Syndicate Bank Education Loan

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The SyndVidya scheme of Syndicate bank is supposed to provide education loan to the meritorious students of India to study in India or Abroad.

Bank Name	Amount of Loan	Repayment Tenure	Interest Rate
	10 - 20 lacs	10 - 15 years	2.25 - 2.75 %

Eligible Courses

Some of the approved courses after which the candidate is supposed to get a diploma / post-graduate / graduate degree. The college / university providing the degree should be eligible for the scheme and they should also be recognized under some of the central / state government
ICWA and CFA like course
NIFT, IIT, XLRI or IIM like autonomous institute’s courses
The courses of India offered by the foreign university
The courses that leads to the diploma / degree from any one of the recognized university.
Nursing course / teacher training course and B. Ed. are the other courses for which the applicant can apply for education from Syndicate bank under the scheme.

For studying abroad the student can apply for the graduation and post-graduation courses.
Graduation course should be only job oriented
MS, MBA and MCA like post graduation course student can also apply for the education loan
The pilot training, shipping and aeronautical courses providing degree / diploma can apply for it however the student should be destines to do job in India.

Expenses considered for loan includes the fee needed to be submitted to the college / hostel / tuition etc.
Other expenses that include purchasing of books, equipment, computer if necessary.
The expenses like for project work and thesis / research work etc.
The expenses which are recommended necessary by the university for the student

The finance is usually based on the need of the applicant however the maximum amount of laon that can be granted by the bank is given below
10 lakhs for India
20 lakhs for abroad

For loans of amount up to 4 lakhs the interest rate is base rate + 2.25 %
For loans of amount above to 4 lakhs the interest rate is equal to base rate + 2.75 %
The students belonging to the category SC / ST or girls category are exempted from the interest rate equal to 0.5 % per year as per the rates above
SC ST girls are exempted 0.25 % more hence a total of 0.75 %

No documentation or processing fee is taken for the loan

Third party guarantee collateral Security for loans of more than 4 lakhs and up to 7 lakhs
Tangible third party security equal to loan amount for loan above 7 lakhs