Welcome to Vijaya Finances

Vijaya Finance Education Loan

Vijaya Finances offers education loans to help students pursue their academic dreams, both in India and abroad. Whether you need funds for tuition, accommodation, or other educational expenses, Vijaya Finances provides flexible loan options to suit various educational requirements.

Documents Required

To apply for an education loan from Vijaya Finances, the following documents are typically required:

  1. Identity Proof:

    • PAN Card
    • Aadhar Card
    • Voter ID (optional)
    • Passport (for overseas studies)

  2. Address Proof:

    • Utility bills (electricity, water, or telephone)
    • Lease or rental agreement (optional)
    • Property tax receipt (optional)

  3. Academic Proof:

    • Admission letter or offer letter from the educational institution
    • Mark sheets and certificates of previous academic qualifications
    • Entrance exam scorecard (if applicable)

  4. Financial Documents:

    • Last 2-3 years of Income Tax Returns (ITR) of the applicant/guardian (optional)
    • Bank statements for the last 6-12 months
    • Salary slips of the co-applicant (parent/guardian) for the last 3-6 months
    • Audited financial statements (Profit & Loss, Balance Sheet) (optional for self-employed co-applicant)

  5. Other Documents:

    • Loan application form duly filled and signed
    • Passport-sized photographs
    • Cost of study breakdown (tuition fees, accommodation, travel expenses, etc.)
    • Statement of assets and liabilities of the co-applicant

All the documents must be uploaded properly and with clear visibility otherwise it might be difficult for us to process your application asap.

Please fill the form to apply for the Business Loan.


Advantages of Vijaya Finances Education Loan

  • Comprehensive Coverage: Loans cover all educational expenses, including tuition fees, accommodation, books, and travel.
  • Competitive Interest Rates: Vijaya Finances offers attractive interest rates, ensuring affordability and ease of repayment.
  • Flexible Loan Amount: Loans are tailored to meet the specific needs of the course and institution.
  • Quick Processing: Fast loan approval and disbursement processes ensure that funds are available when required.
  • Minimal Documentation: Simplified documentation process to make the loan application hassle-free.
  • Moratorium Period: Flexible repayment options, including a moratorium period (grace period) during the course and a specified time after course completion.
  • No Hidden Charges: Transparent terms with no hidden fees or charges.

Terms & Conditions

  • Eligibility Criteria:

    • The student must have secured admission to a recognized institution in India or abroad.
    • The course must be a graduate, postgraduate, or professional degree/diploma.
    • A co-applicant (parent/guardian) with a stable income is typically required.

  • Interest Rate:

    • The interest rate is subject to the loan amount, tenure, and creditworthiness (CIBIL score) of the co-applicant.

  • Loan Tenure:

    • The loan tenure typically ranges from 5 to 15 years, depending on the course duration and repayment capacity.

  • Moratorium Period:

    • A moratorium period is provided during the course and for a specified period after course completion (usually 6 months to 1 year).

  • Collateral/Security:

    • Collateral may be required for higher loan amounts or courses abroad, depending on the loan amount and the applicant’s profile.

  • Processing Fee:

    • A nominal processing fee is charged, usually a percentage of the loan amount.

  • Prepayment Charges:

    • Prepayment of the loan is allowed with minimal charges, depending on the tenure and loan agreement.

  • Repayment:

    • Repayment is done through equated monthly installments (EMIs) after the moratorium period, and can be made via auto-debit, ECS, or post-dated cheques.

  • Default Penalties:

    • Late payment or default in repayment may attract penalties as per the loan agreement.