#1  
25th April 2022, 01:40 AM
Unregistered
Guest
 
Posts: n/a

Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?


Hello, I am looking forward to apply an education loan in Indian Overseas Bank. I would like to know about the terms and conditions for applying an education loan in this bank which is Vidya Jyoti Education Loan Scheme. Can anyone tell me?




  #2  
26th April 2022, 05:12 PM
osmin
Senior Member+++++
 
Join Date: Nov 2017
Posts: 7,967
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme:-

To apply for the loan, one must be an Indian citizen having secured an admission into a Colleges/University recognised by a competent authority in India or abroad.
Quality education is a must for a complete and successful life.
  #3  
26th April 2022, 09:09 PM
Hera tabrez
Junior Member
 
Join Date: Oct 2020
Location: Kanpur
Posts: 4,340
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

To apply for the loan, one must be Indian citizen
Must have secured admission to a college or university recognised by a competent authority in India or Abroad.

Must have good academic background and the admission is secured on merit basis.

Repayment of loan will be equated in equal monthly installments for a period of 15 years.

1% concession may be provided by bank if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.
  #4  
29th April 2022, 05:18 PM
periwinkle09876
Senior Member
 
Join Date: Jun 2021
Posts: 746
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

Terms & Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme

If the student is not able to complete the course within the scheduled time, extension of time for a completion of course maybe permitted for a maximum period of 2 years.

1% interest concession may be provided by the bank if interest is serviced during the study period and subsequent more tutorial period prior to commencement of repayment.

The loan to be disbursed in stages as per the requirement directly to the institutions.

Official website
http://www.vidyalakshmi.co.in
Reply With Quote
  #5  
29th April 2022, 06:12 PM
Doctor Tom
Senior Member+++++
 
Join Date: Dec 2016
Posts: 7,489
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

°°° One percent interest concession may be provided by the bank if interest is serviced during the study period and subsequent Moratorium period prior to commencement of repayment.

If the student is not able to complete the course within the scheduled time then extension of time for completion of course maybe per metre for a maximum period of 2 years.

The loan to be disbursed in stages as per the requirement directly to the institutions.

Repayment of loan will be in equator monthly installment for a period of 15 years.
Reply With Quote
  #6  
29th April 2022, 09:59 PM
cookie1902
Senior Member+++++
 
Join Date: Jan 2019
Posts: 11,682
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

The Terms and Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme are given below.

--> If the student is not able to complete the course within the scheduled time, an extension of time for completion, of course, may be permitted for a maximum period of 2 years.
--> One percent interest concession may be provided by the bank if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.
--> The loan is granted jointly with the parent/guardian (Co-borrower) of the applicant.
--> The bank may ask the borrower to submit a progress report during the course.
--> The loan is disbursed directly to the school, bookseller or publisher, computer seller, and so on and not to the applicant.
Reply With Quote
  #7  
30th April 2022, 01:44 AM
ashishboudha
Senior Member+++++
 
Join Date: Aug 2019
Location: Delhi,India
Posts: 5,383
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

The loan amount for each year is repayable in equated monthly instalments up to a period of 15 years after the end of the moratorium period.

This means that you pay only interest during the moratorium period and then EMIs every month until the complete repayment of the loan.
Reply With Quote
  #8  
30th April 2022, 08:02 AM
Msdhoni02
 
Join Date: May 2021
Posts: 2,526
Default Re: Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

Terms &a Conditions under Indian Overseas Bank Vidya Jyoti Education Loan Scheme?

Vidya Jyoti
Interest Rate: As per the discretion of the bank
Processing Fee: Contact the bank
Collateral:
Co-obligation of parents.
Collateral security of relevant value.
Assignment of the student’s income in the future for the payment of EMIs.
Reply With Quote
Do you have any question? or have anything to say?





Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
vBulletin Optimisation by vB Optimise.
Please also check: