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Special Vidya Loan

Education is indeed a basic need like food, clothing and shelter. Never miss an opportunity to learn and grow for want of finance. Carve out a bright future with our Special Vidya Loan.

  • Features & Benefits
  • How to apply ?
  • Documents Required
  • Terms & Conditions
  • Repayment options
  • Interest Rates & Charges
  • Central Government Interest Subsidy Scheme for Educational Loans
  • Speedy loan approval
  • Loan can be availed for higher studies in India & Abroad excluding vocational training & skill development study courses.
  • Loan amount up to Rs.10 Lakhs for studies in India and Rs.20 Lakhs abroad
  • No security is needed Up to Rs 4 Lakhs.
  • Minimal paperwork
  • No repayment during Moratorium period
  • Repayment can be made in easy EMIs

With Special Vidya Loan, Meritorious students are provided with an opportunity to pursue education with the financial support from the bank.

Who can apply?

  1. Applicant should be an Indian National
  2. Applicant shall have secured admission to professional/technical courses through Entrance test/selection process
  3. Course & Institution should have necessary approval/recognition
  4. Course certificate should be issued by University / Govt.Dept / a body formed by enactment of Parliament

Vocational Training and Skill development study courses will not be eligible.

To avail the loan, you can choose any of these:

  1. Call our contact centre executives
  2. Please visit any of our branches
  3. Apply through Vidya Lakshmi Portal and contact branch with Application ID
  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Offer letter / Admission letter
  • Basic Qualification & mark-list
  • Proof of Fees structure

Quantum of Finance

Quantum of finance is subject to repaying capacity of the parents / students.

Satisfactory performance of the student necessary for continued disbursal.


Items covered under loan

  • Fee payable to College / School, Hostel, Tuition, Examination, Library, Lab
  • Cost of books, equipments, instruments, Uniform, Travel expenses, Computer (if essential for the course)
  • Expenses for study tours / project work / thesis etc
  • Caution deposit, Amount payable towards building fund, refundable deposit etc supported by bills / receipts but cannot exceed 10% of the tuition fee.



  • Up to Rs 4.00 L No Margin is applicable.  
  • For studies in India above Rs 4 Lakhs - 5%
  • For Studies Abroad above Rs 4 Lakhs - 15%


Loan Period

Moratorium period+ 15 years as repayment period

(Moratorium period will be course period + one year)



Documents should be executed by the student and parent / guardian as joint borrowers



  • No security is needed Up to Rs 4 Lakhs.
  • Third party guarantee acceptable to bank / collateral security for loans up to 7.50 Lakhs.
  • Above Rs 7.50 Lakhs, collateral security with stipulated margin is required

Repayment of the loan is made as Equated Monthly Installments (EMI).

You can use any one of the ways to repay the loan:

  • Cheques
  • Standing instructions at your branch
  • FedNet - Internet Banking
  • Automated Payment through ECS
  • Mobile Banking
  • Please visit the Interest Rates page for details.
  • During moratorium period only simple interest will be charged.


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