SIB Education Loan (VPS)

Supporting Academic Excellence with Flexible Finance

South Indian Bank introduces the SIB Vijnan Pradhan Education Loan Scheme, designed to provide financial assistance to deserving students pursuing higher education in India or abroad. Tailored to support students’ academic aspirations, this scheme offers affordable and hassle-free solutions for tuition fees and related expenses.

Key Features and Benefits

Eligibility

Open to Indian nationals and NRIs with an Indian passport.

Co-borrower requirement

Parents or guardians must join as co-borrowers.

Wide range of courses

Graduate, postgraduate and diploma programs with university affiliation in India and job-oriented technical/professional courses overseas.

Comprehensive coverage

Finances tuition fees, exam/library/lab charges, books, equipment, hostel, uniforms, and insurance premiums.

Apply Now

Pro Tips for SIB Education Loan (VPS) Applicants

Attractive margins:
- NIL margin for loans up to Rs. 4 lakhs
- Above Rs4 lakhs, 5% margin for domestic studies and 15% for foreign studies
Collateral-free option:
- No collateral for loans up to Rs. 7.5 lakhs
- 100% collateral required for loans above Rs. 7.5 lakhs
Competitive interest rate - Lower interest rates designed to ease your financial journey
Flexible repayment terms - Maximum loan repayment tenure of 15 years, including a moratorium period (course duration plus 1 year)
Life insurance - Mandatory life insurance for the student availing Education Loan
Additional benefits:
- NIL prepayment charges
- Top-up loans available within the moratorium period for further education
- Central Sector Interest Subsidy (CSIS) for eligible applicants

The scheme is available for students who got admission to an eligible higher education course in recognized institutions in India or abroad through Merit Based Selection / Entrance exam under merit channel with minimum cut off mark as mentioned below,

For undergraduate programs:
- Student who secured admission to an eligible higher education course after completion of HSC (10 plus 2 or equivalent)
- A minimum of 80% in qualifying subjects and 75% in aggregate in HSC (10 plus 2 or equivalent)
For postgraduate programs:
- A minimum cut off marks of 75 % in Undergraduate studies
- Successful completion of entrance tests, GDs, interviews etc prescribed by the Institution

Category	Details
Interest Rates	Check Interest Rates
Additional Charges	Click here for Service Charges

Proof of identity and address (student and co-borrowers)
PAN card of student and parents
Admission/offer letter from the institution
Course fee structure and affiliation/approval documents
Qualifying exam scorecards and mark sheets
Property-related documents for loans requiring collateral
Income certificate for CSIS eligibility (to be submitted within 45 days)

Online application - Click here to apply for a student loan. Our representative will get in touch with you soon.
OR

Branch visit – Visit the nearest South Indian Bank branch and our representative will help you
Application and Document submission – Submit the list of documents required for processing your loan
Verification - Our team will assess your application, including collateral, and verify eligibility.
Approval - Receive quick approval and a loan offer tailored to your needs.
Disbursement- Funds will be directly disbursed to the institution or as per approved needs.

Frequently Asked Questions

To get answers to the frequently asked queries

You can avail up to Rs10 lakhs for domestic studies and Rs20 lakhs for overseas studies.

No collateral is required for loans up to Rs7.5 lakhs, with credit guarantee coverage. Loans above Rs7.5 lakhs require 100% collateral.

Repayment can extend up to 15 years, including the moratorium period.

Yes, the Central Sector Interest Subsidy (CSIS) scheme is available for eligible applicants.

No, prepayment charges are NIL for this scheme.

Show More FAQs

Apply Now

Secure your academic future with South Indian Bank’s Vijnan Pradhan Education Loan Scheme. Apply now to take the first step toward a brighter tomorrow!