Education Loan Interest Calculator Syndicate Bank

Hello, I want to take the education loan from the Syndicate Bank and I want to know the details of the interest rates.

[Shaleen]

Hello, here I am providing you the details of the education loan provided by Syndicate Bank as under:

Interest rates:
Interest (PLR presently 13.25%)
For loans upto Rs.4.00 lakhs - PLR minus 1.50%
For loans above Rs.4.00 lakhs - PLR minus 1.00%
Girl students and students belonging to SC/ST category are eligible for concession of 0.50% on the above rates.
Girl students under SC/ST category are eligible for a further concession of 0.25% on the above rates.
(Total concession of 0.75%)

Repayment
In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.

Margin
For loans upto Rs.4 lac - No Margin required.
For loans above Rs.4 lac - 5% for study in India and 15% for study abroad.

Security
For loans upto Rs.4.00 lac - NIL
For loans above Rs.4.00 lac and upto Rs.7.50 lac - Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
For loans above Rs.7.50 lac - Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.

Student Eligibility
Should be an Indian National
Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process
Deviations/relaxations are also permitted under special circumstances.
Secured admission to foreigh university / institutions.
The student who is a major representing himself or a minor student represented by parent or guardian.