SIB Education Loan (VPS)

Supporting Academic Excellence with Flexible Financial Solutions

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

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Why Choose South Indian Bank?

South Indian Bank offers a reliable and seamless loan experience backed by over nine decades of banking expertise and transparency. Timely disbursement of funds allows you to focus on academics without delays, while loans up to Rs. 7.5 lakhs are offered without collateral, making higher education more accessible. The convenience of online applications through the Vidya Lakshmi and Jan Samarth Portals adds to the hassle-free experience.

Multiple features offered by SIB Vijnan Pradhan Education Loan are as below;

Attractive margins:
- NIL margin for loans up to Rs. 4 Lakhs
- Above Rs. 4 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

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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