Purpose

 
 

1.Fee payable to college/school/ hostel.| 2.Examination/ Library/ Laboratory fee.| 3.Purchase of books/equipments/ instruments/ uniforms.|* 4.Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.| 5.Travel expenses/ passage money for studies abroad.| 6.Purchase of computers -essential for completion of the course.*| 7.Insurance premium for student borrower, if applicable| 8.Any other expense required to complete the course - like study tours, project work, thesis, etc. * | ( * maximum expenses under these three heads put together, should not exceed 20 % of total tuition fees payable for completion of the course)

Rate of Interest

 
 
  • 1.a) REVISED VITJNAN PRADHAN SCHEME (Upto & including Rs.4 Lacs For Boys) # BR + 5.80 %
  • 2. b) Above Rs.4.00 Lacs BR + 6.30 %
  • 3. a)REVISED VITJNAN PRADHAN SCHEME - (Upto & including Rs.4 Lacs For Girls)# BR + 5.30 %
  • 4. b)Above Rs.4.00 Lacs BR + 5.80 %
 
 

Eligibility for Educational Loan

 
 

No eligibility details found.

 
 

About the Bank

 
 

South Indian Bank Limited (SIB) (BSE: 532218, NSE: SOUTHBANK) is a private sector bank headquartered at Thrissur City in Kerala, India. South Indian Bank has 831 branches, 4 service branches,33 ext.counters and 20 regional offices spread across more than 26 states and 3 union territories in India. It has set up 1269 ATMs and 4 Bulk Note Acceptor/Cash Deposit Machines all over India.

 
 

FAQ Loan

 
 

1.How long will it take for the bank to process my application?

After all necessary documents are submitted, the bank will convey its decision within 15 working days from the date of receipt.

2.What is the role of the parents when applying for an education loan?

The parents or guardian of the student applicant will be treated as a co-applicant and a primary debtor.

3.How will the education loan be disbursed?

The student loan will be disbursed in full or suitable instalments depending on the requirement of funds or fees. It will be directly disbursed to the educational institution or the vendor.

 
 
 
 
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