The Shamrao Vithal Cooperative Bank Education Loan

The Shamrao Vithal Cooperative Bank Education Loan Interest Rate (Updated on 19 Mar 2019)

INTEREST RATE12.50%
LOAN TENUREIn 10 years after the Holiday | Moratorium Period
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDYes
PRE CLOSURE CHARGESAs decided by the bank from time to time

The Shamrao Vithal Cooperative Bank

The Shamrao Vithal Cooperative Bank is a Co-operative bank in india. It has headquarter in Mumbai. The Shamrao Vithal Cooperative Bank was founded on 27-12-1906. It has 546 branches and It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about The Shamrao Vithal Cooperative Bank which includes The Shamrao Vithal Cooperative Bank Official Website, The Shamrao Vithal Cooperative Bank ATMs accross the India, The Shamrao Vithal Cooperative Bank Branches accross the India, The Shamrao Vithal Cooperative Bank Contact Numbers, The Shamrao Vithal Cooperative Bank official EmailID, The Shamrao Vithal Cooperative Bank Headquarter and The Shamrao Vithal Cooperative Bank Headquarter Address. Find The Shamrao Vithal Cooperative Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.

The Shamrao Vithal Cooperative Bank Education Loan Purpose

To acquire skills in any educational discipline.

The Shamrao Vithal Cooperative Bank Eligible Courses for Education Loan

For studies in India:
  1. Approved courses leading to graduate|post graduate degree and P G diplomas conducted by recognized colleges|universities recognized by UGC|Govt.| AICTE| AIBMS| ICMR etc.
  2. Courses like I.C.W.A., C.A., C.F.A., etc.
  3. Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NIDetc.
  4. Approved courses offered in India by reputed foreign universities.
  5. Regular Degree|Diploma courses like Aeronautical, pilot training, shipping, degree|diploma in nursing or any other discipline.approved by Director General of Civil Aviation|Shipping|Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  6. Approved by Head Office and included in approved educational institutions list.
For studies abroad:
  1. Graduation: For job-oriented professional|technical courses offered by reputed universities. (Diploma|Certification courses are not permissible)
  2. Post Graduation: Courses like MCA, MBA, MS etc.
  3. Courses conducted by CIMA-London, CPA in USA etc.
  4. Degree | Diploma: Courses like Aeronautical, Pilot training, and Shipping etc. provided these are recognized by competent regulatory bodies in India| abroad for the purpose of employment in India and abroad.

The Shamrao Vithal Cooperative Bank Education Loan Document Required

For salaried individuals

  • Duly filled up and signed education loan application form along with photographs
  • KYC (Know Your Customer)documents
  • Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
  • Latest salary slip showing all deductions or Form 16 along with recent salary certificate
  • Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
  • Bank Statement or Bank Pass Book of having entries of last 6 months
  • Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  • Detailed break-up of the costs of the course (Optional)

For all individuals except salaried

  • Duly filled up and signed education loan application form along with photographs
  • KYC (Know Your Customer)documents
  • IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
  • Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
  • Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
  • Bank Statement or Bank Pass Book of having entries of last 6 months
  • Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
  • Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  • Detailed break-up of the costs of the course (Optional)

The Shamrao Vithal Cooperative Bank Education Loan Amount

(i) For study in India - Maximumof Rs.10 lakh
(ii) For Studies Out of India - Maximum of Rs.20 lakh

Margin

10% to 25%

The Shamrao Vithal Cooperative Bank Education Loan Repayment

Max 120 months (Moratorium Available)

Security

One Guarantor OR 50% of the loan amount in the form of Surrender Value of LIC Policy and/ or face value of NSC KVP as Collateral Security in case the loan sought is upto Rs.5.00 lakh. Real Estate equivalent to the loan amount in case it exceeds Rs.5.00 lakh.

The Shamrao Vithal Cooperative Bank Contact Details

  • BANK OFFICIAL WEBSITE - www.svcbank.com
  • CONTACT NUMBERS - 022-66999999/71999999
  • EMAIL ID - ranemam@svcbank.com
  • TOTAL BRANCHES - 546
  • TOTAL ATMS - 193
  • HEADQUARTER - Mumbai
  • BANK ADDRESS - SVC Tower, 4th Floor, Jawaharlal Nehru Road, Opp. Vakola Market, Vakola, Santacruz (E) Mumbai, Maharashtra Pincode-400055

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Upcoming Bank Holidays

2019 March 20 is a bank holiday in Assam due to Dol Jatra.
2019 March 20 is a bank holiday in Jharkhand due to Holika Dahan.
2019 March 21 is a bank holiday in Andaman And Nicobar Island due to Holi.
2019 March 21 is a bank holiday in Bihar due to Holi 2nd Day.
2019 March 21 is a bank holiday in Jammu And Kashmir due to Holi (Jammu Province Only).
2019 March 21 is a bank holiday in Manipur due to Yaosang 2nd Day.

Financial Calculators

The Shamrao Vithal Cooperative Bank Loan Services

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