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Read about Vijaya Bank education loan for studies in India & abroad. Know the interest rate, eligibility criteria, margin money, repayment tenure, and more.
Founded in 1931, Vijaya Bank is now a fully owned subsidiary of Bank of Baroda. On April 01, 2019, Vijaya Bank was merged into the Bank of Baroda. Vijaya Bank education loan to study abroad also ceased to exist and students can now apply for Bank of Baroda education loan to fund their abroad studies.
To know about Vijaya Bank study loans, students can read about the Bank of Baroda Scholar scheme that provides education loans to students who want to study overseas.
Let's explore the features and details of the current abroad education loan product...
Check Your Education Loan Eligibility
The interest rate of Vijaya Bank abroad education loan is:
Vijaya Bank Education Loan Details
Loan Tenure |
Up to Rs.7.5 lakh: Moratorium period + 10 years |
Interest Rate |
Listed Universities: 8.25% for boys, 7.75% for girls, |
Moratorium Period |
6 months after the course completion |
Margin Money |
Listed Universities: NIL |
Processing Fees |
Rs.10,000 + GST (Rs.10,000 refundable); Additional property valuation charge of Rs. 7,500, in case of Real Estate collateral |
Vijaya Bank margin money for listed universities is nil. For unlisted universities, margin money up to Rs.4 lakh is nil whereas, for amounts above Rs.4 lakh, the margin money is 10%.
Read More About: Education Loan Without Collateral for Abroad Studies
The maximum loan amount that can be taken from Vijaya bank to study in any of the premium institutes is INR 80 lakhs. To study in any other university or college, the maximum loan amount that can be taken as a Vijaya Bank study loan for overseas is INR 60 lakhs.
The Vijaya Bank moratorium period is up to 6 months after the program gets completed. Maximum loan tenure for Vijaya Bank abroad education loan can be up to 15 years for loan amount exceeding INR 7.5 lakhs.
For a loan amount above INR 7.5 Lakhs, Vijaya Bank only offers a loan with collateral. The documents required are:
Read more about: Types of Collateral Security Acceptable for an Education Loan
Check Your Education Loan Eligibility
An education loan from Vijaya Bank can be taken from any branch closest to your place of residence.
GyanDhan, India’s first education loan financing marketplace, helps students get the best education loan product for foreign education from government- SBI and private banks- ICICI Bank as well as NBFCs- HDFC Credila. Check your loan eligibility now and get an abroad education loan at the lowest interest rate and faster approval.
Check Your Education Loan Eligibility
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