Education Loan

Vidya Vikas Education Trust's Technical Campus is approved by AICTE and affiliated to the Mumbai University. Hence, its courses are fully approved for Education Loan approval and disbursement by all concerned banks and financial institutions in India.

General student borrower eligibility requirements
  • Student should be Indian resident
  • Student should have secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process
  • The student should not have outstanding education loan from any other Institution.
  • Student should be aged between 16 – 35 years
  • Student should have a co-applicant
    • Primary Co-Applicants: Parents, Spouse, Siblings
    • Secondary Co-Applicants: Father-In Law, Mother-In-Law, Brother-In-Law, Paternal / Maternal Uncle / Aunt
General features of a typical education loan
  • Since the fees for VVETTC's B.E. course is under Rs. 4 lakhs, no margin or collateral is required.
  • The repayment period is usually 4 to 5 years
  • The interest rate is usually in the 12% to 14% per annum range
  • Typically, the repayment starts one year after the course is complete
  • Typically, the EMI for a loan obtained for paying VVETTC's current fees at current interest rates would be under Rs. 10,000 per month
Generally accepted expenses considered for loan
  • Fee payable to college/school/hostel as per brochure/ demand letter from the institution
  • 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
  • Insurance cover for the student
  • Any other expense required to complete the course – like study tours, project work, thesis, etc.

Education loan links of leading websites
http://www.hdfcbank.com/personal/product/productdetails/student-loans-for-indian-education/gts8mipn
http://www.bankofindia.com/eduloans1.aspx
http://www.axisbank.com/personal/loans/education-loan/education-loan-features.aspx
http://www.bankofbaroda.com/pfs/eduloans.asp
http://www.allahabadbank.com/education.asp
http://www.bankofmaharashtra.in/credit_fac_edu.asp