Special Vidya Loan for NRIs

1. Applicant should be an Indian National
2. Applicant shall have secured admission to professional/technical courses through Entrance test/selection process 
3. Loans will not be sanctioned for applicants who secured admission through NRI quota
4. Course & Institution should have necessary approval/recognition
5. Course certificate should be issued by University / Govt.Dept / a body formed by enactment of Parliament

Vocational Training and Skill development study courses will not be eligible.

To avail the loan, you can choose any of these:

1. Download the application form and submit it your branch
2. Call our contact centre executives
3. Please visit any of our branches

• Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card) 
• Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate) 
• Offer letter / Admission letter
• Basic Qualification & mark-list
• Proof of Fees structure

Quantum of Finance

• Quantum of finance is subject to repaying capacity of the parents / students.
• Satisfactory performance of the student necessary for continued disbursal. 

Items covered under loan

• Fee payable to College / School, Hostel, Tuition, Examination, Library, Lab 
• Cost of books, equipments, instruments, Uniform, Travel expenses, Computer (if essential for the course) 
• Expenses for study tours / project work / thesis etc. 
• Caution deposit, Amount payable towards building fund, refundable deposit etc supported by bills / receipts but cannot exceed 10% of the tuition fee.

Margin

• Up to Rs 4.00 L No Margin is applicable.  
• For studies in India above Rs 4 Lakhs - 5% 
• For Studies Abroad above Rs 4 Lakhs - 15%

Loan Period

• Moratorium period + 5 to 7 years 
• Moratorium period  will be period of the course + one year / 6 months after getting job, whichever is earlier

Co-obligants

• Documents should be executed by the student and parent / guardian as joint borrowers.

Security

• No security is needed Up to Rs 4 Lakhs. 
• Third party guarantee acceptable to bank / collateral security for loans up to 7.50 Lakhs.
• Above Rs 7.50 Lakhs, collateral security with required margin is required.