moratorium period.

Repayment Period of the Loan :

  • Repayment holiday / moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier.
  • For loans up toRs.7.50 lakhs up to 10 years
  • For loans aboveRs.7.50lakhs up to 15 years

For more Details, Kindly refer the following link :

http://www.syndicatebank.in/downloads/SyndVidya.pdf

Syndicate Bank’s Education Loan - Synd Super Vidya

Objective of the Scheme :

Providing financial support to deserving / meritorious students for pursuing higher education in Reputed Business schools / Technical / Professional Institutes in India.

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 ).

Courses Eligible :

Technical courses and Post Graduate Masters degree courses and one year Executive Development Programme offered in India by Premier Technical and Management Institutes.

Liability of Finance :

Quantum of Finance: Maximum `20.00 lakhs

Margin : 5%

Processing Fee / Mortgage Charges : NIL

Rate of Interest :

BR+0.50% if interest is serviced during moratorium period, otherwise 1% additional interest 0.50% concession to girl students. However the rate of interest will not be less than the Base Rate.

For more Details, Kindly refer the following link :

http://www.syndicatebank.in/downloads/SyndSuperVidya.pdf

Syndicate Bank’s Education Loan SyndVidya – For Vocational Courses

Objective of the Scheme :

Providing financial support to deserving / meritorious students after passing 10th Class for pursuing vocational courses / skill development in India and abroad offered by recognized institutions.

Eligibility of the Student  :

  • The student should be an Indian National.
  • The student should have passed 10th standard examination.
  • Should have secured admission to a Government recognized vocational training course which is employment oriented.

Courses Eligible :

Vocational / skill development courses of duration from 6 months to 3 years leading to certificate / diploma offered by recognized institutions, such as ITIs, ITCs and polytechnic institutions.

Liability of Finance :

Expenses allotted for the Loan :

  • Tuition / course fee fixed by Government / authorities appointed by Government.
  • Examination / Library / Laboratory fee.
  • Caution deposit, Cost of books, equipments etc.,
  • Any other reasonable expenditure.

Quantum of Finance: 

Need based finance subject to repaying capacity of the parents / students with following ceilings.

  • Courses of duration up to 1 year - Rs.50,000/-
  • Courses of duration above 1 year - Rs.1,50,000/-

Margin amount: NIL  

Processing Fee / Mortgage Charges : NIL

Rate of Interest:

  • Interest linked to Loans-Base Rate of the Bank at monthly compounding.
  • Interest rate at present - Base Rate + 2.25%.
  • Simple interest will be charged up to Moratorium period.

Concessional rate of interest:

  • Girl students and students belonging to SC / ST category are eligible for concession of 0.50% per annum on the above rates.
  • The girl students under SC / ST category are eligible for a further concession of 0.25% on the above rates ( Total concession 0.75% )
  • Simple interest would be charged during the repayment holiday / moratorium period.

Repayment Period of the Loan :

  • For courses of duration up to 1 year: Repayment in EMIs for 5 years after a moratorium period of 6 months from completion of course.
  • For courses of duration above 1 year: Repayment in EMIs for 7 years after a moratorium period of 12 months from completion of course.

For more Details, Kindly refer the following link :

http://www.syndicatebank.in/downloads/SyndVidya-Vocational.pdf

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