Vijaya Bank Education Loan

Vijaya Bank is a fastest growing Public Sector Bank with its Corporate Office in Bangalore, Karnataka, India. It is one of the nationalized banks in India. The Bank offers a wide range of financial products and services to the customers through its various delivery channels. The Bank has a network of 1900 branches (August 2016) throughout the country and over 3500 customer touch points including 1651 ATMs.

Vijaya Bank, a PAN India institution, offers a variety of attractive products and services to its customers including educational loans to commendable and meritorious students who are seeking to pursue their education further in India and abroad.


The 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. However, there is no age restriction for the applicant.

Eligible courses

Studies in India:

  • Graduate or Post-graduate degree or diploma in technical and professional courses conducted by colleges/universities approved by UGC, AICTE, IMC, Govt., AIBMS, ICMR, etc.
  • Degree or Diploma conducted by premier educational institutions such as IIT, IIM, NIFT, IISc, etc.
  • Degree or Diploma for aeronautical, pilot training, shipping, etc. approved by Director General of Civil Aviation or Shipping.
  • ICWA, CA, CFA courses.

Studies abroad:

  • Professional or technical graduation degree courses/post-graduation degree and diploma courses like MCA, MBA, MS, etc., from reputed universities.
  • Courses conducted by CIMA-London, CPA in the USA and so on.

Expenses Considered for Loan

  • 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.
  • Issuance of DD favoring CET Cell
  • Fee payable to the Institution/hostel/examination fee cost of books, travel expenses for studies abroad, purchase of the computer, etc.

Rate of Interest

  • BPLR – 1.25 % p.a. Floating
  • Simple interest basis during study & repayment holiday period (up to one year after completion of the course or six months after securing a job, whichever is earlier)
  • Concession for Girl Students: Our Bank has extended a 0.50 % interest concession to Girl Students

Loan Limit

For studies in India, the maximum loan amount given is Rs.10 lakh.

For studies abroad, the loan limit is Rs.20 Lakh.

For students of Indian School of Business (ISB), and other Premier Institutions like IITs and IIMs, the maximum loan amount is Rs.20 Lakh.

Processing Fee

There are no upfront or processing fees.


  • The moratorium period for all loans except ISB is the duration of the course plus 1 year or 6 months after employment, whichever is earlier.
  • For the students of ISB, the moratorium is the duration of the course plus 18 months or soon after employment, whichever is earlier.


Vijaya Bank also charges various kinds of security for issuing education loans.

  • Loan above Rs.4 lakh to Rs.7.50 lakh -Guarantee of third part (both India and abroad)
  • Loan above Rs. 7.50 lakh to Rs.10 lakh (India) and Rs.15 lakh (Abroad)-collateral security.
  • 15 lacs to Rs.20 lakh (Abroad) – collateral security and guarantee of the third party.

Documents Required

  • Vijaya Bank Educational Loan application form
  • Residence and age proof
  • Income proof of parents or guardians with income-tax proof for 2 years.
  • Income proof, proof of tax paid, security details of guarantors.
  • A copy of the certificate or prospectus from the principal/head of the institution to calculate expenses.
  • A copy of the statement of marks or certificates of the last examination passed.
  • A confirmation of student’s admission from the institution.
  • For loans which require security, details of security offered with advocate’s search and report about its marketability, mortgage ability, and so on, must be furnished.
  • Sources of margin – documents of proof are required.
  • For studies in the USA, I-20 form is required.
  • Consent for assigning LIC policy of the student to the bank, stating that the premium will be paid to continue to policy during the duration of the loan, if the loan exceeds specified amount.

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