Education Loan calculator Syndicate Bank

Hello sir, I am Sumit Singh. I am from Mumbai. I want you to help me by giving me various details about the education loan of syndicate bank. Can you give me details about it?

[Shaleen]

As you have asked about the education loan of syndicate bank, I am giving
you information about it

Syndicate Bank as per the Government and RBI regulation, offers educational
loans for students who wish to pursue any course in India or abroad at
subsidized interest rates. It will take care of every expense related to the
course, which need to be paid back only after landing a job upon course completion.

Expenses considered for Syndicate Bank Education Loan:

SB education loans are granted purely on the basis of need, which include:

Course fee
Hostel fee
Exam fee
Cost of books, instruments and travel for educational purposes
Other passage fares for international education

Amount of Education Loan:

The applicant can request for a maximum of INR. 10 lakh for studying in India and no more than INR. 20 lakh for studying overseas.


Interest Rates:


Prime Lending Rate is currently 13.25 percent

The loan is expected to be repaid in five to seven years after one year of
completing the course or six months after getting a job. You get an interest
free window period of 6 months till the applicant finds a job.



Security:

For SB Education Loans up to INR. 4 lakhs, there is no requirement for any security by the bank.

For SB Education Loans between INR. 4 lakhs and INR. 7.50 lakhs, a
security in the form of an acceptable third party guarantor is required.



Eligible Courses:


Bachelors in Arts, Commerce & Science.
Masters in Arts, Commerce & Science and MPhil and PhD.

Professional Courses: Engineering, Medicine, Dentistry, Veterinary,
Agriculture, Law, Computer Programming.

Management Courses: BCA, MCA, BBM, BBA, and MBA, approved by All
India Council for Technical Education.

For Computer Studies, the recognized training institution must have
authorization of DOE and Government of India to conduct the course under
Department of Electronics Accreditation of Computer Course (DOEACC)
Scheme.

Computer Certification Courses of renowned institutions attributed to
Department of Electronics or Institutes associated to Universities.

Courses like CA, ICWA, and CFA.

Courses held by IIT, IIM, IISc, XLRI, and NIFT.

Courses provided in India by known international universities.

Mandatory Documentation:

Photocopy of mark sheet of the applicant’s latest qualifying public exam
for school or college in India.

Proof of admission to the course (Fee receipts, Transfer Certificate
obtained from the institute).

Two recent passport size photos of the prospective student, guardian and
guarantor.

Photocopy of any national ID card like passport, Voters ID, Driving
License etc of all the student, parent(s) and guarantor.