On this page, we have tried to list all the major information on education loan provided by Vysya Bank. However, if you encounter any discrepancy in the information about Vysya Bank Student loans, do write to us. We welcome any kind of feedback that would improve the quality of the site, a site that strives to provide the best information on Vysya Bank Study Loans.
Introduction: The Vysya Bank was established in 1930, at Bangalore by few eminent visionaries who wanted to provide banking facilities to the underprivileged. In 1948 Vysya Bank achieved the status of a "scheduled" bank. Over time, Vysya Bank grew in stature to become the largest private sector bank in 1985. Presently the bank has a network of over 300 branches spread all over India. In October 2002, the bank amalgamated with a leading global financial organization of Dutch origin named ING.
Since then the erstwhile Vysya Bank Limited is being known as ING Vysya Bank Limited. ING Vysya provides educational loans to meritorious students for assisting them in their pursuit of higher studies whether in India or abroad.For availing the facility of study loan provided by the ING Vysya bank, a candidate needs to provide certain documents. The past academic records, approval for admission to the desired course, proof of address, proof of income and a brief introduction about the candidate needs to be submitted for the application of educational loan.
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.
Related Link: www.ingvysyabank.com/
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