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Vijaya Bank Education Loan- Student Loan in India

Vijaya Bank Education Loan Scheme

Vijaya Bank Education Loan Eligibility

Student should be an Indian National and should have secured admission to the relevant Professional/ Technical courses in India or Abroad through Entrance Test/ Merit Based Selection process.


  • Loans for Indian nationals- meritorious students for pursuing higher education in India or abroad.

Eligible courses

Education Loan is classified into three categories viz

a)Loans to students admitted to “Top Rated Institutions” viz.:
IITs, IIMs, IISc  Bangalore, ISB Hyderabad, BITS, AIIMS, NITs, IIFT Delhi, IMI Delhi, ISM Dhanbad, IRM Anand, SIBM Pune, XLRI Jamshedpur.

b) Loans to students admitted to other domestic institutions

oApproved courses leading to graduate/post graduate degree and PG Diploma conducted by recognized colleges/universities recognized by UGC/Government /AICTE/AIBMS/ICMR etc.

o Courses like ICWA, CA, CFA etc.

o Regular Degree/Diploma courses like Aeronautical, Pilot Training, Shipping Degree/Diploma in Nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.

o Approved courses offered in India by reputed foreign universities.

c) Loans to students seeking studies abroad

o Graduation: For job oriented professional/technical courses offered by reputed universities.

o Post-graduation: MCA, MBA, MS, etc.

o Courses conducted by CIMA- London, CPA in USA etc.

o Degree/diploma courses like Aeronautical, Pilot Training, Shipping etc. provided these are recognized by competent regulatory bodies in India or abroad for the purpose of employment in India/abroad.

Expenses considered for loan

o Fees payable to college++/school/hostel*

o Examination/Library/Laboratory fee

o Travel expenses/passage money for studies abroad

o Caution deposit, Building fund/refundable deposit supported by Institution    Bills /receipts**

o Purchase of books/equipments/instruments/uniforms***

o Purchase of computer at reasonable cost, if required for completion of the    course ***

o Any other expense required to complete the course - like study tours, project-work, thesis, etc.***

o Insurance premium for student borrower, if applicable

o While computing loan required, scholarships, fee waiver etc., if any, available to the student borrower may be taken into account

o If the scholarship component is included in the loan assessment, it may be    ensured that the scholarship amount gets credited to the loan account when    received from the Government.


Repayment will commence one year after completion of course or six months after securing a job, whichever is earier

Place of Study

Loan Amount

Repayment Period in Years

In India

Up to Rs. 7.5 lacs


Above Rs. 7.5 lacs



Up to Rs. 15 lacs


Above Rs. 15 lacs


Vijaya Bank Education Loan Security 

Security norms for students admitted to ‘Top Rated Institutions’ mentioned

Up to Rs 10.00 Lakh

No security. Parents to be Joint borrower(s).

Above Rs.10.00 Lakh

Parent(s) to be joint borrower(s). Tangible collateral security in the form of land and building, life policy, gold jewellery, bank deposit etc., along with the assignment of future income of the student for payment of instalments.

Security norms for students admitted to domestic institutions and for studies abroad:

Up to Rs 7.50 Lakh

No security.Parent(s) to be joint borrower(s).
All the eligible educational loans should invariably covered under Credit Guarantee Scheme.

Above Rs 7.50 Lakh

Parent(s) to be joint borrower(s). Tangible collateral security in the form of Land/Building, Life Policy, Gold Jewellery, Bank Deposits, etc., of suitable value acceptable to bank, along with the assignment of future income of the student for payment of installments.