Syndicate Bank

Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician - who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends. The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centres at the area level.

The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. A comprehensive IT plan is being put in place and the skills and knowledge of the Bank's personnel are being upgraded through a variety of training programmes to promote customer delight in every sphere of its activity. The Bank has launched an ambitious technology plan called Centralised Banking Solution (CBS) whereby 500 of our strategic branches with their ATMs are being networked nationwide over a 4 year period. The Bank is pioneer among Public Sector Banks on launching CBS. Our bank has already achieved CBS implementation among all its branches. Thus, the bank is 100% CBS enabled.

Eligibility Criteria:

Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality. 

Must have secured admission on the basis of merit to professional/ technical/other courses through entrance test/selection process 

Deviation/relaxation is also permitted under special circumstances.

Must have secured admission to Foreign universities/Institution (for studies abroad). 

Courses Eligible:

Studies in India:

Graduation:

B.A., B.Com, B.Sc., etc.

Post graduation: 

Masters & Phd 

Professional courses:

 Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. In respect of Management studies, apart from University affiliation, course should also be approved by All India Council for Technical Education.

For Computer education, the recognised training Institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics Accreditation of Computer Course (DOEACC) Scheme.

Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities. Courses like ICWA, CA, CFA etc. Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc. Courses offered in India by reputed foreign universities. Evening courses of approved institutes. Other courses leading to Diploma / Degree etc. conducted by colleges / universities approved by UGC / Courses offered by National Institutes and other reputed private institutions acceptable to the Bank. 

Courses like ICWA, CA, CFA etc.

Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.

Courses offered in India by reputed foreign universities.

Evening courses of approved institutes.

Other courses leading to Diploma / Degree etc. conducted by colleges / universities approved by UGC / Courses offered by National Institutes and other reputed private institutions acceptable to the Bank. 

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.

Other Foreign Diploma courses are not eligible. 

Student Eligibility:

Should be an Indian National 

Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process

Deviations/relaxations are also permitted under special circumstances. 

Secured admission to foreigh university / institutions.

The student who is a major representing himself or a minor student represented by parent or guardian. 

Quantum of Loan: 

Need based finance to meet expenses such as fee payable to college / school / hostel, examination fee; cost of books, travel / passage fare for studies abroad etc. 

Capitation fee / donation / external coaching fee are not eligible for finance.

Maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad

Margin: 

For loans upto Rs.4 lac:

No Margin required.

For loans above Rs.4 lac:

5% for study in India and 15% for study abroad.

Security:

For loans upto Rs.4.00 lac:

NIL

For loans above Rs.4.00 lac and upto Rs.7.50 lac:

Collateral in the form of satisfactory third party guarantee acceptable to the Bank.

For loans above Rs.7.50 lac:

Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments. 

NOTE:

In all the above cases, the parent / guardian shall join the transaction as co-borrower

Interest (PLR presently 13.25%):

For loans upto Rs.4.00 lakhs:

PLR minus 1.50%

For loans above Rs.4.00 lakhs:

PLR minus 1.00%

Girl students and students belonging to SC/ST category are eligible for concession of 0.50% on the above rates. 

Girl students under SC/ST category are eligible for a further concession of 0.25% on the above rates. (Total concession of 0.75%) Simple interest to be charged during the Repayment holiday/Moratorium period Penal interest to be charged as applicable No processing charges/service charges are levied for educational loans 

(Total concession of 0.75%):

Simple interest to be charged during the Repayment holiday/Moratorium period 

Penal interest to be charged as applicable

No processing charges/service charges are levied for educational loans 

Repayment:

In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.

Capability Certificate:

Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.

Education Loan Application Can Be Download From The Documents Below