Vysya Bank, Established in 1930 - has grown in stature to become the largest
private sector bank in 1985. Presently the bank has a network of over 300 branches
and 225 ATMs spread all over India. In October 2002, the bank amalgamated with a
leading global financial organization of Dutch origin. Since then the erstwhile
Vysya Bank Limited is being known as ING Vysya Bank Limited.
ING Vysya provides educational loans to meritorious students
for assisting them in their pursuit of higher studies whether in India or abroad.
At international level bank has presence in countries such as Korea, Taiwan, Hungary,
Poland, Mexico and Chile.
For availing the facility of study loan provided by the ING Vysya bank, a candidate
needs to contact any of the Bank's branches and apply along with the relevant documents.
The educational loans provided by the ING Vysya Bank offers an amount of money which
is equivalent to most other national banks. The security conditions are also not
very stringent. Being a private sector bank having global exposure the banking operations
are faster compared to many other banks. These facilities may prove advantageous
for students who opt for educational loans from ING Vysya banks.
What does ING Vysya look at before granting educational loans to students?
The students' past academic record, approval for admission to the desired course,
proof of address, proof of income and a brief introduction about the candidate needs
to be submitted for the application of educational loan.
Amount of Loan:
The amount of loan provided by the ING Vysya Bank varies with the type of course
to be pursued.
However the amount that is lent by the bank can be broadly divided into two categories.
For Studies within India - A maximum loan of Rs.7.5 Lacs is provided to
candidates pursuing higher studies within India.
For studies Abroad - The loan amount for pursuing higher studies abroad
can at most be Rs. 15 Lacs.
Time for processing:
The maximum time required for the processing of the loan is two weeks.
Tenures:
The tenure for repayment depends on the course length.
Repayment:
Repayment of loan commences after the completion of the course.
Overview ING Vysya Education Loans:
ING Vysya's Personal Loan Applicants can
- Borrow up to Rs 15, 00,000 for any requirement like purchase of Education/Consumer
Durables/marriage/travel/family function/business expansion/home improvement or
purchase of property etc.
- Avail Flexible Repayment options, ranging from 12 to 60 months.
- Choose amongst various Modes of Repayment.
- Obtain Attractive Interest Rates.
- Gain Hassle free loans - No security/collateral required.
- Look forward to Speedy loan approval.
- Use the Convenience of service at your doorstep.
How to apply?
The bank requires the parent or guardian to act as a co-applicant for the loan.
They will act as the primary debtor.
Eligibility criteria:
- Applicant should be either salaried individual, self-employed professional
or self-employed businessman
- Salaried individuals should be at least 23 years of age and 25 years for Non
Professionals.
- The applicants should have at least one year's work experience in the current
job or 3 year's overall work experience with minimum Gross Annual Income of Rs.
100,000
The Documents required for the loan application are:
- Passport size photograph
- 2 months' salary slip
- Proof of experience
- Proof of Age and Identity
- Company's Financial statements
- Proof of Business
- Last 6 months' bank statement
- Last 2 years' ITR including computation of Income, CA certified P& L,
Balance Sheet
- For more details contact, your nearest ING Vysya Bank branch.