Federal Bank Education Loan
Education Bank Loan in India: Federal Bank
Initially Federal bank Limited was known as the Travancore Federal Bank. Officially in the year 1947 the name Federal Bank Limited was announced. Federal Bank Limited was founded by Mr.Kulangara Paulo Hormis with an authorized capital of Rs. 5000. Federal Bank education loans were launched to provide financial assistance to meritorious students willing to pursue their higher education. Federal Vidya Loan and Federal Special Vidya Loan are two types of loans offered by Federal Bank.
Eligible Criteria for Federal Bank Education Loans:
Federal Vidya Loan Scheme
The purpose of providing loan is to undergo higher studies in India & Abroad.
Students of Indian nationality who intend to join any approved Diploma / Degree / Post Graduate course in India / Abroad
Student Education Loan:
- Students should have Nationality Indian
- Come with mark sheets of the qualified exam and the admission proof.
Quantum & Margin
Rs. 0.50 Lakhs to Rs.25 Lakhs
For Courses in India no margin is required and for foreign studies 10 % margin is applicable.
Minimum loan period - 3 years (course time + repayment period)
Maximum loan period - 11 years (course time maximum of 6 years + repayment period maximum of 5 years)
Monthly / periodical interest during the holiday period to be serviced and Balance at the end of the course to be repaid in equal monthly installments. And repayment should begin when the student secures employment or within 12 months after the completion of the course, whichever is earlier.
Federal Special Vidya Loan
- To be Indian national.
- Must take secured admission to technical or professional courses through the entrance test or any selection procedure
- Those studies abroad, secured admission must be taken to the institutes or the universities.
- The courses and institutes should be recognized.
The purpose of this is to provide commendable students with opportunity to get higher studies in India as well as in abroad and provide financial support with some terms and conditions.
- The amount of loan is Rs. 10.00 lakh for studies in India.
- The amount of loan is Rs. 20.00 lakh for studies abroad.
Up to Rs 4.00 Lakh No Margin is applicable and
for studies in India above Rs 4 Lakhs - 5%
for Studies Abroad above Rs 4 Lakhs - 15%
- Course period plus five to seven years
- Repayment is done equally that is in equal installments monthly within 5 to 7 years after the moratorium period
- At the time of moratorium period, no repayment is done
Details & Contact
Aluva 683 101,
Phone - (0484) 2623620 to 29
Fax - (0484) 2622672
Website - http://www.federalbank.co.in
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.
Other Bank Education Loan Archive
- Allahabad Bank
- Federal Bank
- Bank of Baroda
- HDFC Bank
- Punjab National Bank
- IDBI Bank
- Indian Bank
- Mysore Bank
- State Bank of Mysore
- Oriental Bank of Commerce
- Andhra Bank
- Indian Overseas Bank
- Bank of India
- Punjab and Sind Bank
- State Bank of Indore
- State Bank of Hyderabad
- Karnataka Bank
- State Bank of India
- Bank of Maharashtra
- Syndicate Bank
- Bank of Rajasthan
- UCO Bank
- Canara Bank
- United Western Bank
- Catholic Syrian Bank
- Vijaya Bank
- Central Bank
- ING Vysya Bank
- Dena Bank
- Union Bank Of India
- Development Credit Bank
- State Bank of Saurashtra
- Karur Vysya Bank
- City Union Bank
- South Indian Bank
- Jammu & Kashmir Bank
- Bharat Overseas Bank
- Tamilnad Mercantile Bank