Education Loan in Syndicate Bank

Syndicate Bank

Education loan amount size:

The maximum amount of upto Rs.10,00,000 will be provided for the students studying in India .

For the students studying in abroad, maximum amount of upto Rs.20,00,000 will be provided.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than 4.00,000 Rs. – Students studying in India should pay 5% of the amount and students studying in abroad should pay 15% of the amount.

Interest rate:

Upto Rs.4,00,000 – P.L.R – 1.50%

More than Rs.4,00,000 – P.L.R – 1.00%

P.L.R.,Prime Lending Rate

Way of repaying the loan:

One year after finishing the studies or right from the 6^th month after joining the job the repaying process is to be started. The loan amount is to be closed within 5 to 7 years.

Warranty:

No property guarantor is required till 4,00,000 Rs.

From 4,00,000 Rs. till 7,50,000 Rs.: Third party’s guarantee is required.

More than 7,50,000 Rs – Parents, student or the third party’s agreeing letter for the assurance of repayment of loan is required.