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ING Vysya Bank Educational Loan- Student Loan in India

ING Vysya Bank Educational Loan Scheme


Student should be an Indian National and should have secured admission to professional / technical curses in India and abroad through Entrance Test/Merit based selection process

Courses Eligible:

Studies in India: (Indicative list)

* Graduation courses: BA, B.Com, B.Sc., etc.

* Post Graduation courses: Masters and PhD.

* Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.

* Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
* Courses like ICWA, CA, CFA etc.

* Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc.

* Courses offered in India by reputed foreign universities.

* Evening courses of approved institutes.

* Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/  Govt./ AICTE/ AIBMS/ ICMR etc.

* Courses offered by National Institutes and other reputed private institutions depending upon future prospects /recognition.

Studies abroad:
* Graduation: For job oriented professional/ technical courses offered by reputed universities.
* Post graduation: MCA, MBA, MS, etc.
* Courses conducted by CIMA- London, CPA in USA etc.

Expenses considered:
* Fee payable to college/ school/ hostel.
* Examination/ Library/ Laboratory fee.
* Purchase of books/ equipments/ instruments/ uniforms.
* Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
* Travel expenses/ passage money for studies abroad.
* Purchase of computers - essential for completion of the course.
* Any other expense required to complete the course - like study tours, project work, thesis, etc.

Loan Amount:
• Studies in India - Maximum Rs.7.50 lakhs
• Studies abroad - Maximum Rs.15.00 lakhs

Rate of Interest:
•           Up to Rs 4 lacs: IVRR
•           Above Rs 4 lacs: IVRR +1% p.a
Up to 1% interest concession is provided for loanees if the interest is serviced during the study period


Studies in India: Upto Rs 4 lacs - Nil
• Above Rs 4 lacs - 5%
• Studies Abroad: 15%


  • Up to Rs 4 lacs: No security

  • Above Rs 4 lacs and up to Rs 7.5 lacs: Collateral in the form of a 'third party guarantee' having net worth of 100% of the loan amount.

  • Above Rs 7.5 lacs: Collateral security equivalent 100% of the loan amount and assignment of future income of the student for the payment of installment.


Repayment Holiday / Moratorium: Course period + 1 year or 6 months after getting a job whichever is earlier. Interest has to be serviced during the course period. The loan to be repaid in 5-7 years after commencement of repayment.

Processing Fee:
Processing Fee: Nil
Foreclosure Charges: Nil

To apply for the loan - Contact your nearest branch.