Syndicate Bank Education Loan in India - Overview:Apply Now
Syndicate Bank offers student loan to pursure higher education. Syndicate Bank education loans are very popular among the students. Syndicate Bank provides one of the best student loan scheme SyndVidya.
As we know that Syndicate Bank is oldest and major commercial bank in India. Syndicate Bank headquarters is in Manipal, Karnataka.
Features and Benefits: Syndicate Bank Education Loan will help you to meet your financing requirements for higher studies. As per Government and RBI, Syndicate Bank offers education loan to students who planned for higher education in India or abroad. Education loan interest in syndicate bank is very low. In this time period Syndicate Bank will provide loan for the other expense related to the course. You can pay back the loan amount after completing the course.
Rate of Interest: Syndicate Bank rate of interest are following
|Amount of loan||Applicable Rate of Interest|
|Up to Rs 4.00 lacs||MCLR+1.50%pa|
|Above Rs 4.00 lacs up to Rs 7.50 lacs||MCLR+1.75%pa|
|Above Rs 7.50 lacs||MCLR+2.75%pa|
- During the study period simple interest is charged up to commencement of repayment.
- Employees of Government Department / Public Sector Undertakings/Corporations and Blue Chip Companies children can avail 1% concession in applicable rate.
- For SC/ST boy students 0.50% concession
- Girl students of other than SC/ST category 0.50% concession
- For Girls students of SC/ST category 0.75% concession
- The overall concession extended to these categories shall not exceed 1%.
Processing Charge: No Processing charges for Syndicate Bank education loan
Repayment Period: The estimated time to repay the loan amount is five to seven year. Once a candidate completed the course then after one year or 6 months after securing the job whichever is earlier, then after they can start paying the loan amount.
Eligibility for Syndicate Bank Education Loan in India:
Syndicate bank loan scheme in India:
- Permitted courses leading to Post Graduate/ Graduate degree, PG and PhD from Affiliate from by UGC/ Govt./ AICTE/ AIBMS/ ICMR colleges or universities.
- Courses offered by IIM, IIT, IISc, XLRI, NID, NIFT etc.
- Diploma courses and Regular Degree courses like shipping, pilot training, Aeronautical, Nursing etc.
- Reputed universities offering approved courses in India
Syndicate Bank Education Loan for Abroad:
- Graduation from reputed universities offering job oriented professional and technical courses.
- Post Graduation: MBA, MCA, MS etc from reputed universities.
- Course offered by CIMA-London, CPA in USA etc.
Documents required for Syndicate Bank Education loan in India:
To avail the education loan facility from Afinoz, the basic necessities is to qualify loan application. And to qualify it following things are required.
- The applicant must be Indian resident.
- Photocopy of mark sheet of the candidate’s latest qualifying exam for school or college in India.
- Admission proof for the course he/she has applied such as semester fee receipt.
- Recently clicked two passport size photograph of candidate, guarantor and parents.
- Any of the national id card photocopy such as voter id, Driving license, passport, adhaar card, of applicant, guardian and guarantor.
Note: Banks that provide student loans may request more documents and proof.