ABHYUDAYA VIDYA VARDHINI EDUCATION LOAN SCHEME

For providing financial support to deserving/meritorious students for pursuing higher education in India & abroad and for meeting expenditure of Admission Fees, Accommodation, Purchase of Educational Equipments, Travelling Expenses, Books, Computers and peripherals etc.

Studies in India (Indicative List)

• Approved courses leading to Graduate/Post-graduate Degree and Post Graduate Diploma courses conducted by Colleges/ Universities recognized by UGC/Govt./AICTE/AIBMS/ICMR etc.
• Courses such as MBBS, Post Graduation in Medicine, Technical, Engineering courses etc.
• Courses conducted by IIMs, IITs, IISc, XLRI. NIFT, NID etc.
• Purchase of Books, equipments and instruments
• Regular Higher Degree/Diploma Courses like Aeronautical, Pilot Training, Shipping, Degree/Diploma in any other discipline approved by Director General of Civil Aviation/Shipping or any other regulatory body as the case may be, if the course is pursued in India.

Approved Courses offered in India by reputed Foreign Universities.

Studies Abroad:-

• Graduation: For job oriented Professional/Technical courses offered by reputed universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA-London, CPA in USA etc.
• Degree/Diploma courses like Aeronautical, Pilot Training, Shipping etc., provided these are recognized by competent Regulatory Authorities in India/abroad for the purpose of employment in India/abroad.

Studies in India : Above Rs. 10.00 lakh & maximum up to Rs. 25.00 Lakh
Studies Abroad : Above Rs. 20.00 lakh & maximum up to Rs. 50.00 Lakh

• The student should be an Indian National. The student’s parent(s) or guardian (or spouse, parents-in-law, brother, sister etc., - see note below-) who may be borrower(s) or co-borrower(s) should also be Indian national(s).
• Should have secured admission to a higher education course in recognized institution in India or abroad through Entrance Test / Merit Based Selection process after completion of HSC (10 plus 2 or equivalent). However, Entrance Test or selection purely based on marks obtained in qualifying examination may not be a sufficient criterion for admission to some of the Postgraduate Courses or Research Programmes. In such cases, Bank will judge, on its own criteria, the employability post course-completion and reputation of the institution concerned.

  Note:
  The Joint Borrower should normally be parent/s or guardian of the student. In case of a married person, Joint Borrower can be Spouse or the Parent/s or Parent/s-in-law/Brother or Sister in case of not having parents.

• EMI 180 months including moratorium period
• Moratorium Period = Duration of Course + 12 months.
• Interest to be serviced during the moratorium period. No interest concession will be available.