ING Vysya Bank Educational Loan- Student Loan in India

ING Vysya Bank Educational Loan Scheme

Amount of Loan

The amount of loan provided by the ING Vysya Bank vary with the types of courses to be pursued. However the amount that is lent by the bank can be broadly divided into two categories. The details are:

For Studies within India - A maximum loan of Rs.7.5 Lacs is provided to candidates pursuing higher studies within India.
For studies Abroad - The loan amount for pursuing higher studies abroad can at most be Rs. 15 Lacs.

Time for processing

The maximum time required for the processing of the loan is two weeks.

Rate of Interest

The rates of interest of educational loans provided by ING Vysya Bank can vary from time to time. The present rate of interest is as follows:

For studies within India: 16.5% rate of interest.
For studies abroad: 16.5% rate of interest.

Tenures

The tenure for repayment depends on the course length.

Repayment

Repayment of loan commences after the completion of the course.
The educational loans provided by the ING Vysya Bank (erstwhile Vysya Bank Limited) offers an amount of money which is equivalent to most other national banks. The security conditions are also not very stringent. Being a private sector bank having global exposure the banking operations are faster compared to many other banks. These facilities may prove advantageous for students who opt for educational loans from ING Vysya banks.

Also See

Public Sector Banks to offer Insurance linked Education Loans